Harbour Investments Inc. Acquires 94 Shares of Northern Trust Corporation $NTRS

Harbour Investments Inc. grew its holdings in Northern Trust Corporation (NASDAQ:NTRS) by 10.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,032 shares of the asset manager’s stock after purchasing an additional 94 shares during the quarter. Harbour Investments Inc.’s holdings in Northern Trust were worth $131,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of NTRS. GAMMA Investing LLC boosted its stake in shares of Northern Trust by 5.8% in the 1st quarter. GAMMA Investing LLC now owns 4,517 shares of the asset manager’s stock valued at $446,000 after purchasing an additional 249 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its position in shares of Northern Trust by 9.1% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 16,317 shares of the asset manager’s stock valued at $1,610,000 after acquiring an additional 1,358 shares during the period. Continuum Advisory LLC raised its position in shares of Northern Trust by 5,340.0% in the 1st quarter. Continuum Advisory LLC now owns 272 shares of the asset manager’s stock valued at $27,000 after acquiring an additional 267 shares during the period. Oppenheimer & Co. Inc. raised its position in shares of Northern Trust by 9.4% in the 1st quarter. Oppenheimer & Co. Inc. now owns 4,443 shares of the asset manager’s stock valued at $438,000 after acquiring an additional 380 shares during the period. Finally, Asset Management One Co. Ltd. raised its position in shares of Northern Trust by 8.4% in the 1st quarter. Asset Management One Co. Ltd. now owns 84,974 shares of the asset manager’s stock valued at $8,383,000 after acquiring an additional 6,570 shares during the period. Institutional investors own 83.19% of the company’s stock.

Northern Trust Stock Performance

Shares of NTRS stock opened at $125.48 on Thursday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.72 and a current ratio of 0.72. The company has a market capitalization of $24.00 billion, a P/E ratio of 14.75, a price-to-earnings-growth ratio of 1.43 and a beta of 1.31. The company’s 50 day moving average price is $129.66 and its two-hundred day moving average price is $117.33. Northern Trust Corporation has a 52 week low of $81.62 and a 52 week high of $135.48.

Northern Trust (NASDAQ:NTRS) last announced its earnings results on Wednesday, October 22nd. The asset manager reported $2.29 EPS for the quarter, topping the consensus estimate of $2.26 by $0.03. The firm had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.02 billion. Northern Trust had a net margin of 11.75% and a return on equity of 14.06%. The business’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period last year, the company posted $2.22 EPS. On average, analysts expect that Northern Trust Corporation will post 8.27 earnings per share for the current fiscal year.

Northern Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 1st. Stockholders of record on Friday, December 5th will be issued a $0.80 dividend. The ex-dividend date is Friday, December 5th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.6%. Northern Trust’s dividend payout ratio (DPR) is 37.60%.

Insider Activity

In other Northern Trust news, Director Robert Edward Jr. Moritz acquired 256 shares of the stock in a transaction dated Wednesday, August 13th. The shares were bought at an average cost of $126.34 per share, for a total transaction of $32,343.04. Following the completion of the acquisition, the director directly owned 2,525 shares of the company’s stock, valued at approximately $319,008.50. This trade represents a 11.28% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.77% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on NTRS. Wells Fargo & Company increased their price target on shares of Northern Trust from $120.00 to $127.00 and gave the company an “equal weight” rating in a research report on Friday, October 3rd. Truist Financial increased their price target on shares of Northern Trust from $132.00 to $142.00 and gave the company a “hold” rating in a research report on Thursday, October 2nd. The Goldman Sachs Group set a $135.00 price target on shares of Northern Trust in a research report on Tuesday, September 30th. Zacks Research downgraded shares of Northern Trust from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 9th. Finally, TD Cowen began coverage on shares of Northern Trust in a research report on Thursday, September 25th. They issued a “buy” rating on the stock. Four investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Northern Trust has an average rating of “Hold” and a consensus price target of $128.23.

Northern Trust Company Profile

Northern Trust Corporation, a financial holding company, provides wealth management, asset servicing, asset management, and banking solutions for corporations, institutions, families, and individuals worldwide. It operates in two segments, Asset Servicing and Wealth Management. The Asset Servicing segment offers asset servicing and related services, including custody, fund administration, investment operations outsourcing, investment management, investment risk and analytical services, employee benefit services, securities lending, foreign exchange, treasury management, brokerage services, transition management services, banking, and cash management services.