Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Northern Trust Corporation (NASDAQ:NTRS – Free Report) in the 2nd quarter, Holdings Channel reports. The institutional investor acquired 12,967 shares of the asset manager’s stock, valued at approximately $2,254,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Reflection Asset Management bought a new stake in shares of Northern Trust during the 4th quarter valued at about $25,000. Triumph Capital Management bought a new position in shares of Northern Trust in the third quarter worth approximately $25,000. Basecamp Wealth Advisors LLC raised its stake in Northern Trust by 99.0% in the first quarter. Basecamp Wealth Advisors LLC now owns 203 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 101 shares in the last quarter. Keating Financial Advisory Services Inc. bought a new stake in Northern Trust during the second quarter valued at approximately $31,000. Finally, Elyxium Wealth LLC bought a new stake in Northern Trust during the fourth quarter valued at approximately $34,000. 83.19% of the stock is currently owned by hedge funds and other institutional investors.
Northern Trust Stock Up 1.5%
NTRS opened at $186.66 on Tuesday. Northern Trust Corporation has a 12 month low of $121.12 and a 12 month high of $195.78. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.43. The business’s 50-day moving average price is $181.79 and its 200-day moving average price is $163.61. The company has a market cap of $34.15 billion, a P/E ratio of 16.02, a P/E/G ratio of 1.04 and a beta of 1.25.
Northern Trust Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 4th will be paid a $0.88 dividend. The ex-dividend date of this dividend is Friday, September 4th. This is a positive change from Northern Trust’s previous quarterly dividend of $0.80. This represents a $3.52 annualized dividend and a dividend yield of 1.9%. Northern Trust’s payout ratio is presently 27.47%.
Analyst Ratings Changes
NTRS has been the topic of a number of research analyst reports. Evercore set a $179.00 price target on shares of Northern Trust in a report on Monday, July 6th. UBS Group set a $186.00 target price on Northern Trust in a research note on Friday, June 26th. Citigroup raised their price target on Northern Trust from $162.00 to $172.00 and gave the company a “neutral” rating in a research report on Tuesday, June 30th. Truist Financial lifted their price target on Northern Trust from $176.00 to $186.00 and gave the stock a “hold” rating in a research note on Friday, June 26th. Finally, Royal Bank Of Canada lowered Northern Trust from an “outperform” rating to a “sector perform” rating and set a $178.00 price objective on the stock. in a research report on Wednesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $180.68.
Get Our Latest Analysis on NTRS
Insider Activity at Northern Trust
In other news, Director Robert Edward Jr. Moritz purchased 255 shares of the stock in a transaction that occurred on Wednesday, July 29th. The stock was bought at an average cost of $179.57 per share, for a total transaction of $45,790.35. Following the acquisition, the director directly owned 8,400 shares of the company’s stock, valued at $1,508,388. This represents a 3.13% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.66% of the stock is currently owned by insiders.
Northern Trust Profile
Northern Trust Corporation (NASDAQ: NTRS) is a global financial services firm headquartered in Chicago that provides asset servicing, asset management and wealth management solutions to institutions, corporations and high-net-worth individuals. The company’s core businesses include custody and fund administration, investment operations outsourcing, trust and fiduciary services, private banking, and retirement and defined contribution plan services.
Northern Trust’s product and service offerings span custody and fund accounting, portfolio and performance analytics, securities lending, cash management and foreign exchange, as well as discretionary and non-discretionary investment management.
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