4,021 Shares of Northern Trust Corporation $NTRS Bought by Patton Albertson Miller Group LLC

Patton Albertson Miller Group LLC bought a new stake in Northern Trust Corporation (NASDAQ:NTRS) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 4,021 shares of the asset manager’s stock, valued at approximately $681,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. HWG Holdings LP purchased a new stake in Northern Trust during the third quarter valued at approximately $4,470,000. Renaissance Technologies LLC bought a new position in Northern Trust in the first quarter worth approximately $2,303,000. Oppenheimer Asset Management Inc. purchased a new position in shares of Northern Trust during the 2nd quarter worth $25,721,000. Bank of America Corp DE boosted its stake in shares of Northern Trust by 5.6% during the 1st quarter. Bank of America Corp DE now owns 622,852 shares of the asset manager’s stock worth $86,931,000 after acquiring an additional 33,029 shares during the last quarter. Finally, Nykredit A S purchased a new position in shares of Northern Trust during the 2nd quarter worth $11,432,000. 83.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. BMO Capital Markets cut their price objective on shares of Northern Trust from $208.00 to $190.00 and set an “outperform” rating for the company in a research report on Tuesday, October 6th. JPMorgan Chase & Co. decreased their target price on Northern Trust from $185.50 to $185.00 and set a “neutral” rating on the stock in a report on Friday, October 2nd. Weiss Ratings downgraded Northern Trust from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday. Bank of America boosted their price target on Northern Trust from $190.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Finally, Citigroup cut their price target on Northern Trust from $186.00 to $170.00 and set a “neutral” rating for the company in a report on Friday. Three research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $183.47.

Insider Activity at Northern Trust

In related news, EVP Thomas A. South sold 1,800 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $184.90, for a total value of $332,820.00. Following the transaction, the executive vice president directly owned 92,917 shares of the company’s stock, valued at approximately $17,180,353.30. The trade was a 1.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert Moritz, Jr. acquired 255 shares of the business’s stock in a transaction on Wednesday, July 29th. The shares were bought at an average cost of $179.57 per share, with a total value of $45,790.35. Following the completion of the acquisition, the director owned 8,400 shares in the company, valued at approximately $1,508,388. This represents a 3.13% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.66% of the stock is currently owned by company insiders.

Northern Trust Stock Performance

NTRS opened at $169.55 on Tuesday. The company has a 50 day simple moving average of $177.27 and a two-hundred day simple moving average of $164.63. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.61 and a quick ratio of 0.65. The firm has a market cap of $31.02 billion, a P/E ratio of 14.51, a PEG ratio of 0.93 and a beta of 1.24. Northern Trust Corporation has a 1-year low of $121.53 and a 1-year high of $195.78.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings data on Wednesday, October 21st. The asset manager reported $3.40 EPS for the quarter, beating the consensus estimate of $2.87 by $0.53. Northern Trust had a net margin of 15.86% and a return on equity of 17.97%. The firm had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same period last year, the firm earned $2.29 EPS. The company’s revenue was up 13.4% on a year-over-year basis. Equities analysts forecast that Northern Trust Corporation will post 11.95 earnings per share for the current fiscal year.

Northern Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 1st. Stockholders of record on Friday, December 4th will be paid a $0.88 dividend. The ex-dividend date of this dividend is Friday, December 4th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.1%. Northern Trust’s dividend payout ratio is 27.59%.

About Northern Trust

Northern Trust Corporation (NASDAQ:NTRS) is a financial services company that provides wealth management, asset servicing, asset management and banking services. The company serves institutional investors, corporations, financial institutions, high-net-worth individuals and families.

Its offerings include custody and administration of investment assets, fund accounting, securities lending, foreign exchange, treasury services, investment management, trust and estate services, private banking and wealth planning.