Dearborn Partners LLC Purchases Shares of 9,142 Northern Trust Corporation $NTRS

Dearborn Partners LLC purchased a new stake in Northern Trust Corporation (NASDAQ:NTRS) during the second quarter, according to its most recent 13F filing with the SEC. The firm purchased 9,142 shares of the asset manager’s stock, valued at approximately $1,276,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of NTRS. Empowered Funds LLC raised its stake in shares of Northern Trust by 13.3% during the 1st quarter. Empowered Funds LLC now owns 20,112 shares of the asset manager’s stock worth $1,984,000 after acquiring an additional 2,363 shares in the last quarter. Woodline Partners LP boosted its stake in Northern Trust by 39.1% in the first quarter. Woodline Partners LP now owns 16,557 shares of the asset manager’s stock valued at $1,633,000 after acquiring an additional 4,653 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Northern Trust by 79.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,350 shares of the asset manager’s stock valued at $171,000 after acquiring an additional 596 shares in the last quarter. WINTON GROUP Ltd purchased a new position in Northern Trust in the second quarter worth $267,000. Finally, Daiwa Securities Group Inc. increased its position in shares of Northern Trust by 4.6% during the second quarter. Daiwa Securities Group Inc. now owns 29,290 shares of the asset manager’s stock worth $3,714,000 after purchasing an additional 1,275 shares in the last quarter. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Insider Activity

In other news, Director Robert Edward Jr. Moritz acquired 255 shares of Northern Trust stock in a transaction dated Wednesday, July 29th. The stock was purchased at an average cost of $179.57 per share, for a total transaction of $45,790.35. Following the completion of the purchase, the director directly owned 8,400 shares in the company, valued at $1,508,388. This trade represents a 3.13% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.66% of the stock is currently owned by insiders.

Northern Trust Trading Up 1.5%

NASDAQ:NTRS opened at $186.66 on Tuesday. The company has a market capitalization of $34.15 billion, a P/E ratio of 16.02, a PEG ratio of 1.04 and a beta of 1.25. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.43. Northern Trust Corporation has a 12 month low of $121.12 and a 12 month high of $195.78. The firm has a fifty day simple moving average of $181.79 and a 200-day simple moving average of $163.61.

Northern Trust (NASDAQ:NTRS) last released its earnings results on Wednesday, July 22nd. The asset manager reported $4.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.71 by $1.52. The firm had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.69 billion. Northern Trust had a return on equity of 16.91% and a net margin of 14.76%.The firm’s revenue was up 35.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.13 EPS. On average, equities research analysts anticipate that Northern Trust Corporation will post 11.59 earnings per share for the current year.

Northern Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 4th will be issued a $0.88 dividend. This is a boost from Northern Trust’s previous quarterly dividend of $0.80. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, September 4th. Northern Trust’s dividend payout ratio is currently 27.47%.

Analyst Ratings Changes

Several analysts have recently commented on NTRS shares. JPMorgan Chase & Co. increased their price objective on Northern Trust from $179.50 to $185.50 and gave the company a “neutral” rating in a report on Tuesday, August 4th. Keefe, Bruyette & Woods boosted their target price on Northern Trust from $157.00 to $175.00 and gave the stock an “underperform” rating in a research note on Thursday, July 9th. Bank of America upped their target price on Northern Trust from $190.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Royal Bank Of Canada cut Northern Trust from an “outperform” rating to a “sector perform” rating and set a $178.00 price target for the company. in a research note on Wednesday, July 22nd. Finally, Wells Fargo & Company raised their price target on Northern Trust from $189.00 to $194.00 and gave the stock an “equal weight” rating in a report on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Northern Trust currently has an average rating of “Hold” and a consensus target price of $180.68.

Northern Trust Company 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.