Evolve Private Wealth LLC Invests $650,000 in Northern Trust Corporation $NTRS

Evolve Private Wealth LLC acquired a new stake in Northern Trust Corporation (NASDAQ:NTRS) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 3,719 shares of the asset manager’s stock, valued at approximately $650,000.

Other institutional investors also recently modified their holdings of the company. Empowered Funds LLC boosted its stake in Northern Trust by 13.3% during the first 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 increased 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 purchasing an additional 4,653 shares in the last quarter. EverSource Wealth Advisors LLC increased 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 purchasing an additional 596 shares in the last quarter. WINTON GROUP Ltd acquired a new position in shares of Northern Trust during the second quarter valued at about $267,000. Finally, Daiwa Securities Group Inc. raised its holdings 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 valued at $3,714,000 after purchasing an additional 1,275 shares during the period. Institutional investors and hedge funds own 83.19% of the company’s stock.

Wall Street Analyst Weigh In

NTRS has been the subject of several research reports. Zacks Research upgraded Northern Trust from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. Royal Bank Of Canada downgraded Northern Trust from an “outperform” rating to a “sector perform” rating and set a $178.00 price target on the stock. in a research note on Wednesday, July 22nd. Wells Fargo & Company increased 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. Morgan Stanley raised their price objective on Northern Trust from $170.00 to $173.00 and gave the company an “underweight” rating in a research note on Thursday, July 23rd. Finally, Barclays boosted their price objective on Northern Trust from $176.00 to $189.00 and gave the company an “equal weight” rating in a report on Thursday, July 23rd. One 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 issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $180.68.

Northern Trust Stock Up 1.5%

Northern Trust stock opened at $186.66 on Tuesday. The firm has a market capitalization of $34.15 billion, a price-to-earnings ratio of 16.02, a price-to-earnings-growth ratio of 1.04 and a beta of 1.25. The firm’s fifty day moving average price is $181.79 and its two-hundred day moving average price is $163.61. Northern Trust Corporation has a 1-year low of $121.12 and a 1-year 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.

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

Northern Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 4th will be paid a dividend of $0.88 per share. This is an increase from Northern Trust’s previous quarterly dividend of $0.80. The ex-dividend date is Friday, September 4th. This represents a $3.52 dividend on an annualized basis and a yield of 1.9%. Northern Trust’s dividend payout ratio (DPR) is presently 27.47%.

Insider Transactions at Northern Trust

In related news, Director Robert Edward Jr. Moritz acquired 255 shares of the firm’s stock in a transaction on Wednesday, July 29th. The stock was purchased at an average cost of $179.57 per share, with a total value of $45,790.35. Following the acquisition, the director owned 8,400 shares of the company’s stock, valued at approximately $1,508,388. This trade represents a 3.13% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.66% of the company’s stock.

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.