Callan Family Office LLC Invests $523,000 in Northern Trust Corporation $NTRS

Callan Family Office LLC bought a new stake in Northern Trust Corporation (NASDAQ:NTRS) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,006 shares of the asset manager’s stock, valued at approximately $523,000.

Other large investors have also added to or reduced their stakes in the company. Keating Financial Advisory Services Inc. acquired a new position in Northern Trust in the 2nd quarter worth $31,000. Triumph Capital Management acquired a new stake in shares of Northern Trust during the third quarter valued at about $25,000. Reflection Asset Management acquired a new stake in shares of Northern Trust during the fourth quarter valued at about $25,000. Basecamp Wealth Advisors LLC increased its position in shares of Northern Trust by 99.0% during the first quarter. Basecamp Wealth Advisors LLC now owns 203 shares of the asset manager’s stock worth $28,000 after acquiring an additional 101 shares during the last quarter. Finally, Clearstead Trust LLC purchased a new stake in shares of Northern Trust during the second quarter worth about $37,000. 83.19% of the stock is owned by institutional investors and hedge funds.

Northern Trust Stock Up 0.1%

NTRS stock opened at $186.82 on Wednesday. The firm has a market cap of $34.18 billion, a price-to-earnings ratio of 16.04, a PEG ratio of 1.05 and a beta of 1.25. Northern Trust Corporation has a 1-year low of $121.12 and a 1-year high of $195.78. The firm has a fifty day moving average price of $182.03 and a two-hundred day moving average price of $163.87. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.65 and a quick ratio of 0.65.

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

Northern Trust Increases Dividend

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

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Wells Fargo & Company increased their price target on Northern Trust from $189.00 to $194.00 and gave the company an “equal weight” rating in a report on Thursday, July 23rd. Weiss Ratings restated a “buy (b)” rating on shares of Northern Trust in a report on Friday, July 31st. Evercore set a $179.00 target price on Northern Trust in a research report on Monday, July 6th. Citigroup increased their target price on Northern Trust from $162.00 to $172.00 and gave the company a “neutral” rating in a research note on Tuesday, June 30th. Finally, Zacks Research raised shares of Northern Trust from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, four have issued 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 a consensus target price of $180.68.

Insiders Place Their Bets

In other news, EVP Thomas A. South sold 1,800 shares of the business’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $184.90, for a total transaction of $332,820.00. Following the completion of the transaction, the executive vice president 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Robert Edward Jr. Moritz purchased 255 shares of the stock in a transaction dated Wednesday, July 29th. The shares were purchased at an average price of $179.57 per share, with a total value of $45,790.35. Following the transaction, the director directly owned 8,400 shares of the company’s stock, valued at approximately $1,508,388. The trade was a 3.13% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.66% of the stock is owned by corporate 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.