MBB Public Markets I LLC Takes $306,000 Position in Northern Trust Corporation $NTRS

MBB Public Markets I LLC purchased a new stake in shares of Northern Trust Corporation (NASDAQ:NTRS) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 3,100 shares of the asset manager’s stock, valued at approximately $306,000.

Other institutional investors have also recently made changes to their positions in the company. Continuum Advisory LLC grew its holdings in shares of Northern Trust by 5,340.0% during the first quarter. Continuum Advisory LLC now owns 272 shares of the asset manager’s stock valued at $27,000 after buying an additional 267 shares during the last quarter. Zions Bancorporation National Association UT purchased a new stake in shares of Northern Trust during the first quarter valued at approximately $29,000. Wayfinding Financial LLC purchased a new stake in shares of Northern Trust during the first quarter valued at approximately $35,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Northern Trust during the first quarter valued at approximately $43,000. Finally, Assetmark Inc. grew its holdings in shares of Northern Trust by 54.9% during the first quarter. Assetmark Inc. now owns 584 shares of the asset manager’s stock valued at $58,000 after buying an additional 207 shares during the last quarter. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Analysts Set New Price Targets

NTRS has been the topic of a number of recent analyst reports. Evercore ISI increased their price target on shares of Northern Trust from $108.00 to $121.00 and gave the company an “in-line” rating in a report on Wednesday, July 2nd. Royal Bank Of Canada set a $123.00 price objective on shares of Northern Trust and gave the company an “outperform” rating in a research report on Monday, June 30th. Keefe, Bruyette & Woods restated an “underperform” rating and set a $118.00 price objective (down previously from $120.00) on shares of Northern Trust in a research report on Thursday, July 24th. Wolfe Research upgraded shares of Northern Trust from an “underperform” rating to a “peer perform” rating in a research report on Thursday, July 24th. Finally, Wells Fargo & Company increased their price objective on shares of Northern Trust from $111.00 to $120.00 and gave the company an “equal weight” rating in a research report on Thursday, July 24th. Two investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Northern Trust currently has a consensus rating of “Reduce” and an average price target of $119.58.

Insider Buying and Selling at Northern Trust

In other Northern Trust news, Director Robert Edward Jr. Moritz purchased 256 shares of the company’s stock in a transaction dated Wednesday, August 13th. The shares were acquired at an average price of $126.34 per share, for a total transaction of $32,343.04. Following the purchase, the director directly owned 2,525 shares of the company’s stock, valued at $319,008.50. The trade was a 11.28% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.77% of the stock is owned by corporate insiders.

Northern Trust Trading Down 1.4%

Shares of Northern Trust stock opened at $127.06 on Thursday. The company’s fifty day simple moving average is $128.04 and its 200-day simple moving average is $111.37. The stock has a market capitalization of $24.30 billion, a PE ratio of 14.93, a P/E/G ratio of 1.53 and a beta of 1.30. Northern Trust Corporation has a 1-year low of $81.62 and a 1-year high of $133.00. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.72 and a quick ratio of 0.72.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings results on Wednesday, July 23rd. The asset manager reported $2.13 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.05. The business had revenue of $2 billion for the quarter, compared to analysts’ expectations of $1.96 billion. Northern Trust had a net margin of 11.75% and a return on equity of 14.06%. The company’s revenue was down 26.4% compared to the same quarter last year. During the same quarter last year, the company posted $4.34 EPS. As a group, equities analysts anticipate that Northern Trust Corporation will post 8.27 earnings per share for the current year.

Northern Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 5th will be paid a dividend of $0.80 per share. The ex-dividend date is Friday, September 5th. This represents a $3.20 annualized dividend and a dividend yield of 2.5%. This is a boost from Northern Trust’s previous quarterly dividend of $0.75. Northern Trust’s dividend payout ratio is 37.60%.

About Northern Trust

Northern Trust Corporation, a financial holding company, provides wealth management, asset servicing, asset management, and banking solutions for corporations, institutions, families, and individuals worldwide. It operates in two segments, Asset Servicing and Wealth Management. The Asset Servicing segment offers asset servicing and related services, including custody, fund administration, investment operations outsourcing, investment management, investment risk and analytical services, employee benefit services, securities lending, foreign exchange, treasury management, brokerage services, transition management services, banking, and cash management services.