Northern Trust Corporation $NTRS Shares Bought by Brown Miller Wealth Management LLC

Brown Miller Wealth Management LLC grew its position in shares of Northern Trust Corporation (NASDAQ:NTRS) by 5.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,734 shares of the asset manager’s stock after purchasing an additional 180 shares during the period. Brown Miller Wealth Management LLC’s holdings in Northern Trust were worth $473,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in NTRS. Massachusetts Financial Services Co. MA increased its stake in Northern Trust by 4.9% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 7,850,088 shares of the asset manager’s stock worth $774,411,000 after buying an additional 363,472 shares during the period. Invesco Ltd. grew its stake in shares of Northern Trust by 19.3% during the first quarter. Invesco Ltd. now owns 3,443,599 shares of the asset manager’s stock valued at $339,711,000 after acquiring an additional 558,287 shares in the last quarter. American Century Companies Inc. increased its position in shares of Northern Trust by 0.7% during the first quarter. American Century Companies Inc. now owns 3,013,123 shares of the asset manager’s stock worth $297,245,000 after acquiring an additional 20,010 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Northern Trust by 47.8% in the first quarter. Bank of New York Mellon Corp now owns 1,810,816 shares of the asset manager’s stock worth $178,637,000 after acquiring an additional 585,992 shares in the last quarter. Finally, Confluence Investment Management LLC boosted its holdings in Northern Trust by 6.6% in the second quarter. Confluence Investment Management LLC now owns 1,184,610 shares of the asset manager’s stock valued at $150,197,000 after purchasing an additional 72,867 shares during the last quarter. 83.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Weiss Ratings restated a “buy (b-)” rating on shares of Northern Trust in a report on Saturday, September 27th. Keefe, Bruyette & Woods reissued an “underperform” rating and set a $118.00 price target (down previously from $120.00) on shares of Northern Trust in a research report on Thursday, July 24th. Wolfe Research raised shares of Northern Trust from an “underperform” rating to a “peer perform” rating in a report on Thursday, July 24th. The Goldman Sachs Group set a $135.00 price objective on shares of Northern Trust in a report on Tuesday. Finally, Wells Fargo & Company upped their target price on shares of Northern Trust from $120.00 to $127.00 and gave the company an “equal weight” rating in a research note on Friday. Four equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $128.23.

Insider Activity

In other Northern Trust news, Director Robert Edward Jr. Moritz acquired 256 shares of Northern Trust stock in a transaction that occurred on Wednesday, August 13th. The stock was purchased at an average cost of $126.34 per share, with a total value of $32,343.04. Following the purchase, the director owned 2,525 shares in the company, valued at approximately $319,008.50. The trade was a 11.28% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.77% of the stock is owned by insiders.

Northern Trust Trading Down 0.6%

Shares of NASDAQ NTRS opened at $132.40 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.58. Northern Trust Corporation has a 12 month low of $81.62 and a 12 month high of $135.48. The company has a market cap of $25.32 billion, a price-to-earnings ratio of 15.56, a P/E/G ratio of 1.57 and a beta of 1.31. The business has a fifty day simple moving average of $129.46 and a 200-day simple moving average of $114.69.

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

Northern Trust Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Friday, September 5th were paid a dividend of $0.80 per share. This is an increase from Northern Trust’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Friday, September 5th. This represents a $3.20 annualized dividend and a yield of 2.4%. Northern Trust’s dividend payout ratio (DPR) is presently 37.60%.

Northern Trust Company Profile

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.