Opal Capital LLC Takes Position in Northern Trust Corporation $NTRS

Opal Capital LLC bought a new stake in shares of Northern Trust Corporation (NASDAQ:NTRS) during the 1st quarter, according to its most recent filing with the SEC. The firm bought 7,518 shares of the asset manager’s stock, valued at approximately $1,049,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NTRS. Reflection Asset Management purchased a new position in Northern Trust in the 4th quarter worth approximately $25,000. Triumph Capital Management purchased a new stake in shares of Northern Trust during the third quarter valued at approximately $25,000. Elyxium Wealth LLC purchased a new stake in shares of Northern Trust during the fourth quarter valued at approximately $34,000. International Assets Investment Management LLC acquired a new position in shares of Northern Trust during the fourth quarter worth $35,000. Finally, Transamerica Financial Advisors LLC lifted its position in shares of Northern Trust by 54.1% during the fourth quarter. Transamerica Financial Advisors LLC now owns 265 shares of the asset manager’s stock worth $36,000 after purchasing an additional 93 shares in the last quarter. 83.19% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. BMO Capital Markets raised shares of Northern Trust from a “market perform” rating to an “outperform” rating and set a $168.00 price target for the company in a report on Monday, April 6th. JPMorgan Chase & Co. boosted their price objective on shares of Northern Trust from $170.00 to $179.50 and gave the stock a “neutral” rating in a report on Monday, July 6th. Morgan Stanley upped their price objective on shares of Northern Trust from $170.00 to $173.00 and gave the company an “underweight” rating in a research report on Thursday, July 23rd. Truist Financial raised their target price on Northern Trust from $176.00 to $186.00 and gave the company a “hold” rating in a research note on Friday, June 26th. Finally, Evercore set a $179.00 target price on Northern Trust in a research note on Monday, July 6th. One research 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 given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $180.25.

Northern Trust Stock Performance

Northern Trust stock opened at $180.86 on Wednesday. Northern Trust Corporation has a 52 week low of $121.12 and a 52 week high of $191.60. The company has a current ratio of 0.65, a quick ratio of 0.62 and a debt-to-equity ratio of 0.43. The stock has a market cap of $33.47 billion, a P/E ratio of 15.52, a price-to-earnings-growth ratio of 1.14 and a beta of 1.25. The stock has a 50 day moving average of $175.47 and a 200-day moving average of $158.51.

Northern Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors 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 annualized dividend and a 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%.

Insider Buying and Selling

In related news, Director Robert Edward Jr. Moritz acquired 225 shares of Northern Trust stock in a transaction on Friday, May 1st. The shares were purchased at an average cost of $166.41 per share, for a total transaction of $37,442.25. Following the purchase, the director directly owned 8,145 shares of the company’s stock, valued at $1,355,409.45. The trade was a 2.84% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.66% of the stock is owned by company insiders.

About Northern Trust

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.