Sanctuary Advisors LLC Acquires New Stake in Northern Trust Corporation $NTRS

Sanctuary Advisors LLC bought a new position in shares of Northern Trust Corporation (NASDAQ:NTRS) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 11,616 shares of the asset manager’s stock, valued at approximately $2,019,000.

A number of other institutional investors have also recently added to or reduced their stakes in NTRS. Empowered Funds LLC raised its stake in shares of Northern Trust by 13.3% in the 1st quarter. Empowered Funds LLC now owns 20,112 shares of the asset manager’s stock worth $1,984,000 after buying an additional 2,363 shares in the last quarter. Woodline Partners LP boosted its stake in Northern Trust by 39.1% during the first quarter. Woodline Partners LP now owns 16,557 shares of the asset manager’s stock valued at $1,633,000 after buying an additional 4,653 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in Northern Trust by 79.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,350 shares of the asset manager’s stock worth $171,000 after acquiring an additional 596 shares during the period. WINTON GROUP Ltd bought a new stake in Northern Trust in the second quarter worth about $267,000. Finally, Daiwa Securities Group Inc. raised its position in Northern Trust by 4.6% in the second quarter. Daiwa Securities Group Inc. now owns 29,290 shares of the asset manager’s stock worth $3,714,000 after acquiring an additional 1,275 shares in the last quarter. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Northern Trust Stock Up 0.4%

NTRS stock opened at $187.66 on Thursday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.65 and a quick ratio of 0.65. The firm has a market capitalization of $34.33 billion, a P/E ratio of 16.11, a P/E/G ratio of 1.05 and a beta of 1.25. Northern Trust Corporation has a 52-week low of $121.12 and a 52-week high of $195.78. The company’s 50 day simple moving average is $182.29 and its 200-day simple moving average is $164.15.

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

Northern Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 4th will be given a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.9%. This is a boost from Northern Trust’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Friday, September 4th. Northern Trust’s payout ratio is 27.47%.

Analysts Set New Price Targets

NTRS has been the subject of several research reports. JPMorgan Chase & Co. raised their price objective on shares of Northern Trust from $179.50 to $185.50 and gave the company a “neutral” rating in a research report on Tuesday, August 4th. Barclays boosted their target price on shares of Northern Trust from $176.00 to $189.00 and gave the stock an “equal weight” rating in a report on Thursday, July 23rd. Wells Fargo & Company raised their target price on shares of Northern Trust from $189.00 to $194.00 and gave the stock an “equal weight” rating in a report on Thursday, July 23rd. Royal Bank Of Canada lowered shares of Northern Trust from an “outperform” rating to a “sector perform” rating and set a $178.00 price target on the stock. in a research report on Wednesday, July 22nd. Finally, Citigroup upped their price target on Northern Trust from $162.00 to $172.00 and gave the company a “neutral” rating in a report on Tuesday, June 30th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Northern Trust presently has an average rating of “Hold” and an average price target of $180.68.

Insider Buying and Selling at Northern Trust

In related news, EVP Thomas A. South sold 1,800 shares of the stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $184.90, for a total value of $332,820.00. Following the completion of the sale, the executive vice president directly owned 92,917 shares of the company’s stock, valued at approximately $17,180,353.30. This represents a 1.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert Edward Jr. Moritz acquired 255 shares of the firm’s stock in a transaction on Wednesday, July 29th. The shares were acquired at an average price of $179.57 per share, with a total value of $45,790.35. Following the completion of the transaction, the director directly owned 8,400 shares in the company, valued at approximately $1,508,388. This trade represents a 3.13% increase in their position. The disclosure for this purchase is available in the SEC filing. 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.