111 Capital bought a new stake in Northern Trust Corporation (NASDAQ:NTRS - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,573 shares of the asset manager's stock, valued at approximately $707,000.
Several other large investors have also modified their holdings of NTRS. QRG Capital Management Inc. boosted its stake in Northern Trust by 100.3% during the 2nd quarter. QRG Capital Management Inc. now owns 9,155 shares of the asset manager's stock worth $1,161,000 after purchasing an additional 4,584 shares during the period. Ascent Group LLC boosted its stake in Northern Trust by 16.3% during the 2nd quarter. Ascent Group LLC now owns 7,737 shares of the asset manager's stock worth $981,000 after purchasing an additional 1,082 shares during the period. Ameritas Advisory Services LLC acquired a new stake in Northern Trust during the 2nd quarter worth $72,000. Parsons Capital Management Inc. RI acquired a new stake in Northern Trust during the 2nd quarter worth $211,000. Finally, First Pacific Financial acquired a new stake in Northern Trust during the 2nd quarter worth $3,118,000. Institutional investors and hedge funds own 83.19% of the company's stock.
Insider Activity
In other news, Director Robert Edward Jr. Moritz purchased 256 shares of the firm's stock in a transaction on Wednesday, August 13th. The shares were bought at an average cost of $126.34 per share, with a total value of $32,343.04. Following the purchase, the director directly owned 2,525 shares of the company's stock, valued at approximately $319,008.50. This trade represents a 11.28% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.77% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
NTRS has been the subject of a number of recent research reports. Citigroup increased their price target on shares of Northern Trust from $110.00 to $135.00 and gave the stock a "neutral" rating in a research note on Friday, September 5th. Evercore ISI increased their price target on shares of Northern Trust from $125.00 to $135.00 and gave the stock an "in-line" rating in a research note on Tuesday, September 30th. TD Cowen started coverage on shares of Northern Trust in a research note on Thursday, September 25th. They set a "buy" rating for the company. Royal Bank Of Canada set a $123.00 price objective on shares of Northern Trust and gave the stock an "outperform" rating in a research report on Monday, June 30th. Finally, Wolfe Research upgraded shares of Northern Trust from an "underperform" rating to a "peer perform" rating in a research report on Thursday, July 24th. Four analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $128.23.
Check Out Our Latest Stock Analysis on Northern Trust
Northern Trust Stock Performance
NASDAQ:NTRS opened at $132.40 on Friday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.58. The firm has a 50-day moving average price of $129.46 and a two-hundred day moving average price of $114.69. Northern Trust Corporation has a twelve month low of $81.62 and a twelve month high of $135.48. The company has a market capitalization of $25.32 billion, a P/E ratio of 15.56, a price-to-earnings-growth ratio of 1.57 and a beta of 1.31.
Northern Trust (NASDAQ:NTRS - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The asset manager reported $2.13 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.05. Northern Trust had a net margin of 11.75% and a return on equity of 14.06%. The firm had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same period last year, the firm posted $4.34 EPS. The firm's revenue for the quarter was down 26.4% on a year-over-year basis. As a group, research analysts expect that Northern Trust Corporation will post 8.27 earnings per share for the current fiscal year.
Northern Trust Increases Dividend
The company also recently declared 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. The ex-dividend date of this dividend was Friday, September 5th. This represents a $3.20 annualized dividend and a dividend yield of 2.4%. This is an increase from Northern Trust's previous quarterly dividend of $0.75. Northern Trust's dividend payout ratio is 37.60%.
About Northern Trust
(
Free Report)
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.
See Also

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Northern Trust, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Northern Trust wasn't on the list.
While Northern Trust currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.