Graves Light Lenhart Wealth Inc. Buys Shares of 2,000 Northern Trust Corporation $NTRS

Key Points

• Graves Light Lenhart Wealth Inc. bought 2,000 shares of Northern Trust Corporation (NTRS), valued at approximately $254,000, marking a significant move in their investment portfolio.
• Analyst ratings for Northern Trust show a consensus rating of "Reduce" with a target price averaging $119.58, indicating mixed sentiment among investment analysts.
• Northern Trust announced a quarterly dividend increase from $0.75 to $0.80 per share, reflecting a commitment to returning value to shareholders.

Graves Light Lenhart Wealth Inc. acquired a new stake in Northern Trust Corporation (NASDAQ:NTRS - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 2,000 shares of the asset manager's stock, valued at approximately $254,000.

Several other institutional investors and hedge funds have also recently modified their holdings of NTRS. Continuum Advisory LLC increased its holdings in shares of Northern Trust by 5,340.0% in the first quarter. Continuum Advisory LLC now owns 272 shares of the asset manager's stock valued at $27,000 after purchasing an additional 267 shares during the last quarter. Zions Bancorporation National Association UT acquired a new position in shares of Northern Trust in the first quarter valued at $29,000. Wayfinding Financial LLC acquired a new position in shares of Northern Trust in the first quarter valued at $35,000. Harbor Investment Advisory LLC increased its holdings in shares of Northern Trust by 68.4% in the second quarter. Harbor Investment Advisory LLC now owns 320 shares of the asset manager's stock valued at $41,000 after purchasing an additional 130 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of Northern Trust in the first quarter valued at about $43,000. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NTRS. Truist Financial upped their price target on shares of Northern Trust from $128.00 to $132.00 and gave the company a "hold" rating in a research note on Thursday, August 14th. Wolfe Research upgraded shares of Northern Trust from an "underperform" rating to a "peer perform" rating in a research note on Thursday, July 24th. The Goldman Sachs Group upped their price target on shares of Northern Trust from $89.00 to $101.00 and gave the company a "sell" rating in a research note on Wednesday, July 2nd. Citigroup upped their price target on shares of Northern Trust from $110.00 to $135.00 and gave the company a "neutral" rating in a research note on Friday, September 5th. Finally, Zacks Research downgraded shares of Northern Trust from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 9th. Two equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Reduce" and an average price target of $119.58.

Northern Trust Trading Down 0.5%

NASDAQ NTRS traded down $0.72 during trading hours on Friday, reaching $131.50. The company's stock had a trading volume of 2,960,636 shares, compared to its average volume of 1,002,896. The firm has a fifty day simple moving average of $128.33 and a 200-day simple moving average of $112.43. The stock has a market cap of $25.15 billion, a P/E ratio of 15.45, a P/E/G ratio of 1.56 and a beta of 1.30. Northern Trust Corporation has a 52 week low of $81.62 and a 52 week 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 - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The asset manager reported $2.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.08 by $0.05. The business had revenue of $2 billion during the quarter, compared to analyst estimates of $1.96 billion. Northern Trust had a net margin of 11.75% and a return on equity of 14.06%. The firm's quarterly revenue was down 26.4% on a year-over-year basis. During the same quarter last year, the business earned $4.34 EPS. Equities analysts forecast that Northern Trust Corporation will post 8.27 earnings per share for the current fiscal year.

Northern Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 5th will be issued a $0.80 dividend. This is a boost from Northern Trust's previous quarterly dividend of $0.75. The ex-dividend date is Friday, September 5th. This represents a $3.20 dividend on an annualized basis and a yield of 2.4%. Northern Trust's dividend payout ratio (DPR) is 37.60%.

Insider Transactions at Northern Trust

In other Northern Trust news, Director Robert Edward Jr. Moritz acquired 256 shares of the company's stock in a transaction that occurred on Wednesday, August 13th. The stock was acquired at an average price of $126.34 per share, for a total transaction of $32,343.04. Following the acquisition, the director directly owned 2,525 shares in the company, valued at $319,008.50. This represents a 11.28% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.77% of the stock is currently owned by company insiders.

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.