2,000 Shares in Northern Trust Corporation $NTRS Bought by Graves Light Lenhart Wealth Inc.

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. purchased a new stake in Northern Trust Corporation (NASDAQ:NTRS - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 2,000 shares of the asset manager's stock, valued at approximately $254,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NTRS. Continuum Advisory LLC lifted its position in 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 acquiring an additional 267 shares during the last quarter. Zions Bancorporation National Association UT purchased a new stake in Northern Trust in the first quarter valued at $29,000. Wayfinding Financial LLC purchased a new stake in Northern Trust in the first quarter valued at $35,000. Harbor Investment Advisory LLC lifted its position in 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 acquiring an additional 130 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in Northern Trust in the first quarter valued at $43,000. 83.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NTRS has been the subject of a number of research reports. Wells Fargo & Company boosted their price target on shares of Northern Trust from $111.00 to $120.00 and gave the company an "equal weight" rating in a research report on Thursday, July 24th. Truist Financial upped their target price on shares of Northern Trust from $128.00 to $132.00 and gave the company a "hold" rating in a report on Thursday, August 14th. Royal Bank Of Canada set a $123.00 target price on shares of Northern Trust and gave the company an "outperform" rating in a report on Monday, June 30th. Wall Street Zen cut shares of Northern Trust from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. Finally, Keefe, Bruyette & Woods reaffirmed an "underperform" rating and issued a $118.00 target price (down from $120.00) on shares of Northern Trust in a report on Thursday, July 24th. Two investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Reduce" and a consensus price target of $119.58.

Insider Activity at Northern Trust

In other Northern Trust news, Director Robert Edward Jr. Moritz purchased 256 shares of the stock in a transaction dated Wednesday, August 13th. The shares were acquired at an average cost of $126.34 per share, for a total transaction of $32,343.04. Following the completion of the transaction, the director directly owned 2,525 shares of the company's stock, valued at $319,008.50. This trade represents a 11.28% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 0.77% of the stock is owned by corporate insiders.

Northern Trust Trading Down 0.8%

Shares of NTRS opened at $129.25 on Wednesday. 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's 50-day moving average is $128.05 and its two-hundred day moving average is $111.91. Northern Trust Corporation has a twelve month low of $81.62 and a twelve month high of $133.00. The firm has a market capitalization of $24.72 billion, a P/E ratio of 15.19, a PEG ratio of 1.55 and a beta of 1.30.

Northern Trust (NASDAQ:NTRS - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The asset manager reported $2.13 earnings per share for the quarter, topping 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 company had revenue of $2 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same period in the prior year, the business posted $4.34 earnings per share. The firm's revenue for the quarter was down 26.4% compared to the same quarter last year. On average, research analysts predict that Northern Trust Corporation will post 8.27 earnings per share for the current fiscal year.

Northern Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 5th will be given a $0.80 dividend. This is a boost from Northern Trust's previous quarterly dividend of $0.75. This represents a $3.20 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Friday, September 5th. Northern Trust's dividend payout ratio (DPR) is currently 37.60%.

About Northern Trust

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.

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