24,590 Shares in Northern Trust Corporation $NTRS Acquired by First Pacific Financial

Key Points

• First Pacific Financial has acquired a new stake of 24,590 shares in Northern Trust Corporation, valued at approximately $3.12 million.
• Northern Trust recently increased its quarterly dividend to $0.80 per share, up from $0.75, reflecting a 2.4% dividend yield.
• Research firms have varied perspectives on Northern Trust's stock, with Truist Financial and Barclays increasing their price targets, indicating a consensus rating of "Hold" with an average target price of $125.67.

First Pacific Financial purchased a new stake in Northern Trust Corporation (NASDAQ:NTRS - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund purchased 24,590 shares of the asset manager's stock, valued at approximately $3,118,000.

Several other institutional investors also recently made changes to their positions in the stock. MassMutual Private Wealth & Trust FSB raised its stake in Northern Trust by 9.0% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,062 shares of the asset manager's stock worth $135,000 after acquiring an additional 88 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in Northern Trust by 0.4% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,798 shares of the asset manager's stock worth $2,764,000 after acquiring an additional 95 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Northern Trust by 0.6% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 17,814 shares of the asset manager's stock worth $2,346,000 after purchasing an additional 105 shares during the period. Mather Group LLC. boosted its position in shares of Northern Trust by 3.1% during the 2nd quarter. Mather Group LLC. now owns 3,532 shares of the asset manager's stock valued at $448,000 after acquiring an additional 106 shares in the last quarter. Finally, Harbor Investment Advisory LLC boosted its position in shares of Northern Trust by 68.4% during the 2nd 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 in the last quarter. 83.19% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on NTRS. Truist Financial boosted their price target on shares of Northern Trust from $128.00 to $132.00 and gave the company a "hold" rating in a research report on Thursday, August 14th. Zacks Research lowered shares of Northern Trust from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 9th. TD Cowen began coverage on shares of Northern Trust in a research report on Thursday, September 25th. They issued a "buy" rating on the stock. Barclays boosted their price target on shares of Northern Trust from $128.00 to $136.00 and gave the company an "equal weight" rating in a research report on Thursday, July 24th. Finally, Royal Bank Of Canada set a $123.00 target price on shares of Northern Trust and gave the stock an "outperform" rating in a research report on Monday, June 30th. Three 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. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $125.67.

Northern Trust Stock Up 0.5%

Northern Trust stock opened at $134.60 on Wednesday. The company has a market capitalization of $25.74 billion, a PE ratio of 15.82, a PEG ratio of 1.59 and a beta of 1.30. The firm's fifty day moving average is $129.18 and its 200 day moving average is $113.99. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.58. Northern Trust Corporation has a 12-month low of $81.62 and a 12-month high of $135.48.

Northern Trust (NASDAQ:NTRS - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The asset manager reported $2.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.08 by $0.05. The firm had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.96 billion. Northern Trust had a net margin of 11.75% and a return on equity of 14.06%. The company's revenue for the quarter was down 26.4% on a year-over-year basis. During the same period in the prior year, the firm posted $4.34 earnings per share. As a group, sell-side analysts predict that Northern Trust Corporation will post 8.27 EPS for the current fiscal year.

Northern Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 5th will be paid a $0.80 dividend. This is an increase from Northern Trust's previous quarterly dividend of $0.75. This represents a $3.20 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, September 5th. Northern Trust's payout ratio is currently 37.60%.

Insider Activity at Northern Trust

In other 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 acquisition, the director owned 2,525 shares of the company's stock, valued at approximately $319,008.50. This represents a 11.28% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.77% of the company's stock.

Northern Trust 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.

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