Alta Wealth Advisors LLC Buys Shares of 4,188 Northern Trust Corporation (NASDAQ:NTRS)

Alta Wealth Advisors LLC purchased a new stake in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 4,188 shares of the asset manager's stock, valued at approximately $413,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ellevest Inc. grew its position in Northern Trust by 3.4% in the fourth quarter. Ellevest Inc. now owns 3,410 shares of the asset manager's stock worth $350,000 after acquiring an additional 113 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its stake in Northern Trust by 29.8% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 597 shares of the asset manager's stock worth $61,000 after purchasing an additional 137 shares during the last quarter. Moors & Cabot Inc. boosted its holdings in shares of Northern Trust by 4.0% in the 4th quarter. Moors & Cabot Inc. now owns 3,560 shares of the asset manager's stock worth $365,000 after purchasing an additional 137 shares in the last quarter. Fifth Third Bancorp increased its position in shares of Northern Trust by 1.7% during the 1st quarter. Fifth Third Bancorp now owns 10,876 shares of the asset manager's stock valued at $1,073,000 after purchasing an additional 179 shares during the last quarter. Finally, Parallel Advisors LLC increased its position in shares of Northern Trust by 11.4% during the 1st quarter. Parallel Advisors LLC now owns 1,773 shares of the asset manager's stock valued at $175,000 after purchasing an additional 182 shares during the last quarter. Institutional investors own 83.19% of the company's stock.

Insiders Place Their Bets

In other Northern Trust news, EVP Clive Bellows sold 3,300 shares of the stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $99.95, for a total value of $329,835.00. Following the completion of the transaction, the executive vice president now owns 28,736 shares in the company, valued at approximately $2,872,163.20. This represents a 10.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Teresa Parker sold 6,467 shares of the business's stock in a transaction on Friday, May 9th. The shares were sold at an average price of $100.62, for a total transaction of $650,709.54. Following the sale, the insider now owns 79,391 shares in the company, valued at approximately $7,988,322.42. This trade represents a 7.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,772 shares of company stock worth $981,069 over the last three months. Company insiders own 0.77% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NTRS. Morgan Stanley reaffirmed an "underweight" rating and issued a $103.00 target price (up previously from $101.00) on shares of Northern Trust in a research note on Tuesday, June 3rd. Evercore ISI cut their price objective on shares of Northern Trust from $104.00 to $100.00 and set an "in-line" rating for the company in a research note on Wednesday, April 23rd. Bank of America decreased their target price on shares of Northern Trust from $123.00 to $121.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. Truist Financial lowered their price target on shares of Northern Trust from $98.00 to $92.00 and set a "hold" rating for the company in a research note on Wednesday, April 23rd. Finally, Wells Fargo & Company reduced their price objective on Northern Trust from $118.00 to $111.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 23rd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $108.42.

Northern Trust Price Performance

Shares of Northern Trust stock opened at $122.97 on Friday. The business has a 50 day moving average of $104.51 and a 200 day moving average of $103.60. Northern Trust Corporation has a 52 week low of $80.81 and a 52 week high of $124.19. The company has a market cap of $23.92 billion, a PE ratio of 11.47, a P/E/G ratio of 1.87 and a beta of 1.22. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.57.

Northern Trust (NASDAQ:NTRS - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The asset manager reported $1.90 EPS for the quarter, topping the consensus estimate of $1.85 by $0.05. Northern Trust had a net margin of 13.93% and a return on equity of 13.73%. The business had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.95 billion. As a group, equities research analysts forecast that Northern Trust Corporation will post 8.27 earnings per share for the current year.

Northern Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 6th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date is Friday, June 6th. Northern Trust's payout ratio is currently 27.99%.

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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