Beacon Pointe Advisors LLC Invests $1.88 Million in Northern Trust Corporation $NTRS

Key Points

• Beacon Pointe Advisors purchased 10,843 Northern Trust shares worth approximately $1.88 million in the second quarter. Institutional investors collectively own 83.19% of the company.
• Analysts maintain a “Hold” consensus on NTRS, with four Buy, nine Hold, and two Sell ratings and an average price target of $180.68.
• Northern Trust exceeded quarterly earnings expectations, reporting $4.23 in EPS and $2.71 billion in revenue, while increasing its quarterly dividend from $0.80 to $0.88 per share.

Beacon Pointe Advisors LLC purchased a new position in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 10,843 shares of the asset manager's stock, valued at approximately $1,884,000.

Other institutional investors have also added to or reduced their stakes in the company. Reflection Asset Management acquired a new position in shares of Northern Trust during the 4th quarter worth approximately $25,000. Triumph Capital Management acquired a new stake in shares of Northern Trust in the third quarter valued at approximately $25,000. Basecamp Wealth Advisors LLC raised its position in shares of Northern Trust by 99.0% in the first quarter. Basecamp Wealth Advisors LLC now owns 203 shares of the asset manager's stock valued at $28,000 after buying an additional 101 shares in the last quarter. Keating Financial Advisory Services Inc. bought a new stake in shares of Northern Trust in the second quarter valued at approximately $31,000. Finally, Elyxium Wealth LLC bought a new stake in shares of Northern Trust in the fourth quarter valued at approximately $34,000. 83.19% of the stock is currently owned by institutional investors.

Insider Transactions at Northern Trust

In related news, EVP Thomas A. South sold 1,800 shares of the company's stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $184.90, for a total value of $332,820.00. Following the sale, the executive vice president directly owned 92,917 shares in the company, valued at $17,180,353.30. This represents a 1.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Robert Edward Jr. Moritz bought 255 shares of the firm's stock in a transaction on Wednesday, July 29th. The shares were purchased at an average cost of $179.57 per share, with a total value of $45,790.35. Following the transaction, the director directly owned 8,400 shares in the company, valued at approximately $1,508,388. This trade represents a 3.13% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 0.66% of the company's stock.

Analyst Ratings Changes

Several equities analysts have weighed in on NTRS shares. Royal Bank Of Canada cut Northern Trust from an "outperform" rating to a "sector perform" rating and set a $178.00 price objective for the company. in a report on Wednesday, July 22nd. Keefe, Bruyette & Woods increased their target price on Northern Trust from $157.00 to $175.00 and gave the stock an "underperform" rating in a report on Thursday, July 9th. Barclays raised their price target on Northern Trust from $176.00 to $189.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 23rd. Zacks Research downgraded Northern Trust from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 25th. Finally, Citigroup upped their price objective on shares of Northern Trust from $162.00 to $172.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 30th. Four analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Northern Trust currently has a consensus rating of "Hold" and a consensus price target of $180.68.

Northern Trust Price Performance

NTRS stock opened at $186.79 on Monday. The company has a market capitalization of $34.18 billion, a P/E ratio of 16.03, a PEG ratio of 1.05 and a beta of 1.25. The company has a fifty day moving average price of $182.86 and a 200-day moving average price of $164.62. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.65 and a current ratio of 0.65. Northern Trust Corporation has a 52-week low of $121.12 and a 52-week high of $195.78.

Northern Trust (NASDAQ:NTRS - Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The asset manager reported $4.23 earnings per share for the quarter, topping the consensus estimate of $2.71 by $1.52. The company had revenue of $2.71 billion for the quarter, compared to analysts' expectations of $2.69 billion. Northern Trust had a net margin of 14.76% and a return on equity of 16.91%. Northern Trust's revenue for the quarter was up 35.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.13 earnings per share. As a group, equities analysts expect that Northern Trust Corporation will post 11.59 EPS for the current year.

Northern Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 4th will be given a $0.88 dividend. This is a boost from Northern Trust's previous quarterly dividend of $0.80. The ex-dividend date is Friday, September 4th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.9%. Northern Trust's dividend payout ratio is presently 27.47%.

Northern Trust Company Profile

Northern Trust Corporation NASDAQ: NTRS is a global financial services firm headquartered in Chicago that provides asset servicing, asset management and wealth management solutions to institutions, corporations and high-net-worth individuals. The company's core businesses include custody and fund administration, investment operations outsourcing, trust and fiduciary services, private banking, and retirement and defined contribution plan services.

Northern Trust's product and service offerings span custody and fund accounting, portfolio and performance analytics, securities lending, cash management and foreign exchange, as well as discretionary and non-discretionary investment management.

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