Burney Co. Invests $1.27 Million in Northern Trust Corporation $NTRS

Key Points

• Burney Co. opened a new position in Northern Trust during the first quarter, buying 9,119 shares valued at about $1.27 million.
• Northern Trust reported better-than-expected quarterly results, with EPS of $2.71 versus estimates of $2.37 and revenue of $2.21 billion, up 13.8% from a year earlier.
• The company also paid a quarterly dividend of $0.80 per share, equal to an annualized yield of about 1.8%, while analysts currently have a Hold consensus and average target price of $175.18.

Burney Co. bought a new position in Northern Trust Corporation (NASDAQ:NTRS - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm bought 9,119 shares of the asset manager's stock, valued at approximately $1,273,000.

Several other hedge funds have also bought and sold shares of the business. Triumph Capital Management bought a new stake in Northern Trust during the 3rd quarter valued at $25,000. Reflection Asset Management bought a new position in shares of Northern Trust in the fourth quarter valued at $25,000. Board of the Pension Protection Fund acquired a new position in shares of Northern Trust during the fourth quarter valued at about $27,000. Elyxium Wealth LLC acquired a new position in shares of Northern Trust during the fourth quarter valued at about $34,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of Northern Trust in the 4th quarter worth about $35,000. Institutional investors and hedge funds own 83.19% of the company's stock.

Insider Buying and Selling at Northern Trust

In related news, Director Robert Edward Jr. Moritz purchased 225 shares of the business's stock in a transaction that occurred on Friday, May 1st. The shares were bought at an average price of $166.41 per share, for a total transaction of $37,442.25. Following the purchase, the director directly owned 8,145 shares of the company's stock, valued at approximately $1,355,409.45. This represents a 2.84% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO David W. Fox, Jr. sold 19,987 shares of the firm's stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $166.16, for a total value of $3,321,039.92. Following the transaction, the chief financial officer directly owned 18,588 shares of the company's stock, valued at approximately $3,088,582.08. This trade represents a 51.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 22,800 shares of company stock valued at $3,785,251. Corporate insiders own 0.66% of the company's stock.

Northern Trust Price Performance

Shares of NASDAQ NTRS opened at $179.92 on Thursday. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.62 and a quick ratio of 0.62. Northern Trust Corporation has a 1 year low of $118.99 and a 1 year high of $182.26. The stock has a market capitalization of $33.29 billion, a P/E ratio of 18.84, a P/E/G ratio of 1.23 and a beta of 1.25. The company's 50-day moving average is $169.83 and its 200 day moving average is $154.24.

Northern Trust (NASDAQ:NTRS - Get Free Report) last posted its quarterly earnings data on Tuesday, April 21st. The asset manager reported $2.71 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.37 by $0.34. The business had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.13 billion. Northern Trust had a return on equity of 15.94% and a net margin of 12.84%.The firm's quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.90 earnings per share. On average, sell-side analysts expect that Northern Trust Corporation will post 11.29 earnings per share for the current year.

Northern Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Friday, June 5th were issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Friday, June 5th. Northern Trust's dividend payout ratio is 33.51%.

Analysts Set New Price Targets

NTRS has been the topic of several recent research reports. Evercore set a $179.00 price target on shares of Northern Trust in a research report on Monday. BMO Capital Markets upgraded shares of Northern Trust from a "market perform" rating to an "outperform" rating and set a $168.00 price objective for the company in a research note on Monday, April 6th. Truist Financial increased their price objective on Northern Trust from $176.00 to $186.00 and gave the company a "hold" rating in a report on Friday, June 26th. Barclays upped their price target on shares of Northern Trust from $160.00 to $176.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 22nd. Finally, Morgan Stanley lifted their price target on Northern Trust from $157.00 to $170.00 and gave the stock an "underweight" rating in a research note on Monday, June 29th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $175.18.

Northern Trust 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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