CFO4Life Group LLC Takes Position in Northern Trust Corporation $NTRS

CFO4Life Group LLC bought a new stake in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 5,803 shares of the asset manager's stock, valued at approximately $1,009,000.

A number of other large investors have also bought and sold shares of the stock. Reflection Asset Management acquired a new position in shares of Northern Trust during the fourth quarter valued at about $25,000. Triumph Capital Management bought a new position in shares of Northern Trust during the 3rd quarter worth about $25,000. Basecamp Wealth Advisors LLC grew its stake in shares of Northern Trust by 99.0% in the 1st 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 during the period. Keating Financial Advisory Services Inc. bought a new stake in Northern Trust in the 2nd quarter valued at about $31,000. Finally, Elyxium Wealth LLC bought a new stake in Northern Trust in the 4th quarter valued at about $34,000. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Northern Trust Stock Up 0.8%

NTRS stock opened at $183.90 on Friday. The firm has a market capitalization of $33.65 billion, a PE ratio of 15.79, a P/E/G ratio of 1.04 and a beta of 1.25. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.43. Northern Trust Corporation has a twelve month low of $121.12 and a twelve month high of $195.78. The stock's 50 day moving average is $181.52 and its 200-day moving average is $163.27.

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

Northern Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 4th will be paid a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Friday, September 4th. This is a positive change from Northern Trust's previous quarterly dividend of $0.80. Northern Trust's dividend payout ratio (DPR) is currently 27.47%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on NTRS. Zacks Research upgraded Northern Trust from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 12th. Keefe, Bruyette & Woods upped their target price on Northern Trust from $157.00 to $175.00 and gave the stock an "underperform" rating in a research report on Thursday, July 9th. JPMorgan Chase & Co. increased their target price on Northern Trust from $179.50 to $185.50 and gave the stock a "neutral" rating in a report on Tuesday, August 4th. Evercore set a $179.00 price target on shares of Northern Trust in a research note on Monday, July 6th. Finally, Bank of America upped their price objective on shares of Northern Trust from $190.00 to $200.00 and gave the stock a "buy" rating in a report on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Northern Trust currently has an average rating of "Hold" and a consensus target price of $180.68.

Insider Activity

In other news, Director Robert Edward Jr. Moritz bought 255 shares of the stock in a transaction dated Wednesday, July 29th. The stock was bought at an average price of $179.57 per share, for a total transaction of $45,790.35. Following the completion of the acquisition, 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 purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.66% of the stock is currently owned by insiders.

About Northern Trust

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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