Compass Wealth Management LLC Purchases New Shares in Northern Trust Corporation $NTRS

Key Points

• Compass Wealth Management purchased 5,829 Northern Trust shares worth approximately $1.013 million in the second quarter, while other institutions also established new positions. Institutional investors own 83.19% of the company.
• Northern Trust reported quarterly earnings of $4.23 per share, exceeding estimates of $2.71, as revenue rose 35.1% year over year to $2.71 billion.
• The company raised its quarterly dividend from $0.80 to $0.88, implying an annualized dividend of $3.52 and a 1.8% yield. Analysts maintain an overall “Hold” rating with an average price target of $180.68.

Compass Wealth Management LLC acquired a new stake in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 5,829 shares of the asset manager's stock, valued at approximately $1,013,000.

Other hedge funds have also recently bought and sold shares of the company. Danica Pension Livsforsikringsaktieselskab bought a new stake in shares of Northern Trust in the 2nd quarter worth $9,981,000. Danske Bank A S bought a new position in shares of Northern Trust during the second quarter valued at about $22,239,000. Gables Capital Management Inc. bought a new position in shares of Northern Trust during the second quarter valued at about $278,000. Wealthfront Advisers LLC purchased a new position in Northern Trust during the second quarter worth about $3,431,000. Finally, First National Bank of Omaha bought a new stake in Northern Trust in the 2nd quarter worth about $4,799,000. 83.19% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Robert Edward Jr. Moritz acquired 255 shares of Northern Trust stock in a transaction on Wednesday, July 29th. The stock was acquired at an average cost of $179.57 per share, with a total value of $45,790.35. Following the completion of the acquisition, the director owned 8,400 shares in the company, valued at approximately $1,508,388. This trade represents a 3.13% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.66% of the company's stock.

Northern Trust Stock Performance

Shares of NTRS stock opened at $190.58 on Wednesday. The firm has a market cap of $34.87 billion, a price-to-earnings ratio of 16.36, a P/E/G ratio of 1.08 and a beta of 1.25. 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. The firm's 50-day simple moving average is $180.70 and its two-hundred day simple moving average is $162.65.

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

Northern Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 4th will be paid a $0.88 dividend. The ex-dividend date is Friday, September 4th. This is a positive change from Northern Trust's previous quarterly dividend of $0.80. This represents a $3.52 annualized dividend and a yield of 1.8%. Northern Trust's dividend payout ratio (DPR) is currently 27.47%.

Analysts Set New Price Targets

Several equities research analysts have commented on NTRS shares. Keefe, Bruyette & Woods increased their price objective on shares of Northern Trust from $157.00 to $175.00 and gave the company an "underperform" rating in a research note on Thursday, July 9th. Zacks Research upgraded Northern Trust from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 12th. Truist Financial upped their target price on Northern Trust from $176.00 to $186.00 and gave the company a "hold" rating in a report on Friday, June 26th. Citigroup increased their price target on Northern Trust from $162.00 to $172.00 and gave the company a "neutral" rating in a research report on Tuesday, June 30th. Finally, Morgan Stanley boosted their price objective on Northern Trust from $170.00 to $173.00 and gave the stock an "underweight" rating in a research report on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Northern Trust currently has an average rating of "Hold" and an average price target of $180.68.

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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