EP Wealth Advisors LLC Takes $2.63 Million Position in Northern Trust Corporation $NTRS

EP Wealth Advisors LLC acquired a new position in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 15,109 shares of the asset manager's stock, valued at approximately $2,627,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. acquired a new position in Northern Trust in the 2nd quarter worth $2,523,781,000. State Street Corp lifted its holdings in shares of Northern Trust by 1.0% in the third quarter. State Street Corp now owns 9,493,634 shares of the asset manager's stock valued at $1,285,236,000 after purchasing an additional 97,584 shares in the last quarter. Invesco Ltd. boosted its position in shares of Northern Trust by 8.7% during the fourth quarter. Invesco Ltd. now owns 3,747,840 shares of the asset manager's stock worth $511,917,000 after buying an additional 301,164 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Northern Trust by 5.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,894,755 shares of the asset manager's stock worth $395,395,000 after buying an additional 161,826 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Northern Trust by 1.5% during the first quarter. Dimensional Fund Advisors LP now owns 2,455,996 shares of the asset manager's stock worth $342,744,000 after buying an additional 36,322 shares in the last quarter. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Northern Trust Stock Performance

Shares of NASDAQ NTRS opened at $183.90 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a 50 day moving average price of $181.52 and a 200 day moving average price of $163.27. The stock has a market capitalization of $33.65 billion, a PE ratio of 15.79, a price-to-earnings-growth ratio of 1.04 and a beta of 1.25. 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 posted its quarterly earnings results 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. Northern Trust had a return on equity of 16.91% and a net margin of 14.76%.The firm had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.69 billion. During the same quarter in the previous year, the firm earned $2.13 EPS. The business's quarterly revenue was up 35.1% on a year-over-year basis. Analysts predict that Northern Trust Corporation will post 11.59 earnings per share 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. Investors of record on Friday, September 4th will be paid a $0.88 dividend. This is a boost from Northern Trust's previous quarterly dividend of $0.80. This represents a $3.52 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, September 4th. Northern Trust's dividend payout ratio (DPR) is 27.47%.

Analysts Set New Price Targets

Several research firms have commented on NTRS. Wells Fargo & Company boosted their target price on Northern Trust from $189.00 to $194.00 and gave the company an "equal weight" rating in a research note on Thursday, July 23rd. Bank of America raised their price target on shares of Northern Trust from $190.00 to $200.00 and gave the stock a "buy" rating in a research note on Tuesday, July 7th. Weiss Ratings reiterated a "buy (b)" rating on shares of Northern Trust in a report on Friday, July 31st. UBS Group set a $186.00 price objective on shares of Northern Trust in a research report on Friday, June 26th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Northern Trust from $157.00 to $175.00 and gave the stock an "underperform" rating in a report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $180.68.

Insiders Place Their Bets

In other news, Director Robert Edward Jr. Moritz bought 255 shares of the stock in a transaction that occurred on Wednesday, July 29th. The shares were acquired at an average cost of $179.57 per share, for a total transaction 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 represents a 3.13% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.66% of the company's stock.

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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