First Citizens Bank & Trust Co. Makes New Investment in Northern Trust Corporation $NTRS

First Citizens Bank & Trust Co. purchased a new stake in Northern Trust Corporation (NASDAQ:NTRS - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 5,243 shares of the asset manager's stock, valued at approximately $665,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NTRS. FNY Investment Advisers LLC purchased a new stake in Northern Trust in the 2nd quarter valued at about $25,000. Zions Bancorporation National Association UT purchased a new stake in shares of Northern Trust in the 1st quarter valued at approximately $29,000. Wayfinding Financial LLC purchased a new stake in shares of Northern Trust in the 1st quarter valued at approximately $35,000. GFG Capital LLC purchased a new position in shares of Northern Trust during the 2nd quarter worth approximately $35,000. Finally, Harbor Investment Advisory LLC increased its holdings in Northern Trust by 68.4% in the 2nd quarter. Harbor Investment Advisory LLC now owns 320 shares of the asset manager's stock valued at $41,000 after purchasing an additional 130 shares during the last quarter. 83.19% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Northern Trust

In other news, Director Robert Edward Jr. Moritz acquired 256 shares of Northern Trust stock in a transaction dated Wednesday, August 13th. The shares were acquired at an average cost of $126.34 per share, for a total transaction of $32,343.04. Following the acquisition, the director owned 2,525 shares of the company's stock, valued at $319,008.50. This trade represents a 11.28% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.77% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Truist Financial decreased their price target on Northern Trust from $142.00 to $139.00 and set a "hold" rating on the stock in a research note on Thursday. Wells Fargo & Company increased their target price on Northern Trust from $127.00 to $131.00 and gave the stock an "equal weight" rating in a research note on Thursday. Citigroup lifted their target price on Northern Trust from $110.00 to $135.00 and gave the company a "neutral" rating in a research report on Friday, September 5th. Zacks Research cut shares of Northern Trust from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 9th. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of Northern Trust in a report on Saturday. Five analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $130.71.

Northern Trust Stock Up 1.0%

Shares of NASDAQ:NTRS opened at $126.03 on Friday. Northern Trust Corporation has a fifty-two week low of $81.62 and a fifty-two week high of $135.48. The firm's 50 day moving average price is $129.59 and its 200 day moving average price is $118.12. The company has a quick ratio of 0.72, a current ratio of 0.70 and a debt-to-equity ratio of 0.58. The stock has a market cap of $24.10 billion, a price-to-earnings ratio of 14.69, a price-to-earnings-growth ratio of 1.41 and a beta of 1.31.

Northern Trust (NASDAQ:NTRS - Get Free Report) last announced its quarterly earnings data on Wednesday, October 22nd. The asset manager reported $2.29 EPS for the quarter, beating analysts' consensus estimates of $2.26 by $0.03. Northern Trust had a net margin of 11.99% and a return on equity of 14.37%. The company had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.02 billion. During the same period in the prior year, the firm posted $2.22 EPS. The company's quarterly revenue was up 2.8% compared to the same quarter last year. As a group, equities research analysts predict that Northern Trust Corporation will post 8.27 earnings per share for the current fiscal year.

Northern Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 1st. Stockholders of record on Friday, December 5th will be issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Friday, December 5th. Northern Trust's dividend payout ratio (DPR) is presently 37.30%.

Northern Trust Profile

Northern Trust Corporation, a financial holding company, provides wealth management, asset servicing, asset management, and banking solutions for corporations, institutions, families, and individuals worldwide. It operates in two segments, Asset Servicing and Wealth Management. The Asset Servicing segment offers asset servicing and related services, including custody, fund administration, investment operations outsourcing, investment management, investment risk and analytical services, employee benefit services, securities lending, foreign exchange, treasury management, brokerage services, transition management services, banking, and cash management services.

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