Focus Partners Advisor Solutions LLC Invests $1.29 Million in Northern Trust Corporation $NTRS

Key Points

• Focus Partners Advisor Solutions bought 7,422 Northern Trust shares worth approximately $1.29 million during the second quarter. Institutional investors and hedge funds own 83.19% of the company’s stock.
• Analysts remain broadly neutral, with a consensus “Hold” rating and an average price target of $180.68, despite several firms raising their targets.
• Northern Trust raised its quarterly dividend from $0.80 to $0.88 per share, representing an annualized dividend of $3.52 and a 1.8% yield.

Focus Partners Advisor Solutions LLC bought a new position 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 & Exchange Commission. The firm bought 7,422 shares of the asset manager's stock, valued at approximately $1,290,000.

Several other hedge funds have also added to or reduced their stakes in NTRS. CWM LLC grew its stake in shares of Northern Trust by 122.6% in the fourth quarter. CWM LLC now owns 48,284 shares of the asset manager's stock valued at $6,595,000 after acquiring an additional 26,594 shares in the last quarter. Concurrent Investment Advisors LLC acquired a new stake in Northern Trust during the fourth quarter worth approximately $1,959,000. Northwestern Mutual Wealth Management Co. grew its position in Northern Trust by 1,838.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 180,034 shares of the asset manager's stock worth $22,793,000 after buying an additional 170,745 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Northern Trust by 5.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,894,755 shares of the asset manager's stock worth $395,395,000 after acquiring an additional 161,826 shares during the period. Finally, PFA Pension Forsikringsaktieselskab acquired a new position in Northern Trust in the 4th quarter valued at $67,126,000. 83.19% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Truist Financial upped their target price on Northern Trust from $176.00 to $186.00 and gave the company a "hold" rating in a research report on Friday, June 26th. Citigroup raised their price target on Northern Trust from $162.00 to $172.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 30th. Bank of America boosted their price target on Northern Trust from $190.00 to $200.00 and gave the company a "buy" rating in a research note on Tuesday, July 7th. Barclays increased their price objective on shares of Northern Trust from $176.00 to $189.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 23rd. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Northern Trust in a report on Friday, July 31st. 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 assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $180.68.

Northern Trust Price Performance

NASDAQ NTRS opened at $191.41 on Monday. The business has a fifty day moving average price of $179.86 and a two-hundred day moving average price of $162.07. The stock has a market capitalization of $35.02 billion, a PE ratio of 16.43, a PEG ratio of 1.08 and a beta of 1.25. Northern Trust Corporation has a fifty-two week low of $121.12 and a fifty-two week high of $195.78. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.65 and a quick ratio of 0.65.

Northern Trust Increases Dividend

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

Insider Buying and Selling at Northern Trust

In other Northern Trust news, Director Robert Edward Jr. Moritz acquired 255 shares of Northern Trust stock in a transaction that occurred on Wednesday, July 29th. The shares were acquired at an average cost of $179.57 per share, with a total value of $45,790.35. Following the completion of the purchase, the director directly owned 8,400 shares of the company's stock, valued at $1,508,388. This represents a 3.13% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.66% of the stock is currently owned by corporate insiders.

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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