2,300 Shares in Northern Trust Corporation (NASDAQ:NTRS) Acquired by Fulton Breakefield Broenniman LLC

Fulton Breakefield Broenniman LLC bought a new position in Northern Trust Corporation (NASDAQ:NTRS - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 2,300 shares of the asset manager's stock, valued at approximately $227,000.

Other hedge funds have also modified their holdings of the company. Steward Partners Investment Advisory LLC grew its position in Northern Trust by 29.8% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 597 shares of the asset manager's stock worth $61,000 after purchasing an additional 137 shares in the last quarter. Assetmark Inc. grew its holdings in shares of Northern Trust by 528.3% during the fourth quarter. Assetmark Inc. now owns 377 shares of the asset manager's stock valued at $39,000 after buying an additional 317 shares in the last quarter. Atria Investments Inc raised its position in Northern Trust by 9.5% during the fourth quarter. Atria Investments Inc now owns 3,385 shares of the asset manager's stock valued at $347,000 after buying an additional 293 shares during the period. Proficio Capital Partners LLC purchased a new stake in Northern Trust in the 4th quarter worth about $51,000. Finally, Raymond James Financial Inc. acquired a new stake in Northern Trust during the 4th quarter worth about $7,456,000. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Northern Trust Price Performance

Shares of NTRS traded up $0.66 during trading hours on Monday, hitting $126.57. The stock had a trading volume of 1,279,078 shares, compared to its average volume of 1,640,582. The stock has a market capitalization of $24.62 billion, a price-to-earnings ratio of 11.81, a P/E/G ratio of 1.82 and a beta of 1.26. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.71 and a quick ratio of 0.71. The company's fifty day moving average is $112.44 and its two-hundred day moving average is $105.45. Northern Trust Corporation has a 52 week low of $80.81 and a 52 week high of $133.00.

Northern Trust (NASDAQ:NTRS - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The asset manager reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.05. Northern Trust had a net margin of 13.93% and a return on equity of 13.73%. The firm had revenue of $1.95 billion for the quarter, compared to analysts' expectations of $1.95 billion. On average, analysts anticipate that Northern Trust Corporation will post 8.27 EPS for the current year.

Northern Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 6th were issued a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, June 6th. This represents a $3.00 dividend on an annualized basis and a yield of 2.37%. Northern Trust's dividend payout ratio is 27.99%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on NTRS shares. Truist Financial increased their price target on shares of Northern Trust from $116.00 to $126.00 and gave the stock a "hold" rating in a research report on Thursday, July 3rd. Citigroup cut their target price on shares of Northern Trust from $110.00 to $105.00 and set a "neutral" rating for the company in a research report on Monday, March 24th. Keefe, Bruyette & Woods lowered shares of Northern Trust from a "market perform" rating to an "underperform" rating and lifted their target price for the company from $103.00 to $120.00 in a research note on Friday. Evercore ISI upped their price target on shares of Northern Trust from $108.00 to $121.00 and gave the stock an "in-line" rating in a research note on Wednesday, July 2nd. Finally, Bank of America reduced their price objective on Northern Trust from $123.00 to $121.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, Northern Trust currently has an average rating of "Hold" and an average target price of $114.50.

Insider Buying and Selling at Northern Trust

In other news, insider Teresa Parker sold 6,467 shares of Northern Trust stock in a transaction on Friday, May 9th. The stock was sold at an average price of $100.62, for a total value of $650,709.54. Following the completion of the sale, the insider directly owned 79,391 shares of the company's stock, valued at approximately $7,988,322.42. This trade represents a 7.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Clive Bellows sold 3,300 shares of the company's stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $99.95, for a total value of $329,835.00. Following the transaction, the executive vice president directly owned 28,736 shares in the company, valued at $2,872,163.20. This trade represents a 10.30% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,772 shares of company stock valued at $981,069. Corporate insiders own 0.77% of the company's stock.

About Northern Trust

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.