Inceptionr LLC Has $322,000 Stock Holdings in Northern Trust Corporation $NTRS

Key Points

• Inceptionr LLC cut its Northern Trust stake by 79% in the first quarter, selling 8,677 shares and retaining 2,310 shares valued at approximately $322,000. Institutional investors collectively own 83.19% of the company.
• Northern Trust raised its quarterly dividend to $0.88 per share, or $3.52 annually, implying a 1.9% yield and a 27.47% payout ratio.
• NTRS shares opened at $182.52, near their 52-week high of $191.60. Analysts maintain a consensus “Hold” rating with an average price target of $180.25.

Inceptionr LLC decreased its stake in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 79.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,310 shares of the asset manager's stock after selling 8,677 shares during the period. Inceptionr LLC's holdings in Northern Trust were worth $322,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Empowered Funds LLC lifted its position in shares of Northern Trust by 13.3% during the first quarter. Empowered Funds LLC now owns 20,112 shares of the asset manager's stock worth $1,984,000 after purchasing an additional 2,363 shares in the last quarter. Woodline Partners LP increased its holdings in shares of Northern Trust by 39.1% in the first quarter. Woodline Partners LP now owns 16,557 shares of the asset manager's stock valued at $1,633,000 after purchasing an additional 4,653 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in Northern Trust by 79.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,350 shares of the asset manager's stock worth $171,000 after purchasing an additional 596 shares during the last quarter. WINTON GROUP Ltd bought a new position in Northern Trust in the 2nd quarter worth approximately $267,000. Finally, Daiwa Securities Group Inc. lifted its holdings in Northern Trust by 4.6% during the 2nd quarter. Daiwa Securities Group Inc. now owns 29,290 shares of the asset manager's stock worth $3,714,000 after buying an additional 1,275 shares in the last quarter. Institutional investors own 83.19% of the company's stock.

Northern Trust Price Performance

NTRS opened at $182.52 on Tuesday. The company has a fifty day moving average price of $175.15 and a two-hundred day moving average price of $158.24. The firm has a market capitalization of $33.78 billion, a PE ratio of 15.67, a P/E/G ratio of 1.14 and a beta of 1.25. Northern Trust Corporation has a 52 week low of $121.12 and a 52 week high of $191.60. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.62 and a current ratio of 0.65.

Northern Trust Increases Dividend

The business 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 dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.9%. This is a boost from Northern Trust's previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Friday, September 4th. Northern Trust's payout ratio is presently 27.47%.

Analyst Ratings Changes

Several research firms have recently commented on NTRS. The Goldman Sachs Group lifted their target price on Northern Trust from $151.00 to $169.00 and gave the company a "neutral" rating in a research note on Wednesday, April 22nd. Morgan Stanley upped their price target on Northern Trust from $170.00 to $173.00 and gave the company an "underweight" rating in a research note on Thursday. Zacks Research upgraded Northern Trust from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 12th. UBS Group set a $186.00 price objective on Northern Trust in a research report on Friday, June 26th. Finally, Citigroup boosted their price objective on Northern Trust from $162.00 to $172.00 and gave the stock a "neutral" rating in a report on Tuesday, June 30th. One investment 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. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $180.25.

Insider Buying and Selling

In related news, Director Robert Edward Jr. Moritz acquired 225 shares of the company's stock in a transaction that occurred on Friday, May 1st. The stock was acquired at an average price of $166.41 per share, for a total transaction of $37,442.25. Following the completion of the acquisition, the director owned 8,145 shares of the company's stock, valued at $1,355,409.45. This trade represents a 2.84% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate 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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