LaFleur & Godfrey LLC Purchases New Position in Northern Trust Corporation (NASDAQ:NTRS)

LaFleur & Godfrey LLC purchased a new stake in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 3,641 shares of the asset manager's stock, valued at approximately $359,000.

Several other institutional investors also recently bought and sold shares of NTRS. Principal Financial Group Inc. raised its position in Northern Trust by 0.5% during the fourth quarter. Principal Financial Group Inc. now owns 235,430 shares of the asset manager's stock valued at $24,132,000 after acquiring an additional 1,187 shares in the last quarter. Truist Financial Corp raised its position in Northern Trust by 6.4% during the fourth quarter. Truist Financial Corp now owns 12,313 shares of the asset manager's stock valued at $1,262,000 after acquiring an additional 744 shares in the last quarter. Fisher Funds Management LTD purchased a new position in Northern Trust during the fourth quarter valued at approximately $3,887,000. Y Intercept Hong Kong Ltd increased its position in shares of Northern Trust by 84.5% in the fourth quarter. Y Intercept Hong Kong Ltd now owns 21,936 shares of the asset manager's stock valued at $2,248,000 after buying an additional 10,045 shares in the last quarter. Finally, IFP Advisors Inc increased its position in shares of Northern Trust by 28.0% in the fourth quarter. IFP Advisors Inc now owns 1,526 shares of the asset manager's stock valued at $156,000 after buying an additional 334 shares in the last quarter. 83.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

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

Analyst Upgrades and Downgrades

A number of research firms have recently commented on NTRS. Truist Financial cut their price objective on Northern Trust from $98.00 to $92.00 and set a "hold" rating for the company in a research report on Wednesday, April 23rd. Wells Fargo & Company cut their price objective on Northern Trust from $118.00 to $111.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 23rd. Royal Bank Of Canada cut their price objective on Northern Trust from $115.00 to $105.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. Citigroup cut their price objective on Northern Trust from $110.00 to $105.00 and set a "neutral" rating for the company in a research report on Monday, March 24th. Finally, Morgan Stanley restated an "underweight" rating and issued a $103.00 price objective (up from $101.00) on shares of Northern Trust in a research report on Tuesday, June 3rd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $108.42.

Northern Trust Stock Up 8.0%

Shares of NASDAQ:NTRS opened at $120.81 on Tuesday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.57. The business has a fifty day moving average of $102.51 and a two-hundred day moving average of $103.26. The stock has a market cap of $23.50 billion, a P/E ratio of 11.27, a PEG ratio of 1.69 and a beta of 1.22. Northern Trust Corporation has a 52-week low of $80.81 and a 52-week high of $123.31.

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

Northern Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 6th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date of this dividend is Friday, June 6th. Northern Trust's dividend payout ratio (DPR) is 27.99%.

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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