Northern Trust Corporation $NTRS Shares Acquired by Ritholtz Wealth Management

Key Points

• Ritholtz Wealth Management significantly increased its holdings in Northern Trust Corporation by 131.2% during the second quarter, owning a total of 29,887 shares valued at approximately $3.79 million.
• Several hedge funds, including Continuum Advisory LLC, have also acquired stakes in Northern Trust, bringing hedge funds and institutional investors to own around 83.19% of the company.
• Northern Trust recently declared a quarterly dividend of $0.80 per share, an increase from their prior dividend of $0.75, resulting in an annual yield of 2.5%.

Ritholtz Wealth Management grew its holdings in Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 131.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,887 shares of the asset manager's stock after purchasing an additional 16,960 shares during the quarter. Ritholtz Wealth Management's holdings in Northern Trust were worth $3,789,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Continuum Advisory LLC grew its stake in Northern Trust by 5,340.0% in the 1st quarter. Continuum Advisory LLC now owns 272 shares of the asset manager's stock worth $27,000 after acquiring an additional 267 shares during the period. Zions Bancorporation National Association UT purchased a new stake in Northern Trust in the 1st quarter worth approximately $29,000. Wayfinding Financial LLC purchased a new stake in Northern Trust in the 1st quarter worth approximately $35,000. GFG Capital LLC purchased a new stake in Northern Trust in the 2nd quarter worth approximately $35,000. Finally, Harbor Investment Advisory LLC grew its stake in Northern Trust by 68.4% in the 2nd quarter. Harbor Investment Advisory LLC now owns 320 shares of the asset manager's stock worth $41,000 after acquiring an additional 130 shares during the period. 83.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on NTRS. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Northern Trust in a research note on Wednesday, October 8th. The Goldman Sachs Group set a $135.00 target price on shares of Northern Trust in a research note on Tuesday, September 30th. Wall Street Zen raised shares of Northern Trust from a "sell" rating to a "hold" rating in a research note on Friday, September 26th. Barclays lifted their target price on shares of Northern Trust from $128.00 to $136.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 24th. Finally, Truist Financial lifted their price target on shares of Northern Trust from $132.00 to $142.00 and gave the company a "hold" rating in a report on Thursday, October 2nd. Four analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, Northern Trust presently has an average rating of "Hold" and a consensus target price of $128.23.

Northern Trust Stock Performance

Shares of NTRS stock opened at $129.88 on Thursday. The company's fifty day simple moving average is $129.60 and its 200-day simple moving average is $116.22. Northern Trust Corporation has a 52 week low of $81.62 and a 52 week high of $135.48. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.58. The company has a market cap of $24.84 billion, a PE ratio of 15.26, a P/E/G ratio of 1.44 and a beta of 1.31.

Northern Trust (NASDAQ:NTRS - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The asset manager reported $2.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.05. Northern Trust had a net margin of 11.75% and a return on equity of 14.06%. The firm had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter in the previous year, the firm posted $4.34 EPS. The firm's quarterly revenue was down 26.4% on a year-over-year basis. As a group, equities research analysts anticipate that Northern Trust Corporation will post 8.27 EPS for the current year.

Northern Trust Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Friday, September 5th were paid a dividend of $0.80 per share. This is a positive change from Northern Trust's previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Friday, September 5th. This represents a $3.20 annualized dividend and a yield of 2.5%. Northern Trust's payout ratio is presently 37.60%.

Insider Transactions at Northern Trust

In other news, Director Robert Edward Jr. Moritz purchased 256 shares of the company's stock in a transaction that occurred on Wednesday, August 13th. The shares were purchased at an average price of $126.34 per share, with a total value of $32,343.04. Following the purchase, the director directly owned 2,525 shares of the company's stock, valued at approximately $319,008.50. This represents a 11.28% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.77% of the stock is owned by company insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.