Northern Trust Corporation $NTRS Shares Purchased by Empowered Funds LLC

Key Points

• Empowered Funds LLC increased its Northern Trust stake by 415.1% in the first quarter, holding 30,493 shares valued at approximately $4.26 million. Institutional investors collectively own 83.19% of NTRS.
• Northern Trust raised its quarterly dividend from $0.80 to $0.88 per share, equivalent to an annualized dividend of $3.52 and a 1.9% yield.
• NTRS shares opened at $182.19, near the analyst consensus price target of $180.25. Analyst sentiment remains mixed, with an overall “Hold” rating, while a company director separately purchased 255 shares.

Empowered Funds LLC grew its position in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 415.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,493 shares of the asset manager's stock after purchasing an additional 24,573 shares during the period. Empowered Funds LLC's holdings in Northern Trust were worth $4,256,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of NTRS. Woodline Partners LP grew its stake in Northern Trust by 39.1% in the 1st quarter. Woodline Partners LP now owns 16,557 shares of the asset manager's stock worth $1,633,000 after acquiring an additional 4,653 shares during the period. EverSource Wealth Advisors LLC raised its holdings 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 valued at $171,000 after acquiring an additional 596 shares during the last quarter. WINTON GROUP Ltd purchased a new position in shares of Northern Trust during the 2nd quarter worth $267,000. Daiwa Securities Group Inc. boosted its holdings in shares of Northern Trust by 4.6% during the second quarter. Daiwa Securities Group Inc. now owns 29,290 shares of the asset manager's stock worth $3,714,000 after purchasing an additional 1,275 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its holdings in shares of Northern Trust by 12.1% during the second quarter. NewEdge Advisors LLC now owns 5,453 shares of the asset manager's stock worth $691,000 after purchasing an additional 589 shares during the last quarter. 83.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Robert Edward Jr. Moritz acquired 255 shares of the company's stock in a transaction dated Wednesday, July 29th. The shares were bought at an average price of $179.57 per share, for a total transaction of $45,790.35. Following the completion of the purchase, the director directly owned 8,400 shares of the company's stock, valued at approximately $1,508,388. This trade represents a 3.13% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.66% of the stock is owned by corporate insiders.

Northern Trust Stock Performance

Shares of NTRS stock opened at $182.19 on Monday. The company's fifty day simple moving average is $176.30 and its 200-day simple moving average is $159.26. Northern Trust Corporation has a 52 week low of $121.12 and a 52 week high of $191.60. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.43. The company has a market cap of $33.33 billion, a PE ratio of 15.64, a P/E/G ratio of 1.03 and a beta of 1.25.

Northern Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 4th will be paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.9%. This is an increase from Northern Trust's previous quarterly dividend of $0.80. The ex-dividend date is Friday, September 4th. Northern Trust's payout ratio is 27.47%.

Analyst Ratings Changes

NTRS has been the topic of several recent analyst reports. Royal Bank Of Canada downgraded Northern Trust from an "outperform" rating to a "sector perform" rating and set a $178.00 target price on the stock. in a research report on Wednesday, July 22nd. Truist Financial upped their price objective on shares of Northern Trust from $176.00 to $186.00 and gave the company a "hold" rating in a research note on Friday, June 26th. BMO Capital Markets upgraded shares of Northern Trust from a "market perform" rating to an "outperform" rating and set a $168.00 price objective on the stock in a report on Monday, April 6th. Morgan Stanley raised their target price on shares of Northern Trust from $170.00 to $173.00 and gave the stock an "underweight" rating in a research report on Thursday, July 23rd. Finally, Zacks Research upgraded shares of Northern Trust from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Northern Trust has an average rating of "Hold" and an average price target of $180.25.

Northern Trust 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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