QRG Capital Management Inc. Raises Stock Holdings in Northern Trust Corporation $NTRS

QRG Capital Management Inc. increased its position in Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 100.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,155 shares of the asset manager's stock after buying an additional 4,584 shares during the quarter. QRG Capital Management Inc.'s holdings in Northern Trust were worth $1,161,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Continuum Advisory LLC raised its holdings in shares of Northern Trust by 5,340.0% during the first quarter. Continuum Advisory LLC now owns 272 shares of the asset manager's stock valued at $27,000 after acquiring an additional 267 shares in the last quarter. Zions Bancorporation National Association UT bought a new stake in shares of Northern Trust during the 1st quarter valued at about $29,000. Wayfinding Financial LLC purchased a new position in shares of Northern Trust during the 1st quarter valued at about $35,000. Harbor Investment Advisory LLC grew its stake in shares of Northern Trust by 68.4% during the 2nd quarter. Harbor Investment Advisory LLC now owns 320 shares of the asset manager's stock valued at $41,000 after acquiring an additional 130 shares during the period. Finally, Caitong International Asset Management Co. Ltd purchased a new position in Northern Trust in the 1st quarter worth approximately $43,000. Institutional investors own 83.19% of the company's stock.

Insider Transactions at Northern Trust

In other Northern Trust news, Director Robert Edward Jr. Moritz bought 256 shares of the business's stock in a transaction on Wednesday, August 13th. The stock was bought at an average price of $126.34 per share, with a total value of $32,343.04. Following the completion of the purchase, the director directly owned 2,525 shares in the company, valued at $319,008.50. The trade was a 11.28% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.77% of the stock is currently owned by company insiders.

Northern Trust Stock Performance

NASDAQ NTRS opened at $130.75 on Thursday. Northern Trust Corporation has a 1-year low of $81.62 and a 1-year high of $135.48. The company has a market cap of $25.00 billion, a PE ratio of 15.36, a price-to-earnings-growth ratio of 1.48 and a beta of 1.31. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.72 and a quick ratio of 0.72. The stock's 50 day simple moving average is $129.51 and its 200-day simple moving average is $115.27.

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

Northern Trust Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Friday, September 5th were paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 2.4%. 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. Northern Trust's payout ratio is 37.60%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. BMO Capital Markets started coverage on Northern Trust in a research report on Friday, October 3rd. They set a "market perform" rating and a $142.00 target price on the stock. Wolfe Research upgraded Northern Trust from an "underperform" rating to a "peer perform" rating in a research note on Thursday, July 24th. Citigroup increased their price target on Northern Trust from $110.00 to $135.00 and gave the company a "neutral" rating in a research note on Friday, September 5th. TD Cowen assumed coverage on Northern Trust in a report on Thursday, September 25th. They issued a "buy" rating on the stock. Finally, Truist Financial increased their price objective on Northern Trust from $132.00 to $142.00 and gave the company a "hold" rating in a report on Thursday, October 2nd. Four investment 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. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $128.23.

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.

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