Ritholtz Wealth Management Has $1.28 Million Stock Holdings in Northern Trust Corporation (NASDAQ:NTRS)

Ritholtz Wealth Management increased its holdings in Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 38.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,927 shares of the asset manager's stock after purchasing an additional 3,579 shares during the period. Ritholtz Wealth Management's holdings in Northern Trust were worth $1,275,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its stake 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 worth $24,132,000 after acquiring an additional 1,187 shares in the last quarter. CIBC Asset Management Inc increased its position in shares of Northern Trust by 1.0% during the 4th quarter. CIBC Asset Management Inc now owns 34,954 shares of the asset manager's stock worth $3,583,000 after purchasing an additional 356 shares in the last quarter. Truist Financial Corp increased its position in shares of Northern Trust by 6.4% during the 4th quarter. Truist Financial Corp now owns 12,313 shares of the asset manager's stock worth $1,262,000 after purchasing an additional 744 shares in the last quarter. Venturi Wealth Management LLC increased its position in shares of Northern Trust by 434.6% during the 4th quarter. Venturi Wealth Management LLC now owns 1,791 shares of the asset manager's stock worth $184,000 after purchasing an additional 1,456 shares in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund increased its holdings in shares of Northern Trust by 33.2% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 7,955 shares of the asset manager's stock worth $815,000 after buying an additional 1,985 shares in the last quarter. Institutional investors and hedge funds own 83.19% of the company's stock.

Northern Trust Stock Down 1.2%

NASDAQ NTRS opened at $109.63 on Wednesday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.57. Northern Trust Corporation has a 1-year low of $80.81 and a 1-year high of $114.67. The company has a 50 day moving average of $100.60 and a 200-day moving average of $103.17. The company has a market cap of $21.33 billion, a price-to-earnings ratio of 10.23, a PEG ratio of 2.09 and a beta of 1.22.

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

Northern Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 6th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date is Friday, June 6th. Northern Trust's dividend payout ratio is 27.99%.

Insider Buying and Selling

In other Northern Trust news, EVP Clive Bellows sold 3,300 shares of the company's stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $99.95, for a total value of $329,835.00. Following the completion of the transaction, the executive vice president now directly owns 28,736 shares in the company, valued at approximately $2,872,163.20. This represents a 10.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Teresa Parker sold 6,467 shares of the stock in a transaction on Friday, May 9th. The shares were sold at an average price of $100.62, for a total value of $650,709.54. Following the completion of the sale, the insider now owns 79,391 shares of the company's stock, valued at $7,988,322.42. The trade was a 7.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,772 shares of company stock worth $981,069 in the last three months. 0.77% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on NTRS. Bank of America dropped their price objective on shares of Northern Trust from $123.00 to $121.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. Citigroup dropped their price target on Northern Trust from $110.00 to $105.00 and set a "neutral" rating for the company in a report on Monday, March 24th. Morgan Stanley restated an "underweight" rating and issued a $103.00 target price (up from $101.00) on shares of Northern Trust in a research note on Tuesday, June 3rd. Wells Fargo & Company lowered their target price on Northern Trust from $118.00 to $111.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 23rd. Finally, Evercore ISI lowered their price objective on shares of Northern Trust from $104.00 to $100.00 and set an "in-line" rating for the company in a research report on Wednesday, April 23rd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $108.42.

Northern Trust Company 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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