Sanctuary Advisors LLC Invests $2.02 Million in Northern Trust Corporation $NTRS

Key Points

• Sanctuary Advisors acquired 11,616 Northern Trust shares in the second quarter, valued at approximately $2.02 million. Institutional investors collectively own 83.19% of NTRS.
• Northern Trust reported quarterly earnings of $4.23 per share, beating estimates of $2.71, while revenue rose 35.1% year over year to $2.71 billion.
• The company increased its quarterly dividend from $0.80 to $0.88 per share, implying an annualized dividend of $3.52 and a 1.9% yield. Analysts maintain a consensus “Hold” rating with an average price target of $180.68.

Sanctuary Advisors LLC acquired a new stake in Northern Trust Corporation (NASDAQ:NTRS - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 11,616 shares of the asset manager's stock, valued at approximately $2,019,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of NTRS. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Northern Trust in the 2nd quarter worth approximately $15,512,000. Meiji Yasuda Asset Management Co Ltd. acquired a new stake in shares of Northern Trust during the 2nd quarter valued at approximately $663,000. Barrow Hanley Mewhinney & Strauss LLC bought a new position in Northern Trust during the second quarter worth $20,351,000. Haverford Trust Co bought a new position in Northern Trust during the second quarter worth $298,000. Finally, Bank of Nova Scotia acquired a new position in Northern Trust in the second quarter worth $6,762,000. Institutional investors and hedge funds own 83.19% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on NTRS shares. Bank of America increased their target price on shares of Northern Trust from $190.00 to $200.00 and gave the stock a "buy" rating in a report on Tuesday, July 7th. Royal Bank Of Canada lowered shares of Northern Trust from an "outperform" rating to a "sector perform" rating and set a $178.00 price target for the company. in a report on Wednesday, July 22nd. Evercore set a $179.00 price objective on shares of Northern Trust in a research note on Monday, July 6th. Wells Fargo & Company raised their target price on shares of Northern Trust from $189.00 to $194.00 and gave the stock an "equal weight" rating in a report on Thursday, July 23rd. Finally, Zacks Research upgraded Northern Trust from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, Northern Trust currently has a consensus rating of "Hold" and a consensus target price of $180.68.

Northern Trust Stock Performance

Shares of NTRS opened at $187.66 on Thursday. The firm has a fifty day moving average of $182.29 and a 200-day moving average of $164.15. The company has a market cap of $34.33 billion, a price-to-earnings ratio of 16.11, a price-to-earnings-growth ratio of 1.05 and a beta of 1.25. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.65 and a current ratio of 0.65. Northern Trust Corporation has a 1 year low of $121.12 and a 1 year high of $195.78.

Northern Trust (NASDAQ:NTRS - Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The asset manager reported $4.23 earnings per share for the quarter, topping analysts' consensus estimates of $2.71 by $1.52. The business had revenue of $2.71 billion for the quarter, compared to analysts' expectations of $2.69 billion. Northern Trust had a net margin of 14.76% and a return on equity of 16.91%. The company's revenue for the quarter was up 35.1% compared to the same quarter last year. During the same quarter last year, the company earned $2.13 EPS. As a group, equities analysts anticipate that Northern Trust Corporation will post 11.59 earnings per share for the current year.

Northern Trust Increases Dividend

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

Insider Activity at Northern Trust

In other Northern Trust news, Director Robert Edward Jr. Moritz bought 255 shares of the stock in a transaction that occurred on Wednesday, July 29th. The shares were purchased at an average cost of $179.57 per share, for a total transaction of $45,790.35. Following the transaction, the director directly owned 8,400 shares in the company, valued at $1,508,388. The trade was a 3.13% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Thomas A. South sold 1,800 shares of the business's stock in a transaction on Monday, August 24th. The stock was sold at an average price of $184.90, for a total value of $332,820.00. Following the transaction, the executive vice president owned 92,917 shares of the company's stock, valued at $17,180,353.30. This trade represents a 1.90% decrease in their position. The SEC filing for this sale provides additional information. 0.66% of the stock is currently owned by company insiders.

Northern Trust Company 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.

Want to see what other hedge funds are holding NTRS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Northern Trust Corporation (NASDAQ:NTRS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source