Signal Advisors Wealth LLC Purchases 9,853 Shares of Northern Trust Corporation $NTRS

Key Points

• Signal Advisors Wealth LLC boosted its Northern Trust position by 646.5% in the first quarter, buying 9,853 additional shares and bringing its total stake to 11,377 shares worth about $1.59 million.
• Northern Trust reported better-than-expected quarterly earnings, with EPS of $2.71 versus analysts’ estimate of $2.37 and revenue of $2.21 billion, up 13.8% year over year.
• The company also declared a quarterly dividend of $0.80 per share, implying a $3.20 annualized payout and a 1.8% yield, while analysts currently hold a consensus rating of “Hold” on the stock.

Signal Advisors Wealth LLC raised its holdings in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 646.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,377 shares of the asset manager's stock after buying an additional 9,853 shares during the period. Signal Advisors Wealth LLC's holdings in Northern Trust were worth $1,588,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of NTRS. Norges Bank bought a new stake in shares of Northern Trust during the fourth quarter worth $257,410,000. Eurizon Capital SGR S.p.A. bought a new stake in Northern Trust during the 4th quarter valued at about $126,794,000. AQR Capital Management LLC boosted its position in Northern Trust by 69.0% in the 4th quarter. AQR Capital Management LLC now owns 1,723,516 shares of the asset manager's stock valued at $235,415,000 after buying an additional 703,985 shares during the period. Jupiter Asset Management Ltd. grew its stake in Northern Trust by 114.1% in the 4th quarter. Jupiter Asset Management Ltd. now owns 1,031,579 shares of the asset manager's stock worth $140,903,000 after acquiring an additional 549,681 shares in the last quarter. Finally, PFA Pension Forsikringsaktieselskab purchased a new position in shares of Northern Trust during the fourth quarter worth approximately $67,126,000. Institutional investors own 83.19% of the company's stock.

Northern Trust Trading Up 0.4%

Shares of NASDAQ:NTRS opened at $176.26 on Wednesday. Northern Trust Corporation has a 12-month low of $117.76 and a 12-month high of $177.78. The business's fifty day simple moving average is $166.51 and its 200-day simple moving average is $151.14. The company has a market capitalization of $32.62 billion, a PE ratio of 18.46, a P/E/G ratio of 1.26 and a beta of 1.25. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.51.

Northern Trust (NASDAQ:NTRS - Get Free Report) last issued its quarterly earnings data on Tuesday, April 21st. The asset manager reported $2.71 earnings per share for the quarter, topping analysts' consensus estimates of $2.37 by $0.34. Northern Trust had a return on equity of 15.94% and a net margin of 12.84%.The firm had revenue of $2.21 billion during the quarter, compared to analysts' expectations of $2.13 billion. During the same period in the prior year, the business posted $1.90 EPS. The firm's quarterly revenue was up 13.8% on a year-over-year basis. As a group, equities research analysts predict that Northern Trust Corporation will post 10.68 earnings per share for the current fiscal year.

Northern Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 5th will be issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Friday, June 5th. Northern Trust's dividend payout ratio (DPR) is currently 33.51%.

Insider Transactions at Northern Trust

In other news, Director Robert Edward Jr. Moritz acquired 225 shares of Northern Trust stock in a transaction that occurred on Friday, May 1st. The stock was purchased at an average price of $166.41 per share, for a total transaction of $37,442.25. Following the purchase, the director directly owned 8,145 shares in the company, valued at $1,355,409.45. The trade was a 2.84% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Clive Bellows sold 2,800 shares of the firm's stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $165.02, for a total transaction of $462,056.00. Following the completion of the sale, the insider owned 28,217 shares of the company's stock, valued at approximately $4,656,369.34. This trade represents a 9.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 22,800 shares of company stock valued at $3,785,251 in the last 90 days. Insiders own 0.66% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on NTRS shares. Truist Financial boosted their price target on Northern Trust from $155.00 to $176.00 and gave the company a "hold" rating in a report on Wednesday, April 22nd. Wells Fargo & Company lifted their target price on Northern Trust from $150.00 to $175.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 22nd. BMO Capital Markets raised Northern Trust from a "market perform" rating to an "outperform" rating and set a $168.00 price target on the stock in a research report on Monday, April 6th. Zacks Research upgraded Northern Trust from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 12th. Finally, Weiss Ratings upgraded Northern Trust from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, May 4th. 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 issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $164.08.

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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