Simplicity Wealth LLC Increases Stock Holdings in Northern Trust Corporation $NTRS

Simplicity Wealth LLC boosted its holdings in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 66.5% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,368 shares of the asset manager's stock after purchasing an additional 2,543 shares during the quarter. Simplicity Wealth LLC's holdings in Northern Trust were worth $807,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of NTRS. Continuum Advisory LLC increased its holdings in Northern Trust by 5,340.0% during the 1st quarter. Continuum Advisory LLC now owns 272 shares of the asset manager's stock worth $27,000 after purchasing an additional 267 shares during the last quarter. Zions Bancorporation National Association UT purchased a new stake in Northern Trust during the 1st quarter worth approximately $29,000. Wayfinding Financial LLC purchased a new stake in Northern Trust during the 1st quarter worth approximately $35,000. Harbor Investment Advisory LLC increased its holdings in Northern Trust by 68.4% during the 2nd quarter. Harbor Investment Advisory LLC now owns 320 shares of the asset manager's stock worth $41,000 after purchasing an additional 130 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in Northern Trust during the 1st quarter worth approximately $43,000. 83.19% of the stock is currently owned by hedge funds and other institutional investors.

Northern Trust Trading Up 0.2%

NASDAQ:NTRS opened at $132.45 on Wednesday. Northern Trust Corporation has a 12-month low of $81.62 and a 12-month high of $135.48. The firm has a market capitalization of $25.33 billion, a P/E ratio of 15.56, a P/E/G ratio of 1.56 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 business has a 50 day simple moving average of $129.53 and a 200 day simple moving average of $115.16.

Northern Trust (NASDAQ:NTRS - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The asset manager reported $2.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.08 by $0.05. The business had revenue of $2 billion during the quarter, compared to analyst estimates of $1.96 billion. Northern Trust had a return on equity of 14.06% and a net margin of 11.75%.The business's revenue for the quarter was down 26.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.34 EPS. Equities research analysts predict that Northern Trust Corporation will post 8.27 EPS for the current 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%. The ex-dividend date of this dividend was Friday, September 5th. This is an increase from Northern Trust's previous quarterly dividend of $0.75. Northern Trust's dividend payout ratio (DPR) is presently 37.60%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Zacks Research downgraded Northern Trust from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 9th. Truist Financial lifted their target price on Northern Trust from $132.00 to $142.00 and gave the stock a "hold" rating in a research report on Thursday, October 2nd. BMO Capital Markets started coverage on Northern Trust in a research report on Friday, October 3rd. They issued a "market perform" rating and a $142.00 target price for the company. Weiss Ratings reiterated a "buy (b-)" rating on shares of Northern Trust in a research report on Saturday, September 27th. Finally, Wall Street Zen upgraded Northern Trust from a "sell" rating to a "hold" rating in a research report on Friday, September 26th. Four investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $128.23.

Insiders Place Their Bets

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 shares were purchased at an average price of $126.34 per share, with a total value of $32,343.04. Following the purchase, the director directly owned 2,525 shares of the company's stock, valued at approximately $319,008.50. The trade was a 11.28% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 0.77% of the stock is owned by insiders.

Northern Trust 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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