United Capital Financial Advisors LLC Takes Position in Northern Trust Corporation $NTRS

Key Points

• United Capital Financial Advisors purchased 40,661 shares of Northern Trust worth approximately $7.1 million in the second quarter. Other institutional investors also initiated positions, with institutions collectively owning 83.19% of the company.
• Northern Trust reported quarterly EPS of $4.23, exceeding estimates of $2.71, while revenue rose 35.1% year over year to $2.71 billion. The company also increased its quarterly dividend from $0.80 to $0.88 per share, implying a 1.9% yield.
• Analysts maintain a consensus “Hold” rating with an average price target of $180.68, below the stock’s reported price of $186.27.

United Capital Financial Advisors LLC purchased a new stake in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 40,661 shares of the asset manager's stock, valued at approximately $7,068,000.

Other large investors have also added to or reduced their stakes in the company. Dearborn Partners LLC bought a new position in shares of Northern Trust during the 2nd quarter valued at approximately $1,590,000. Equitable Holdings Inc. bought a new stake in Northern Trust in the second quarter worth $368,000. Jefferies Financial Group Inc. purchased a new position in Northern Trust during the second quarter worth $1,917,000. Public Employees Retirement System of Ohio purchased a new position in Northern Trust during the second quarter worth $10,474,000. Finally, MASTERINVEST Kapitalanlage GmbH bought a new position in Northern Trust during the second quarter valued at $870,000. Institutional investors own 83.19% of the company's stock.

Northern Trust Stock Performance

NTRS stock opened at $186.27 on Friday. Northern Trust Corporation has a 1-year low of $121.12 and a 1-year high of $195.78. The business has a 50-day moving average price of $182.57 and a 200 day moving average price of $164.39. The company has a market capitalization of $34.08 billion, a P/E ratio of 15.99, a PEG ratio of 1.06 and a beta of 1.25. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.65 and a quick ratio of 0.65.

Northern Trust (NASDAQ:NTRS - Get Free Report) last issued its earnings results on Wednesday, July 22nd. The asset manager reported $4.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.71 by $1.52. The company 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 firm's quarterly revenue was up 35.1% on a year-over-year basis. During the same period in the prior year, the business earned $2.13 EPS. As a group, equities research analysts forecast that Northern Trust Corporation will post 11.59 EPS for the current fiscal year.

Northern Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 4th will be paid a dividend of $0.88 per share. This is a boost from Northern Trust's previous quarterly dividend of $0.80. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Friday, September 4th. Northern Trust's payout ratio is 27.47%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price objective on Northern Trust from $179.50 to $185.50 and gave the company a "neutral" rating in a report on Tuesday, August 4th. Royal Bank Of Canada lowered Northern Trust from an "outperform" rating to a "sector perform" rating and set a $178.00 target price on the stock. in a research note on Wednesday, July 22nd. Weiss Ratings reissued a "buy (b)" rating on shares of Northern Trust in a research note on Friday, July 31st. UBS Group set a $186.00 price target on shares of Northern Trust in a report on Friday, June 26th. Finally, Wells Fargo & Company raised their price target on shares of Northern Trust from $189.00 to $194.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 23rd. Four investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, Northern Trust currently has a consensus rating of "Hold" and a consensus target price of $180.68.

Insider Activity at Northern Trust

In other Northern Trust news, EVP Thomas A. South sold 1,800 shares of the company's stock in a transaction on Monday, August 24th. The stock was sold at an average price of $184.90, for a total transaction of $332,820.00. Following the completion of the sale, the executive vice president owned 92,917 shares in the company, valued at $17,180,353.30. This represents a 1.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert Edward Jr. Moritz bought 255 shares of the company's stock in a transaction on Wednesday, July 29th. The shares were bought 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 approximately $1,508,388. This represents a 3.13% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.66% of the company's stock.

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.

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