Van Hulzen Asset Management LLC Makes New Investment in Northern Trust Corporation $NTRS

Van Hulzen Asset Management LLC purchased a new position in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 16,664 shares of the asset manager's stock, valued at approximately $2,897,000.

Several other hedge funds also recently modified their holdings of NTRS. Keating Financial Advisory Services Inc. bought a new position in Northern Trust during the second quarter worth $31,000. Reflection Asset Management bought a new stake in Northern Trust in the 4th quarter valued at $25,000. Triumph Capital Management acquired a new stake in Northern Trust in the 3rd quarter worth $25,000. Basecamp Wealth Advisors LLC grew its position in Northern Trust by 99.0% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 203 shares of the asset manager's stock worth $28,000 after purchasing an additional 101 shares during the last quarter. Finally, Clearstead Trust LLC bought a new position in shares of Northern Trust during the 2nd quarter worth about $37,000. 83.19% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on NTRS. JPMorgan Chase & Co. increased their target price on shares of Northern Trust from $179.50 to $185.50 and gave the company a "neutral" rating in a research note on Tuesday, August 4th. UBS Group set a $186.00 price target on Northern Trust in a report on Friday, June 26th. Truist Financial raised their price objective on Northern Trust from $176.00 to $186.00 and gave the stock a "hold" rating in a research report on Friday, June 26th. Morgan Stanley lifted their price objective on Northern Trust from $170.00 to $173.00 and gave the stock an "underweight" rating in a report on Thursday, July 23rd. Finally, Evercore set a $179.00 price objective on Northern Trust in a research report on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $180.68.

Insider Activity at Northern Trust

In other Northern Trust news, Director Robert Edward Jr. Moritz acquired 255 shares of the business's stock in a transaction that occurred on Wednesday, July 29th. The shares were acquired at an average cost of $179.57 per share, for a total transaction of $45,790.35. Following the completion of the acquisition, the director directly owned 8,400 shares of the company's stock, valued at approximately $1,508,388. This represents a 3.13% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.66% of the stock is currently owned by corporate insiders.

Northern Trust Price Performance

Northern Trust stock opened at $186.66 on Tuesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.65 and a current ratio of 0.65. The firm has a market cap of $34.15 billion, a P/E ratio of 16.02, a P/E/G ratio of 1.04 and a beta of 1.25. The business's fifty day moving average is $181.79 and its two-hundred day moving average is $163.61. Northern Trust Corporation has a 52 week low of $121.12 and a 52 week high of $195.78.

Northern Trust (NASDAQ:NTRS - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The asset manager reported $4.23 earnings per share for the quarter, beating analysts' consensus estimates of $2.71 by $1.52. Northern Trust had a return on equity of 16.91% and a net margin of 14.76%.The company had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.69 billion. During the same period last year, the company posted $2.13 earnings per share. The firm's quarterly revenue was up 35.1% compared to the same quarter last year. Equities research analysts forecast that Northern Trust Corporation will post 11.59 earnings per share for the current fiscal year.

Northern Trust Increases Dividend

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

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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