Venturi Wealth Management LLC Takes $287,000 Position in Northern Trust Corporation $NTRS

Key Points

• Venturi Wealth Management LLC has purchased a new stake in Northern Trust Corporation worth approximately $287,000, acquiring 2,260 shares during the second quarter.
• Institutional investor ownership of Northern Trust stands at 83.19%, with several firms recently increasing their positions in the stock.
• Analysts have mixed ratings for Northern Trust, with reports indicating a consensus rating of "Hold" and an average price target of $128.23.

Venturi Wealth Management LLC bought 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 and Exchange Commission. The institutional investor bought 2,260 shares of the asset manager's stock, valued at approximately $287,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. MassMutual Private Wealth & Trust FSB grew its position in shares of Northern Trust by 9.0% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,062 shares of the asset manager's stock valued at $135,000 after acquiring an additional 88 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Northern Trust by 0.4% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,798 shares of the asset manager's stock valued at $2,764,000 after purchasing an additional 95 shares during the period. OLD National Bancorp IN raised its position in shares of Northern Trust by 1.3% in the second quarter. OLD National Bancorp IN now owns 7,140 shares of the asset manager's stock valued at $905,000 after purchasing an additional 95 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of Northern Trust by 0.6% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 17,814 shares of the asset manager's stock valued at $2,346,000 after purchasing an additional 105 shares during the period. Finally, Mather Group LLC. raised its position in shares of Northern Trust by 3.1% in the second quarter. Mather Group LLC. now owns 3,532 shares of the asset manager's stock valued at $448,000 after purchasing an additional 106 shares during the period. 83.19% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Northern Trust news, Director Robert Edward Jr. Moritz acquired 256 shares of the business's stock in a transaction dated Wednesday, August 13th. The stock was bought at an average price of $126.34 per share, with a total value of $32,343.04. Following the purchase, the director owned 2,525 shares of the company's stock, valued at approximately $319,008.50. This trade represents a 11.28% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.77% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Zacks Research lowered shares of Northern Trust from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 9th. Wells Fargo & Company boosted their price target on shares of Northern Trust from $120.00 to $127.00 and gave the company an "equal weight" rating in a research report on Friday, October 3rd. Citigroup boosted their price target on shares of Northern Trust from $110.00 to $135.00 and gave the company a "neutral" rating in a research report on Friday, September 5th. The Goldman Sachs Group set a $135.00 price target on shares of Northern Trust in a research report on Tuesday, September 30th. Finally, TD Cowen started coverage on shares of Northern Trust in a research report on Thursday, September 25th. They issued a "buy" rating on the stock. Four analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $128.23.

Northern Trust Price Performance

NTRS stock opened at $124.72 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.72 and a quick ratio of 0.72. Northern Trust Corporation has a one year low of $81.62 and a one year high of $135.48. The stock has a market cap of $23.85 billion, a PE ratio of 14.66, a P/E/G ratio of 1.45 and a beta of 1.31. The firm has a 50 day simple moving average of $129.46 and a two-hundred day simple moving average of $115.62.

Northern Trust (NASDAQ:NTRS - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The asset manager reported $2.13 EPS for the quarter, topping analysts' consensus estimates of $2.08 by $0.05. Northern Trust had a net margin of 11.75% and a return on equity of 14.06%. The business had revenue of $2 billion during the quarter, compared to analysts' expectations of $1.96 billion. During the same quarter in the previous year, the company earned $4.34 EPS. The business's quarterly revenue was down 26.4% compared to the same quarter last year. On average, analysts predict that Northern Trust Corporation will post 8.27 EPS for the current fiscal year.

Northern Trust Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Friday, September 5th were paid a $0.80 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $3.20 dividend on an annualized basis and a yield of 2.6%. This is a boost from Northern Trust's previous quarterly dividend of $0.75. Northern Trust's dividend payout ratio is presently 37.60%.

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.

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 and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.