Northern Trust Corporation $NTRS Shares Acquired by CreativeOne Wealth LLC

CreativeOne Wealth LLC lifted its stake in shares of Northern Trust Corporation (NASDAQ:NTRS) by 49.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,682 shares of the asset manager’s stock after buying an additional 1,213 shares during the period. CreativeOne Wealth LLC’s holdings in Northern Trust were worth $363,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Colonial Trust Co SC lifted its stake in Northern Trust by 6,400.0% during the 4th quarter. Colonial Trust Co SC now owns 260 shares of the asset manager’s stock valued at $27,000 after acquiring an additional 256 shares during the period. Continuum Advisory LLC lifted its stake in Northern Trust by 5,340.0% during the 1st quarter. Continuum Advisory LLC now owns 272 shares of the asset manager’s stock valued at $27,000 after acquiring an additional 267 shares during the period. Zions Bancorporation National Association UT acquired a new stake in Northern Trust during the 1st quarter valued at approximately $29,000. Wayfinding Financial LLC acquired a new stake in Northern Trust during the 1st quarter valued at approximately $35,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in Northern Trust during the 1st quarter valued at approximately $43,000. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have commented on the stock. Barclays lifted their price objective on shares of Northern Trust from $128.00 to $136.00 and gave the company an “equal weight” rating in a research note on Thursday, July 24th. Evercore ISI lifted their price objective on shares of Northern Trust from $108.00 to $121.00 and gave the company an “in-line” rating in a research note on Wednesday, July 2nd. Truist Financial lifted their price objective on shares of Northern Trust from $128.00 to $132.00 and gave the company a “hold” rating in a research note on Thursday, August 14th. Wall Street Zen cut shares of Northern Trust from a “hold” rating to a “sell” rating in a research note on Saturday, August 16th. Finally, Morgan Stanley boosted their target price on shares of Northern Trust from $103.00 to $106.00 and gave the company an “underweight” rating in a research note on Tuesday, July 1st. Two research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $117.08.

Northern Trust Stock Performance

NTRS opened at $131.28 on Tuesday. 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 firm has a fifty day moving average price of $127.57 and a 200 day moving average price of $110.59. Northern Trust Corporation has a 1 year low of $81.62 and a 1 year high of $133.00. The stock has a market cap of $25.10 billion, a P/E ratio of 15.43, a P/E/G ratio of 1.56 and a beta of 1.30.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings results on Wednesday, July 23rd. The asset manager reported $2.13 EPS for the quarter, topping the consensus estimate of $2.08 by $0.05. The company had revenue of $2 billion during the quarter, compared to analyst estimates of $1.96 billion. Northern Trust had a net margin of 11.75% and a return on equity of 14.06%. The firm’s revenue was down 26.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.34 EPS. Equities research analysts anticipate that Northern Trust Corporation will post 8.27 earnings per share for the current year.

Northern Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 5th will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Friday, September 5th. This is a boost from Northern Trust’s previous quarterly dividend of $0.75. Northern Trust’s payout ratio is presently 35.25%.

Insider Buying and Selling

In related news, Director Robert Edward Jr. Moritz purchased 256 shares of the business’s stock in a transaction that occurred on 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 acquisition, the director owned 2,525 shares in the company, valued at $319,008.50. The trade was a 11.28% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.77% of the company’s stock.

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.