Northern Trust Corporation $NTRS is Confluence Investment Management LLC’s 5th Largest Position

Confluence Investment Management LLC raised its holdings in shares of Northern Trust Corporation (NASDAQ:NTRS) by 6.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,184,610 shares of the asset manager’s stock after purchasing an additional 72,867 shares during the quarter. Northern Trust accounts for 2.1% of Confluence Investment Management LLC’s portfolio, making the stock its 5th largest position. Confluence Investment Management LLC’s holdings in Northern Trust were worth $150,197,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in NTRS. Continuum Advisory LLC grew its position in shares of Northern Trust by 5,340.0% during the first quarter. Continuum Advisory LLC now owns 272 shares of the asset manager’s stock worth $27,000 after buying an additional 267 shares in the last quarter. Zions Bancorporation National Association UT bought a new position in Northern Trust during the 1st quarter valued at $29,000. Wayfinding Financial LLC acquired a new position in Northern Trust during the 1st quarter worth $35,000. Harbor Investment Advisory LLC increased its position in shares of Northern Trust by 68.4% in 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 bought a new stake in shares of Northern Trust in the 1st quarter worth about $43,000. 83.19% of the stock is owned by institutional investors and hedge funds.

Northern Trust Trading Down 0.0%

NASDAQ:NTRS opened at $129.42 on Friday. The business has a fifty day moving average of $127.95 and a 200-day moving average of $111.62. The stock has a market cap of $24.75 billion, a price-to-earnings ratio of 15.21, a PEG ratio of 1.54 and a beta of 1.30. Northern Trust Corporation has a 1 year low of $81.62 and a 1 year high of $133.00. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.72 and a current ratio of 0.72.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings results on Wednesday, July 23rd. The asset manager reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.05. Northern Trust had a return on equity of 14.06% and a net margin of 11.75%.The company had revenue of $2 billion for the quarter, compared to analysts’ expectations of $1.96 billion. During the same period last year, the firm earned $4.34 EPS. The firm’s revenue for the quarter was down 26.4% on a year-over-year basis. Equities analysts predict 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 given a $0.80 dividend. This is a positive change from Northern Trust’s previous quarterly dividend of $0.75. The ex-dividend date is Friday, September 5th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.5%. Northern Trust’s dividend payout ratio is 37.60%.

Insider Buying and Selling

In other news, Director Robert Edward Jr. Moritz bought 256 shares of the company’s stock in a transaction dated Wednesday, August 13th. The shares were acquired at an average cost of $126.34 per share, with a total value of $32,343.04. Following the completion of the transaction, the director directly owned 2,525 shares in the company, valued at approximately $319,008.50. The trade was a 11.28% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on NTRS shares. Zacks Research downgraded Northern Trust from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Citigroup boosted their price target on Northern Trust from $110.00 to $135.00 and gave the company a “neutral” rating in a report on Friday, September 5th. Wells Fargo & Company raised their price objective on Northern Trust from $111.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 24th. Evercore ISI boosted their target price 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. Finally, Morgan Stanley raised their price target on shares of Northern Trust from $103.00 to $106.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 1st. Two analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $119.58.

About Northern Trust

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.