Graves Light Lenhart Wealth Inc. Takes Position in Northern Trust Corporation $NTRS

Graves Light Lenhart Wealth Inc. purchased a new stake in Northern Trust Corporation (NASDAQ:NTRS) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,000 shares of the asset manager’s stock, valued at approximately $254,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Bank of New York Mellon Corp lifted its stake in shares of Northern Trust by 47.8% during the first quarter. Bank of New York Mellon Corp now owns 1,810,816 shares of the asset manager’s stock valued at $178,637,000 after buying an additional 585,992 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of Northern Trust by 4.9% during the first quarter. Massachusetts Financial Services Co. MA now owns 7,850,088 shares of the asset manager’s stock valued at $774,411,000 after buying an additional 363,472 shares during the period. Asset Management One Co. Ltd. lifted its stake in shares of Northern Trust by 8.4% during the first quarter. Asset Management One Co. Ltd. now owns 84,974 shares of the asset manager’s stock valued at $8,383,000 after buying an additional 6,570 shares during the period. Allianz Asset Management GmbH lifted its stake in shares of Northern Trust by 529.4% during the first quarter. Allianz Asset Management GmbH now owns 461,383 shares of the asset manager’s stock valued at $45,515,000 after buying an additional 388,081 shares during the period. Finally, Kathmere Capital Management LLC lifted its stake in shares of Northern Trust by 96.7% during the first quarter. Kathmere Capital Management LLC now owns 5,239 shares of the asset manager’s stock valued at $517,000 after buying an additional 2,575 shares during the period. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Insider Activity at Northern Trust

In other Northern Trust news, Director Robert Edward Jr. Moritz purchased 256 shares of the firm’s stock in a transaction dated Wednesday, August 13th. The stock was acquired at an average cost of $126.34 per share, with a total value of $32,343.04. Following the acquisition, the director owned 2,525 shares of the company’s stock, valued at approximately $319,008.50. This represents a 11.28% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.77% of the company’s stock.

Northern Trust Stock Performance

Northern Trust stock opened at $129.25 on Wednesday. The company has a market capitalization of $24.72 billion, a price-to-earnings ratio of 15.19, a price-to-earnings-growth ratio of 1.55 and a beta of 1.30. 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 12-month low of $81.62 and a 12-month high of $133.00. The firm’s fifty day moving average price is $128.05 and its 200 day moving average price is $111.91.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings data on Wednesday, July 23rd. The asset manager reported $2.13 earnings per share 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 for the quarter was down 26.4% compared to the same quarter last year. During the same period last year, the business earned $4.34 EPS. On average, research analysts forecast that Northern Trust Corporation will post 8.27 EPS for the current fiscal year.

Northern Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 5th will be issued a $0.80 dividend. This is a boost from Northern Trust’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Friday, September 5th. This represents a $3.20 annualized dividend and a dividend yield of 2.5%. Northern Trust’s dividend payout ratio (DPR) is presently 37.60%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Morgan Stanley upped their price objective 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. Citigroup increased their price target on shares of Northern Trust from $110.00 to $135.00 and gave the stock a “neutral” rating in a research note on Friday, September 5th. Evercore ISI increased their price target on shares of Northern Trust from $108.00 to $121.00 and gave the stock an “in-line” rating in a research note on Wednesday, July 2nd. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and set a $118.00 price target (down previously from $120.00) on shares of Northern Trust in a research note on Thursday, July 24th. Finally, The Goldman Sachs Group increased their price target on shares of Northern Trust from $89.00 to $101.00 and gave the stock a “sell” rating in a research note on Wednesday, July 2nd. Two equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $119.58.

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.