Fifth Third Bancorp Purchases 257 Shares of Northern Trust Corporation $NTRS

Fifth Third Bancorp raised its position in Northern Trust Corporation (NASDAQ:NTRS) by 2.4% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 11,133 shares of the asset manager’s stock after purchasing an additional 257 shares during the period. Fifth Third Bancorp’s holdings in Northern Trust were worth $1,412,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Continuum Advisory LLC raised its position in Northern Trust by 5,340.0% in the 1st quarter. Continuum Advisory LLC now owns 272 shares of the asset manager’s stock valued at $27,000 after buying an additional 267 shares during the last quarter. Zions Bancorporation National Association UT bought a new position in shares of Northern Trust during the 1st quarter worth approximately $29,000. Harbor Investment Advisory LLC raised its holdings in shares of Northern Trust by 68.4% in the second quarter. Harbor Investment Advisory LLC now owns 320 shares of the asset manager’s stock valued at $41,000 after purchasing an additional 130 shares during the last quarter. Wayfinding Financial LLC bought a new stake in shares of Northern Trust in the first quarter worth $35,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in Northern Trust during the first quarter worth $43,000. 83.19% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on NTRS shares. Wolfe Research upgraded shares of Northern Trust from an “underperform” rating to a “peer perform” rating in a research note on Thursday, July 24th. Evercore ISI upped their target price on Northern Trust from $108.00 to $121.00 and gave the stock an “in-line” rating in a report on Wednesday, July 2nd. The Goldman Sachs Group increased their price target on Northern Trust from $89.00 to $101.00 and gave the company a “sell” rating in a research report on Wednesday, July 2nd. Barclays boosted their price target on Northern Trust from $128.00 to $136.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 24th. Finally, Zacks Research downgraded Northern Trust from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 9th. Three 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’s stock. According to data from MarketBeat.com, Northern Trust has a consensus rating of “Hold” and a consensus price target of $119.58.

Northern Trust Stock Up 1.5%

NTRS stock opened at $133.31 on Friday. Northern Trust Corporation has a 1-year low of $81.62 and a 1-year high of $135.00. The business’s 50 day simple moving average is $128.86 and its 200 day simple moving average is $113.48. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $25.49 billion, a PE ratio of 15.67, a PEG ratio of 1.58 and a beta of 1.30.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings data 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 firm had revenue of $2 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same period in the previous year, the business posted $4.34 earnings per share. The company’s revenue for the quarter was down 26.4% compared to the same quarter last year. As a group, research analysts anticipate that Northern Trust Corporation will post 8.27 EPS 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 paid a $0.80 dividend. This is an increase 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 yield of 2.4%. Northern Trust’s dividend payout ratio (DPR) is currently 37.60%.

Insiders Place Their Bets

In related news, Director Robert Edward Jr. Moritz acquired 256 shares of the business’s stock in a transaction on Wednesday, August 13th. The stock was purchased at an average cost of $126.34 per share, for a total transaction of $32,343.04. Following the completion of the transaction, the director directly owned 2,525 shares of the company’s stock, valued at approximately $319,008.50. The trade was a 11.28% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.77% of the stock is currently owned by corporate insiders.

Northern Trust Company 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.