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

Venturi Wealth Management LLC acquired a new stake in Northern Trust Corporation (NASDAQ:NTRS) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 2,260 shares of the asset manager’s stock, valued at approximately $287,000.

Other institutional investors also recently made changes to their positions in the company. Continuum Advisory LLC boosted its position 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 buying an additional 267 shares during the period. Zions Bancorporation National Association UT purchased a new stake in Northern Trust during the 1st quarter valued at $29,000. Harbor Investment Advisory LLC boosted its position in Northern Trust by 68.4% during the 2nd quarter. Harbor Investment Advisory LLC now owns 320 shares of the asset manager’s stock valued at $41,000 after buying an additional 130 shares during the period. Wayfinding Financial LLC purchased a new stake in Northern Trust during the 1st quarter valued at $35,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in Northern Trust during the 1st quarter valued at $43,000. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Insider Buying and Selling

In other news, Director Robert Edward Jr. Moritz acquired 256 shares of the business’s stock in a transaction that occurred on Wednesday, August 13th. The shares were bought at an average cost of $126.34 per share, with a total value of $32,343.04. Following the transaction, the director owned 2,525 shares of the company’s stock, valued at $319,008.50. This trade represents a 11.28% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on NTRS shares. Zacks Research cut shares of Northern Trust from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 9th. Wolfe Research raised shares of Northern Trust from an “underperform” rating to a “peer perform” rating in a research report on Thursday, July 24th. Truist Financial increased their price target on shares of Northern Trust from $132.00 to $142.00 and gave the company a “hold” rating in a research report on Thursday, October 2nd. Royal Bank Of Canada set a $123.00 price objective on shares of Northern Trust and gave the stock an “outperform” rating in a report on Monday, June 30th. Finally, Citigroup upped their price objective on shares of Northern Trust from $110.00 to $135.00 and gave the stock a “neutral” rating in a report on Friday, September 5th. Four research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $128.23.

Northern Trust Stock Down 4.1%

Shares of Northern Trust 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. The company has a 50-day moving average of $129.46 and a 200 day moving average of $115.62. The firm has a market cap of $23.85 billion, a price-to-earnings ratio of 14.66, a PEG ratio of 1.45 and a beta of 1.31. Northern Trust Corporation has a 1 year low of $81.62 and a 1 year high of $135.48.

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, topping the consensus estimate of $2.08 by $0.05. Northern Trust had a net margin of 11.75% and a return on equity of 14.06%. The company had revenue of $2 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same period last year, the business earned $4.34 EPS. Northern Trust’s quarterly revenue was down 26.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Northern Trust Corporation will post 8.27 earnings per share for the current fiscal year.

Northern Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Friday, September 5th were given a dividend of $0.80 per share. This is a positive change from Northern Trust’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Friday, September 5th. This represents a $3.20 annualized dividend and a yield of 2.6%. Northern Trust’s payout ratio is currently 37.60%.

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.