Trust Co. of Toledo NA OH Makes New Investment in Northern Trust Corporation $NTRS

Trust Co. of Toledo NA OH bought a new position in shares of Northern Trust Corporation (NASDAQ:NTRS) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 1,300 shares of the asset manager’s stock, valued at approximately $165,000.

Several other hedge funds have also recently bought and sold shares of NTRS. Continuum Advisory LLC raised its holdings in shares of Northern Trust by 5,340.0% in the first quarter. Continuum Advisory LLC now owns 272 shares of the asset manager’s stock valued at $27,000 after purchasing an additional 267 shares during the last quarter. Zions Bancorporation National Association UT acquired a new stake in shares of Northern Trust in the first quarter valued at approximately $29,000. Wayfinding Financial LLC acquired a new stake in shares of Northern Trust in the first quarter valued at approximately $35,000. GFG Capital LLC acquired a new stake in shares of Northern Trust in the second quarter valued at approximately $35,000. Finally, 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. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Northern Trust Trading Down 4.1%

NTRS 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 fifty day moving average price of $129.46 and a two-hundred day moving average price of $115.72. Northern Trust Corporation has a one year low of $81.62 and a one year high of $135.48. The stock has a market cap of $23.85 billion, a price-to-earnings ratio of 14.66, a price-to-earnings-growth ratio of 1.40 and a beta of 1.31.

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. Equities analysts anticipate that Northern Trust Corporation will post 8.27 EPS for the current year.

Northern Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Friday, September 5th were given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 2.6%. 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. Northern Trust’s dividend payout ratio (DPR) is presently 37.60%.

Insider Buying and Selling

In related news, Director Robert Edward Jr. Moritz acquired 256 shares of Northern Trust stock in a transaction on Wednesday, August 13th. The stock was purchased 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 $319,008.50. This trade represents a 11.28% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.77% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on NTRS shares. TD Cowen started coverage on shares of Northern Trust in a report on Thursday, September 25th. They issued a “buy” rating on the stock. BMO Capital Markets started coverage on shares of Northern Trust in a research note on Friday, October 3rd. They issued a “market perform” rating and a $142.00 target price for the company. Wolfe Research raised shares of Northern Trust from an “underperform” rating to a “peer perform” rating in a research note on Thursday, July 24th. Barclays raised their target price 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. Finally, Wall Street Zen raised shares of Northern Trust from a “sell” rating to a “hold” rating in a research note on Friday, September 26th. Four research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Northern Trust has a consensus rating of “Hold” and a consensus target price of $128.23.

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.