Vest Financial LLC Acquires 21,768 Shares of Northern Trust Corporation $NTRS

Vest Financial LLC boosted its position in shares of Northern Trust Corporation (NASDAQ:NTRS) by 18.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 136,841 shares of the asset manager’s stock after purchasing an additional 21,768 shares during the period. Vest Financial LLC owned about 0.07% of Northern Trust worth $17,350,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in NTRS. Continuum Advisory LLC grew its holdings 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 purchasing an additional 267 shares during the last quarter. Zions Bancorporation National Association UT bought a new position in Northern Trust during the 1st quarter valued at about $29,000. Wayfinding Financial LLC bought a new position in Northern Trust during the 1st quarter valued at about $35,000. GFG Capital LLC bought a new position in Northern Trust during the 2nd quarter valued at about $35,000. Finally, Harbor Investment Advisory LLC grew its holdings 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 purchasing an additional 130 shares during the last quarter. 83.19% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Northern Trust

In other Northern Trust news, Director Robert Edward Jr. Moritz purchased 256 shares of the stock in a transaction dated Wednesday, August 13th. The stock was purchased at an average price 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 approximately $319,008.50. This trade represents a 11.28% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.77% of the company’s stock.

Northern Trust Price Performance

Shares of NTRS opened at $127.03 on Tuesday. The company has a 50 day moving average price of $129.45 and a 200-day moving average price of $116.04. Northern Trust Corporation has a fifty-two week low of $81.62 and a fifty-two week high of $135.48. The stock has a market capitalization of $24.29 billion, a PE ratio of 14.93, a PEG ratio of 1.40 and a beta of 1.31. 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 announced its quarterly earnings results 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. 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 quarter in the prior year, the company earned $4.34 EPS. The company’s revenue was down 26.4% compared to the same quarter last year. Equities analysts predict that Northern Trust Corporation will post 8.27 earnings per share for the current fiscal year.

Northern Trust Increases Dividend

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

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Wolfe Research upgraded shares of Northern Trust from an “underperform” rating to a “peer perform” rating in a report on Thursday, July 24th. Barclays upped their target price on shares of Northern Trust from $128.00 to $136.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 24th. The Goldman Sachs Group set a $135.00 target price on shares of Northern Trust in a research note on Tuesday, September 30th. 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 on the stock. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Northern Trust in a research note on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Northern Trust presently has an average rating of “Hold” and a consensus price target 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.