Northern Trust Corporation $NTRS Shares Bought by Wealthfront Advisers LLC

Wealthfront Advisers LLC increased its position in Northern Trust Corporation (NASDAQ:NTRS) by 89.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,014 shares of the asset manager’s stock after acquiring an additional 7,582 shares during the period. Wealthfront Advisers LLC’s holdings in Northern Trust were worth $2,030,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NTRS. Massachusetts Financial Services Co. MA grew its holdings in Northern Trust by 4.9% in 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 purchasing an additional 363,472 shares during the last quarter. Invesco Ltd. boosted its position in shares of Northern Trust by 19.3% in the 1st quarter. Invesco Ltd. now owns 3,443,599 shares of the asset manager’s stock worth $339,711,000 after buying an additional 558,287 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Northern Trust by 0.7% in the 1st quarter. American Century Companies Inc. now owns 3,013,123 shares of the asset manager’s stock worth $297,245,000 after buying an additional 20,010 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Northern Trust by 47.8% in the 1st 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 acquiring an additional 585,992 shares during the last quarter. Finally, Confluence Investment Management LLC increased its holdings in Northern Trust by 6.6% during the 2nd quarter. Confluence Investment Management LLC now owns 1,184,610 shares of the asset manager’s stock valued at $150,197,000 after acquiring an additional 72,867 shares in the last quarter. 83.19% of the stock is owned by institutional investors and hedge funds.

Northern Trust Trading Down 0.3%

Shares of NTRS opened at $126.90 on Friday. Northern Trust Corporation has a fifty-two week low of $81.62 and a fifty-two week high of $135.48. The company has a market capitalization of $24.27 billion, a PE ratio of 14.79, a price-to-earnings-growth ratio of 1.37 and a beta of 1.31. The stock has a fifty day moving average of $129.55 and a two-hundred day moving average of $119.12. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.72 and a current ratio of 0.70.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings data on Wednesday, October 22nd. The asset manager reported $2.29 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.03. The business had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.02 billion. Northern Trust had a return on equity of 14.37% and a net margin of 11.99%.The business’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.22 earnings per share. As a group, analysts forecast that Northern Trust Corporation will post 8.27 EPS for the current year.

Northern Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 1st. Shareholders of record on Friday, December 5th will be issued a $0.80 dividend. The ex-dividend date is Friday, December 5th. This represents a $3.20 annualized dividend and a yield of 2.5%. Northern Trust’s payout ratio is 37.30%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on NTRS. Cowen reaffirmed a “buy” rating on shares of Northern Trust in a report on Thursday, October 23rd. BMO Capital Markets initiated coverage on 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. Truist Financial lowered their target price on Northern Trust from $142.00 to $139.00 and set a “hold” rating on the stock in a report on Thursday, October 23rd. Weiss Ratings reissued a “buy (b-)” rating on shares of Northern Trust in a report on Wednesday, October 8th. Finally, Morgan Stanley upped their price objective on Northern Trust from $110.00 to $131.00 and gave the company an “underweight” rating in a research report on Monday, September 29th. Five research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $130.71.

Insider Activity at Northern Trust

In related news, Director Robert Edward Jr. Moritz acquired 270 shares of the business’s stock in a transaction dated Monday, October 27th. The shares were acquired at an average cost of $126.66 per share, for a total transaction of $34,198.20. Following the acquisition, the director directly owned 2,795 shares in the company, valued at approximately $354,014.70. The trade was a 10.69% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.77% of the stock is currently owned by corporate insiders.

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.