Soundwatch Capital LLC Takes Position in Northern Trust Corporation $NTRS

Soundwatch Capital LLC acquired a new position in shares of Northern Trust Corporation (NASDAQ:NTRS) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 254,019 shares of the asset manager’s stock, valued at approximately $32,207,000. Northern Trust accounts for about 0.1% of Soundwatch Capital LLC’s holdings, making the stock its 26th largest holding. Soundwatch Capital LLC owned about 0.13% of Northern Trust at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FNY Investment Advisers LLC bought a new position in shares of Northern Trust during the 2nd quarter worth approximately $25,000. Hantz Financial Services Inc. increased its stake in Northern Trust by 5,225.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 213 shares of the asset manager’s stock valued at $27,000 after buying an additional 209 shares during the last quarter. AlphaCore Capital LLC lifted its position in Northern Trust by 87.4% during the 2nd quarter. AlphaCore Capital LLC now owns 208 shares of the asset manager’s stock worth $27,000 after buying an additional 97 shares in the last quarter. Zions Bancorporation National Association UT acquired a new position in shares of Northern Trust during the 1st quarter worth about $29,000. Finally, Clearstead Trust LLC bought a new position in shares of Northern Trust in the 2nd quarter valued at about $29,000. Institutional investors and hedge funds own 83.19% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on NTRS shares. TD Cowen increased their price target on Northern Trust from $152.00 to $155.00 and gave the company a “buy” rating in a research report on Thursday, October 23rd. Truist Financial cut their price target on shares of Northern Trust from $142.00 to $139.00 and set a “hold” rating for the company in a research note on Thursday, October 23rd. Wall Street Zen cut shares of Northern Trust from a “hold” rating to a “sell” rating in a report on Saturday, October 25th. Morgan Stanley lifted their price target on Northern Trust from $110.00 to $131.00 and gave the stock an “underweight” rating in a report on Monday, September 29th. Finally, Cowen restated a “buy” rating on shares of Northern Trust in a research note on Thursday, October 23rd. Five analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Northern Trust has a consensus rating of “Hold” and a consensus price target of $132.46.

Northern Trust Price Performance

Northern Trust stock opened at $127.13 on Friday. The company has a market capitalization of $24.04 billion, a price-to-earnings ratio of 14.82, a PEG ratio of 1.37 and a beta of 1.32. The stock’s 50 day moving average is $128.94 and its 200-day moving average is $123.35. The company has a current ratio of 0.70, a quick ratio of 0.72 and a debt-to-equity ratio of 0.58. Northern Trust Corporation has a 12 month low of $81.62 and a 12 month high of $135.48.

Northern Trust (NASDAQ:NTRS) last issued 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 firm had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.02 billion. Northern Trust had a return on equity of 14.37% and a net margin of 11.99%.The company’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period in the prior year, the firm posted $2.22 EPS. Equities research analysts expect 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. Investors of record on Friday, December 5th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Friday, December 5th. Northern Trust’s dividend payout ratio (DPR) is currently 37.30%.

Insiders Place Their Bets

In other news, EVP Susan Cohen Levy sold 27,591 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $128.13, for a total transaction of $3,535,234.83. Following the transaction, the executive vice president directly owned 48,257 shares of the company’s stock, valued at approximately $6,183,169.41. This trade represents a 36.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John Landers sold 766 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $124.35, for a total value of $95,252.10. Following the completion of the sale, the insider owned 7,313 shares of the company’s stock, valued at approximately $909,371.55. This trade represents a 9.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.77% of the company’s stock.

Northern Trust 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.