United Capital Financial Advisors LLC Invests $7.07 Million in Northern Trust Corporation $NTRS

United Capital Financial Advisors LLC acquired a new position in shares of Northern Trust Corporation (NASDAQ:NTRS) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 40,661 shares of the asset manager’s stock, valued at approximately $7,068,000.

Several other institutional investors also recently bought and sold shares of the company. Empowered Funds LLC increased its position in shares of Northern Trust by 13.3% during the first quarter. Empowered Funds LLC now owns 20,112 shares of the asset manager’s stock worth $1,984,000 after purchasing an additional 2,363 shares in the last quarter. Woodline Partners LP increased its position in Northern Trust by 39.1% during the 1st quarter. Woodline Partners LP now owns 16,557 shares of the asset manager’s stock valued at $1,633,000 after buying an additional 4,653 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in Northern Trust by 79.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,350 shares of the asset manager’s stock valued at $171,000 after buying an additional 596 shares during the last quarter. WINTON GROUP Ltd acquired a new stake in Northern Trust in the second quarter worth about $267,000. Finally, Daiwa Securities Group Inc. boosted its holdings in Northern Trust by 4.6% in the second quarter. Daiwa Securities Group Inc. now owns 29,290 shares of the asset manager’s stock worth $3,714,000 after acquiring an additional 1,275 shares in the last quarter. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Northern Trust Price Performance

NASDAQ:NTRS opened at $186.27 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.65 and a quick ratio of 0.65. The company has a 50 day moving average price of $182.57 and a 200-day moving average price of $164.39. Northern Trust Corporation has a 1-year low of $121.12 and a 1-year high of $195.78. The firm has a market cap of $34.08 billion, a price-to-earnings ratio of 15.99, a price-to-earnings-growth ratio of 1.06 and a beta of 1.25.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings results on Wednesday, July 22nd. The asset manager reported $4.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.71 by $1.52. The firm had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.69 billion. Northern Trust had a net margin of 14.76% and a return on equity of 16.91%. The firm’s quarterly revenue was up 35.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.13 earnings per share. Equities research analysts forecast that Northern Trust Corporation will post 11.59 EPS for the current year.

Northern Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 4th will be paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, September 4th. This is an increase from Northern Trust’s previous quarterly dividend of $0.80. Northern Trust’s dividend payout ratio is currently 27.47%.

Analyst Ratings Changes

NTRS has been the topic of several recent analyst reports. Barclays upped their price objective on shares of Northern Trust from $176.00 to $189.00 and gave the company an “equal weight” rating in a report on Thursday, July 23rd. Morgan Stanley boosted their target price on shares of Northern Trust from $170.00 to $173.00 and gave the stock an “underweight” rating in a research report on Thursday, July 23rd. UBS Group set a $186.00 price target on shares of Northern Trust in a report on Friday, June 26th. Bank of America lifted their price objective on shares of Northern Trust from $190.00 to $200.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. Finally, Truist Financial upped their target price on Northern Trust from $176.00 to $186.00 and gave the company a “hold” rating in a research report on Friday, June 26th. Four research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Northern Trust presently has a consensus rating of “Hold” and an average price target of $180.68.

Insider Transactions at Northern Trust

In other Northern Trust news, Director Robert Edward Jr. Moritz purchased 255 shares of Northern Trust stock in a transaction that occurred on Wednesday, July 29th. The stock was bought at an average price of $179.57 per share, with a total value of $45,790.35. Following the acquisition, the director owned 8,400 shares of the company’s stock, valued at $1,508,388. This trade represents a 3.13% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Thomas A. South sold 1,800 shares of the stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $184.90, for a total value of $332,820.00. Following the transaction, the executive vice president owned 92,917 shares in the company, valued at $17,180,353.30. This represents a 1.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.66% of the stock is owned by company insiders.

Northern Trust Profile

Northern Trust Corporation (NASDAQ: NTRS) is a global financial services firm headquartered in Chicago that provides asset servicing, asset management and wealth management solutions to institutions, corporations and high-net-worth individuals. The company’s core businesses include custody and fund administration, investment operations outsourcing, trust and fiduciary services, private banking, and retirement and defined contribution plan services.

Northern Trust’s product and service offerings span custody and fund accounting, portfolio and performance analytics, securities lending, cash management and foreign exchange, as well as discretionary and non-discretionary investment management.