First National Bank of Omaha Acquires Shares of 27,608 Northern Trust Corporation $NTRS

First National Bank of Omaha bought a new position in shares of Northern Trust Corporation (NASDAQ:NTRS) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 27,608 shares of the asset manager’s stock, valued at approximately $4,799,000.

A number of other institutional investors have also made changes to their positions in NTRS. Reflection Asset Management bought a new stake in Northern Trust in the 4th quarter valued at $25,000. Triumph Capital Management bought a new stake in shares of Northern Trust during the 3rd quarter worth about $25,000. Basecamp Wealth Advisors LLC boosted its holdings in shares of Northern Trust by 99.0% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 203 shares of the asset manager’s stock worth $28,000 after buying an additional 101 shares during the period. Elyxium Wealth LLC acquired a new position in Northern Trust in the 4th quarter valued at about $34,000. Finally, International Assets Investment Management LLC acquired a new position in Northern Trust in the 4th quarter valued at about $35,000. 83.19% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Keefe, Bruyette & Woods raised their price objective on shares of Northern Trust from $157.00 to $175.00 and gave the stock an “underperform” rating in a research report on Thursday, July 9th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Northern Trust in a research report on Friday, July 31st. JPMorgan Chase & Co. increased their target price on Northern Trust from $179.50 to $185.50 and gave the stock a “neutral” rating in a research note on Tuesday, August 4th. Citigroup lifted their price target on Northern Trust from $162.00 to $172.00 and gave the stock a “neutral” rating in a report on Tuesday, June 30th. Finally, Evercore set a $179.00 price target on Northern Trust in a research note on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $180.68.

Insider Buying and Selling

In related news, Director Robert Edward Jr. Moritz acquired 255 shares of the company’s stock in a transaction on Wednesday, July 29th. The stock was purchased at an average cost of $179.57 per share, with a total value of $45,790.35. Following the acquisition, the director directly owned 8,400 shares of the company’s stock, valued at approximately $1,508,388. The trade was a 3.13% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.66% of the stock is currently owned by company insiders.

Northern Trust Price Performance

Shares of Northern Trust stock opened at $190.58 on Wednesday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $34.87 billion, a price-to-earnings ratio of 16.36, a price-to-earnings-growth ratio of 1.08 and a beta of 1.25. Northern Trust Corporation has a twelve month low of $121.12 and a twelve month high of $195.78. The company has a 50-day simple moving average of $180.70 and a two-hundred day simple moving average of $162.65.

Northern Trust (NASDAQ:NTRS) last announced its 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. Northern Trust had a net margin of 14.76% and a return on equity of 16.91%. The firm had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.69 billion. During the same quarter in the prior year, the business posted $2.13 EPS. The business’s revenue was up 35.1% compared to the same quarter last year. Analysts forecast that Northern Trust Corporation will post 11.59 EPS for the current year.

Northern Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 4th will be given a dividend of $0.88 per share. This is an increase from Northern Trust’s previous quarterly dividend of $0.80. This represents a $3.52 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Friday, September 4th. Northern Trust’s dividend payout ratio (DPR) is currently 27.47%.

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.