Dearborn Partners LLC Invests $1.59 Million in Northern Trust Corporation $NTRS

Dearborn Partners LLC purchased a new stake in Northern Trust Corporation (NASDAQ:NTRS) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 9,145 shares of the asset manager’s stock, valued at approximately $1,590,000.

Other large investors have also added to or reduced their stakes in the company. Triumph Capital Management bought a new stake in shares of Northern Trust during the 3rd quarter valued at $25,000. Reflection Asset Management bought a new position in shares of Northern Trust in the fourth quarter worth $25,000. Basecamp Wealth Advisors LLC raised its stake in Northern Trust by 99.0% in the first quarter. Basecamp Wealth Advisors LLC now owns 203 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 101 shares in the last quarter. Keating Financial Advisory Services Inc. bought a new stake in Northern Trust during the second quarter worth about $31,000. Finally, Elyxium Wealth LLC acquired a new stake in Northern Trust during the fourth quarter worth about $34,000. Institutional investors and hedge funds own 83.19% of the company’s stock.

Analysts Set New Price Targets

NTRS has been the topic of several recent analyst reports. Citigroup raised their target price on shares of Northern Trust from $162.00 to $172.00 and gave the company a “neutral” rating in a report on Tuesday, June 30th. Royal Bank Of Canada lowered shares of Northern Trust from an “outperform” rating to a “sector perform” rating and set a $178.00 price target on the stock. in a research report on Wednesday, July 22nd. Keefe, Bruyette & Woods lifted their price objective on shares of Northern Trust from $157.00 to $175.00 and gave the company an “underperform” rating in a research note on Thursday, July 9th. Morgan Stanley boosted their price objective on shares of Northern Trust from $170.00 to $173.00 and gave the company an “underweight” rating in a research report on Thursday, July 23rd. Finally, Bank of America upped their target price on Northern Trust from $190.00 to $200.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. Four equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Northern Trust currently has an average rating of “Hold” and a consensus target price of $180.68.

Insider Transactions at Northern Trust

In other Northern Trust news, EVP Thomas A. South sold 1,800 shares of the stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $184.90, for a total value of $332,820.00. Following the completion of the transaction, the executive vice president directly owned 92,917 shares in the company, valued at approximately $17,180,353.30. This trade represents a 1.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert Edward Jr. Moritz purchased 255 shares of the business’s stock in a transaction dated Wednesday, July 29th. The shares were purchased at an average cost of $179.57 per share, for a total transaction of $45,790.35. Following the completion of the purchase, the director directly owned 8,400 shares of the company’s stock, valued at approximately $1,508,388. This represents a 3.13% increase in their position. The SEC filing for this purchase provides additional information. 0.66% of the stock is owned by corporate insiders.

Northern Trust Price Performance

Shares of NASDAQ:NTRS opened at $186.27 on Friday. Northern Trust Corporation has a one year low of $121.12 and a one year high of $195.78. 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 market cap of $34.08 billion, a price-to-earnings ratio of 15.99, a PEG ratio of 1.06 and a beta of 1.25. The firm has a 50 day simple moving average of $182.57 and a 200 day simple moving average of $164.39.

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 the consensus estimate of $2.71 by $1.52. Northern Trust had a net margin of 14.76% and a return on equity of 16.91%. The company had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.69 billion. During the same period in the prior year, the business earned $2.13 earnings per share. The company’s revenue for the quarter was up 35.1% compared to the same quarter last year. Research analysts predict that Northern Trust Corporation will post 11.59 earnings per share for the current fiscal year.

Northern Trust Increases Dividend

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

About Northern Trust

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.