CX Institutional Has $176,000 Holdings in Northern Trust Corporation $NTRS

CX Institutional boosted its holdings in shares of Northern Trust Corporation (NASDAQ:NTRS) by 43.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,389 shares of the asset manager’s stock after buying an additional 420 shares during the quarter. CX Institutional’s holdings in Northern Trust were worth $176,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in NTRS. Continuum Advisory LLC boosted its stake in shares of Northern Trust by 5,340.0% in the first quarter. Continuum Advisory LLC now owns 272 shares of the asset manager’s stock valued at $27,000 after buying an additional 267 shares during the period. Zions Bancorporation National Association UT bought a new stake in Northern Trust during the first quarter worth $29,000. Harbor Investment Advisory LLC lifted its stake in Northern Trust by 68.4% during the second quarter. Harbor Investment Advisory LLC now owns 320 shares of the asset manager’s stock worth $41,000 after purchasing an additional 130 shares during the last quarter. Wayfinding Financial LLC bought a new stake in Northern Trust during the first quarter worth $35,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in Northern Trust during the first quarter worth $43,000. Institutional investors and hedge funds own 83.19% of the company’s stock.

Insider Transactions at Northern Trust

In related news, Director Robert Edward Jr. Moritz purchased 256 shares of the business’s stock in a transaction on Wednesday, August 13th. The stock was acquired at an average price of $126.34 per share, for a total transaction of $32,343.04. Following the purchase, the director owned 2,525 shares of the company’s stock, valued at approximately $319,008.50. This trade represents a 11.28% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.77% of the company’s stock.

Northern Trust Stock Performance

Shares of NTRS opened at $130.52 on Wednesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.72 and a quick ratio of 0.72. The stock has a 50-day moving average of $128.57 and a 200-day moving average of $112.80. The company has a market cap of $24.96 billion, a PE ratio of 15.34, a P/E/G ratio of 1.57 and a beta of 1.30. Northern Trust Corporation has a one year low of $81.62 and a one year high of $133.70.

Northern Trust (NASDAQ:NTRS) last issued its earnings results on Wednesday, July 23rd. The asset manager reported $2.13 EPS for the quarter, beating the consensus estimate of $2.08 by $0.05. The company had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.96 billion. Northern Trust had a return on equity of 14.06% and a net margin of 11.75%.The firm’s revenue for the quarter was down 26.4% compared to the same quarter last year. During the same period last year, the business posted $4.34 EPS. On average, equities research analysts predict that Northern Trust Corporation will post 8.27 EPS for the current fiscal year.

Northern Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 5th will be paid a dividend of $0.80 per share. This is an increase from Northern Trust’s previous quarterly dividend of $0.75. The ex-dividend date is Friday, September 5th. This represents a $3.20 dividend on an annualized basis and a yield of 2.5%. Northern Trust’s dividend payout ratio (DPR) is presently 37.60%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on NTRS. Morgan Stanley increased their price target on Northern Trust from $103.00 to $106.00 and gave the company an “underweight” rating in a research note on Tuesday, July 1st. Zacks Research cut Northern Trust from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 9th. Barclays increased their price target on Northern Trust from $128.00 to $136.00 and gave the company an “equal weight” rating in a research note on Thursday, July 24th. Citigroup increased their price target on Northern Trust from $110.00 to $135.00 and gave the company a “neutral” rating in a research note on Friday, September 5th. Finally, Keefe, Bruyette & Woods reiterated an “underperform” rating and issued a $118.00 price target (down from $120.00) on shares of Northern Trust in a research note on Thursday, July 24th. Two investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $119.58.

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.