GAMMA Investing LLC Raises Stock Position in Northern Trust Corporation $NTRS

GAMMA Investing LLC grew its holdings in Northern Trust Corporation (NASDAQ:NTRS) by 24.4% during the second quarter, HoldingsChannel.com reports. The fund owned 5,620 shares of the asset manager’s stock after purchasing an additional 1,103 shares during the quarter. GAMMA Investing LLC’s holdings in Northern Trust were worth $713,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Continuum Advisory LLC raised its stake in shares of Northern Trust by 5,340.0% in the 1st quarter. Continuum Advisory LLC now owns 272 shares of the asset manager’s stock valued at $27,000 after acquiring an additional 267 shares during the period. Zions Bancorporation National Association UT purchased a new position in shares of Northern Trust in the 1st quarter valued at $29,000. Harbor Investment Advisory LLC raised its stake in shares of Northern Trust by 68.4% in the 2nd quarter. Harbor Investment Advisory LLC now owns 320 shares of the asset manager’s stock valued at $41,000 after acquiring an additional 130 shares during the period. Wayfinding Financial LLC purchased a new position in shares of Northern Trust in the 1st quarter valued at $35,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in Northern Trust during the 1st quarter valued at $43,000. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Insider Activity at Northern Trust

In other Northern Trust news, Director Robert Edward Jr. Moritz purchased 256 shares of the firm’s stock in a transaction dated Wednesday, August 13th. The stock was acquired at an average cost of $126.34 per share, with a total value of $32,343.04. Following the acquisition, the director owned 2,525 shares of the company’s stock, valued at approximately $319,008.50. This represents a 11.28% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.77% of the company’s stock.

Northern Trust Price Performance

Shares of NTRS stock opened at $129.51 on Thursday. The firm has a market cap of $24.77 billion, a P/E ratio of 15.22, a P/E/G ratio of 1.55 and a beta of 1.30. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.72 and a quick ratio of 0.72. Northern Trust Corporation has a 1-year low of $81.62 and a 1-year high of $133.70. The firm has a fifty day moving average of $128.66 and a two-hundred day moving average of $112.92.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings data on Wednesday, July 23rd. The asset manager reported $2.13 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.05. The company had revenue of $2 billion during the quarter, compared to analyst estimates of $1.96 billion. Northern Trust had a net margin of 11.75% and a return on equity of 14.06%. 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 earned $4.34 EPS. As a group, research analysts anticipate that Northern Trust Corporation will post 8.27 earnings per share for the current fiscal year.

Northern Trust Increases Dividend

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

Analysts Set New Price Targets

NTRS has been the subject of a number of recent analyst reports. Citigroup raised their price target on shares of Northern Trust from $110.00 to $135.00 and gave the company a “neutral” rating in a report on Friday, September 5th. Morgan Stanley raised their price target on shares of Northern Trust from $103.00 to $106.00 and gave the company an “underweight” rating in a report on Tuesday, July 1st. Truist Financial raised their price target on shares of Northern Trust from $128.00 to $132.00 and gave the company a “hold” rating in a report on Thursday, August 14th. Zacks Research lowered shares of Northern Trust from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 9th. Finally, Wolfe Research raised shares of Northern Trust from an “underperform” rating to a “peer perform” rating in a report on Thursday, July 24th. Two research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $119.58.

About Northern Trust

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.