First Pacific Financial Makes New Investment in Northern Trust Corporation $NTRS

First Pacific Financial acquired a new stake in Northern Trust Corporation (NASDAQ:NTRS) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 24,590 shares of the asset manager’s stock, valued at approximately $3,118,000.

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

Insider Buying and Selling

In other news, Director Robert Edward Jr. Moritz purchased 256 shares of the business’s stock in a transaction on Wednesday, August 13th. The stock was purchased at an average cost of $126.34 per share, with a total value of $32,343.04. Following the acquisition, the director directly owned 2,525 shares in the company, valued at approximately $319,008.50. This trade represents a 11.28% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.77% of the stock is currently owned by insiders.

Northern Trust Price Performance

Shares of NASDAQ NTRS opened at $134.60 on Wednesday. Northern Trust Corporation has a fifty-two week low of $81.62 and a fifty-two week high of $135.48. The stock has a market cap of $25.74 billion, a price-to-earnings ratio of 15.82, a PEG ratio of 1.59 and a beta of 1.30. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.72 and a current ratio of 0.72. The firm’s 50-day simple moving average is $129.18 and its 200 day simple moving average is $113.99.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings results on Wednesday, July 23rd. The asset manager reported $2.13 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.05. The business had revenue of $2 billion for the quarter, compared to analysts’ expectations 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 quarter last year, the firm 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 disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 5th will be paid a $0.80 dividend. The ex-dividend date is Friday, September 5th. This represents a $3.20 dividend on an annualized basis and a yield of 2.4%. This is a positive change from Northern Trust’s previous quarterly dividend of $0.75. Northern Trust’s dividend payout ratio (DPR) is presently 37.60%.

Wall Street Analyst Weigh In

NTRS has been the subject of several recent analyst reports. The Goldman Sachs Group set a $135.00 target price on Northern Trust in a research note on Tuesday. Morgan Stanley lifted their target price on Northern Trust from $110.00 to $131.00 and gave the stock an “underweight” rating in a report on Monday. Wall Street Zen upgraded Northern Trust from a “sell” rating to a “hold” rating in a report on Friday, September 26th. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and issued a $118.00 target price (down previously from $120.00) on shares of Northern Trust in a research report on Thursday, July 24th. Finally, Barclays boosted their price target on Northern Trust from $128.00 to $136.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 24th. Three research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $125.67.

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.