Northern Trust (NASDAQ:NTRS) Director Robert Edward Jr. Moritz Acquires 255 Shares

Northern Trust Corporation (NASDAQ:NTRS) Director Robert Edward Jr. Moritz acquired 255 shares of the company’s stock in a transaction dated Wednesday, July 29th. The shares were purchased at an average price of $179.57 per share, with a total value of $45,790.35. Following the completion of the acquisition, the director owned 8,400 shares in the company, valued at approximately $1,508,388. The trade was a 3.13% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

Robert Edward Jr. Moritz also recently made the following trade(s):

• On Friday, May 1st, Robert Edward Jr. Moritz purchased 225 shares of Northern Trust stock. The shares were purchased at an average price of $166.41 per share, with a total value of $37,442.25.

Northern Trust Price Performance

NTRS opened at $182.51 on Friday. Northern Trust Corporation has a 52-week low of $121.12 and a 52-week high of $191.60. The company has a 50 day moving average of $176.01 and a two-hundred day moving average of $159.01. The company has a market cap of $33.77 billion, a P/E ratio of 15.67, a P/E/G ratio of 1.00 and a beta of 1.25. The company has a quick ratio of 0.62, a current ratio of 0.65 and a debt-to-equity ratio of 0.43.

Northern Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 4th will be paid a dividend of $0.88 per share. This is a boost from Northern Trust’s previous quarterly dividend of $0.80. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Friday, September 4th. Northern Trust’s payout ratio is presently 30.21%.

Analysts Set New Price Targets

Several equities analysts recently commented on NTRS shares. BMO Capital Markets raised Northern Trust from a “market perform” rating to an “outperform” rating and set a $168.00 price target on the stock in a research report on Monday, April 6th. Evercore set a $179.00 price objective on shares of Northern Trust in a research report on Monday, July 6th. UBS Group set a $186.00 target price on shares of Northern Trust in a research report on Friday, June 26th. Zacks Research upgraded shares of Northern Trust from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. Finally, Wells Fargo & Company raised their price target on shares of Northern Trust from $189.00 to $194.00 and gave the company an “equal weight” rating in a report on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $180.25.

Institutional Investors Weigh In On Northern Trust

Hedge funds and other institutional investors have recently modified their holdings of the stock. Ballast Inc. raised its stake in Northern Trust by 12.8% during the second quarter. Ballast Inc. now owns 13,290 shares of the asset manager’s stock valued at $2,310,000 after buying an additional 1,507 shares in the last quarter. Tema ETFs LLC increased its holdings in shares of Northern Trust by 10.1% in the 2nd quarter. Tema ETFs LLC now owns 3,174 shares of the asset manager’s stock valued at $552,000 after acquiring an additional 290 shares during the last quarter. Fiduciary Financial Group LLC acquired a new stake in shares of Northern Trust during the 2nd quarter valued at approximately $246,000. Czech National Bank lifted its stake in Northern Trust by 3.8% during the second quarter. Czech National Bank now owns 52,671 shares of the asset manager’s stock worth $9,156,000 after purchasing an additional 1,923 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in Northern Trust by 7.8% in the second quarter. Assenagon Asset Management S.A. now owns 3,728 shares of the asset manager’s stock worth $648,000 after purchasing an additional 270 shares during the period. Institutional investors own 83.19% of the company’s stock.

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.