SummitTX Capital L.P. Makes New $481,000 Investment in Northern Trust Corporation $NTRS

SummitTX Capital L.P. purchased a new position in shares of Northern Trust Corporation (NASDAQ:NTRS) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 3,444 shares of the asset manager’s stock, valued at approximately $481,000.

Several other institutional investors and hedge funds have also modified their holdings of NTRS. Reflection Asset Management acquired a new stake in Northern Trust during the fourth quarter worth approximately $25,000. Triumph Capital Management acquired a new position in Northern Trust in the 3rd quarter valued at $25,000. Elyxium Wealth LLC acquired a new position in Northern Trust in the 4th quarter valued at $34,000. International Assets Investment Management LLC purchased a new position in shares of Northern Trust during the 4th quarter worth $35,000. Finally, Transamerica Financial Advisors LLC lifted its stake in shares of Northern Trust by 54.1% during the 4th quarter. Transamerica Financial Advisors LLC now owns 265 shares of the asset manager’s stock worth $36,000 after purchasing an additional 93 shares during the period. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on NTRS. Zacks Research raised Northern Trust from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. UBS Group set a $186.00 target price on Northern Trust in a research report on Friday, June 26th. 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 note on Monday, April 6th. Keefe, Bruyette & Woods lifted their price target on Northern Trust from $157.00 to $175.00 and gave the company an “underperform” rating in a report on Thursday, July 9th. Finally, Truist Financial upped their price objective on shares of Northern Trust from $176.00 to $186.00 and gave the company a “hold” rating in a research note on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $180.25.

Insider Activity

In other news, Director Robert Edward Jr. Moritz acquired 255 shares of the company’s stock in a transaction dated Wednesday, July 29th. The shares were bought at an average price 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 trade represents a 3.13% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.66% of the stock is owned by corporate insiders.

Northern Trust Stock Down 0.2%

Shares of Northern Trust stock opened at $182.19 on Friday. Northern Trust Corporation has a twelve month low of $121.12 and a twelve month high of $191.60. The stock has a market cap of $33.71 billion, a price-to-earnings ratio of 15.64, a price-to-earnings-growth ratio of 1.03 and a beta of 1.25. The company has a current ratio of 0.65, a quick ratio of 0.62 and a debt-to-equity ratio of 0.43. The company has a fifty day moving average price of $176.30 and a 200 day moving average price of $159.17.

Northern Trust Increases Dividend

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

Northern Trust Company Profile

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.