Heartland Advisors Inc. Invests $11.46 Million in Northern Trust Corporation $NTRS

Heartland Advisors Inc. bought a new position in shares of Northern Trust Corporation (NASDAQ:NTRS) in the second quarter, HoldingsChannel reports. The firm bought 65,924 shares of the asset manager’s stock, valued at approximately $11,460,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Reflection Asset Management purchased a new stake in Northern Trust in the 4th quarter worth $25,000. Triumph Capital Management bought a new stake in shares of Northern Trust in the third quarter worth about $25,000. Basecamp Wealth Advisors LLC lifted its position in shares of Northern Trust by 99.0% in the first quarter. Basecamp Wealth Advisors LLC now owns 203 shares of the asset manager’s stock worth $28,000 after buying an additional 101 shares in the last quarter. Keating Financial Advisory Services Inc. purchased a new stake in shares of Northern Trust in the second quarter worth about $31,000. Finally, Elyxium Wealth LLC bought a new position in Northern Trust during the fourth quarter valued at approximately $34,000. 83.19% of the stock is currently owned by institutional investors.

Insider Transactions at Northern Trust

In other Northern Trust news, Director Robert Edward Jr. Moritz bought 255 shares of the company’s stock in a transaction on Wednesday, July 29th. The stock was acquired at an average price of $179.57 per share, for a total transaction of $45,790.35. Following the completion of the transaction, the director directly owned 8,400 shares of the company’s stock, valued at approximately $1,508,388. This represents a 3.13% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.66% of the stock is currently owned by insiders.

Northern Trust Trading Up 0.8%

NTRS stock opened at $183.90 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.43. Northern Trust Corporation has a twelve month low of $121.12 and a twelve month high of $195.78. The stock has a market capitalization of $33.65 billion, a price-to-earnings ratio of 15.79, a price-to-earnings-growth ratio of 1.03 and a beta of 1.25. The firm’s fifty day simple moving average is $181.52 and its two-hundred day simple moving average is $163.27.

Northern Trust (NASDAQ:NTRS) last released its earnings results on Wednesday, July 22nd. The asset manager reported $4.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.71 by $1.52. Northern Trust had a net margin of 14.76% and a return on equity of 16.91%. The firm had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.69 billion. During the same quarter last year, the business earned $2.13 EPS. The business’s revenue was up 35.1% on a year-over-year basis. As a group, analysts anticipate that Northern Trust Corporation will post 11.59 earnings per share for the current year.

Northern Trust Increases Dividend

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

Analyst Ratings Changes

A number of analysts have issued reports on NTRS shares. JPMorgan Chase & Co. lifted their price objective on Northern Trust from $179.50 to $185.50 and gave the stock a “neutral” rating in a research note on Tuesday, August 4th. Barclays raised their target price on shares of Northern Trust from $176.00 to $189.00 and gave the company an “equal weight” rating in a report on Thursday, July 23rd. Wells Fargo & Company boosted their price target on shares of Northern Trust from $189.00 to $194.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 23rd. Truist Financial upped their price target 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. Finally, Evercore set a $179.00 price objective on shares of Northern Trust in a research note on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Northern Trust currently has an average rating of “Hold” and a consensus price target of $180.68.

Northern Trust 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.