380,884 Shares in Northern Trust Corporation $NTRS Acquired by Corient Private Wealth LP

Corient Private Wealth LP acquired a new stake in Northern Trust Corporation (NASDAQ:NTRS) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 380,884 shares of the asset manager’s stock, valued at approximately $66,213,000. Corient Private Wealth LP owned approximately 0.21% of Northern Trust at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Reflection Asset Management bought a new stake in shares of Northern Trust in the fourth quarter valued at about $25,000. Triumph Capital Management bought a new position in Northern Trust during the third quarter worth about $25,000. Basecamp Wealth Advisors LLC raised its stake in Northern Trust by 99.0% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 203 shares of the asset manager’s stock worth $28,000 after purchasing an additional 101 shares in the last quarter. Keating Financial Advisory Services Inc. bought a new stake in Northern Trust in the 2nd quarter valued at about $31,000. Finally, Elyxium Wealth LLC bought a new stake in Northern Trust in the 4th quarter valued at about $34,000. Institutional investors own 83.19% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Royal Bank Of Canada cut shares of Northern Trust from an “outperform” rating to a “sector perform” rating and set a $178.00 target price on the stock. in a report on Wednesday, July 22nd. Weiss Ratings reissued a “buy (b)” rating on shares of Northern Trust in a research report on Friday, July 31st. Citigroup lifted their price objective on Northern Trust from $162.00 to $172.00 and gave the company a “neutral” rating in a report on Tuesday, June 30th. UBS Group set a $186.00 target price on Northern Trust in a report on Friday, June 26th. Finally, Evercore set a $179.00 price target on Northern Trust in a research report on Monday, July 6th. Four equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $180.68.

Northern Trust Stock Down 0.7%

NASDAQ NTRS opened at $186.27 on Friday. The business has a fifty day moving average price of $182.57 and a two-hundred day moving average price of $164.39. The stock has a market capitalization of $34.08 billion, a PE ratio of 15.99, a PEG ratio of 1.06 and a beta of 1.25. Northern Trust Corporation has a fifty-two week low of $121.12 and a fifty-two week high of $195.78. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.65 and a quick ratio of 0.65.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings results on Wednesday, July 22nd. The asset manager reported $4.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.71 by $1.52. Northern Trust had a return on equity of 16.91% and a net margin of 14.76%.The company had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.69 billion. During the same quarter last year, the company posted $2.13 EPS. The company’s revenue for the quarter was up 35.1% compared to the same quarter last year. Equities analysts expect that Northern Trust Corporation will post 11.59 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 Thursday, October 1st. Investors of record on Friday, September 4th will be paid a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.9%. This is a boost from Northern Trust’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Friday, September 4th. Northern Trust’s payout ratio is 27.47%.

Insider Transactions at Northern Trust

In other Northern Trust news, EVP Thomas A. South sold 1,800 shares of the business’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $184.90, for a total transaction of $332,820.00. Following the completion of the transaction, the executive vice president owned 92,917 shares of the company’s stock, valued at approximately $17,180,353.30. The trade was a 1.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert Edward Jr. Moritz bought 255 shares of the stock in a transaction on Wednesday, July 29th. The shares were acquired at an average cost of $179.57 per share, with a total value of $45,790.35. Following the purchase, the director owned 8,400 shares of the company’s stock, valued at approximately $1,508,388. This represents a 3.13% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 0.66% 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.