6,722 Shares in Northern Trust Corporation $NTRS Purchased by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC acquired a new stake in shares of Northern Trust Corporation (NASDAQ:NTRS) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 6,722 shares of the asset manager’s stock, valued at approximately $1,169,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. CWM LLC boosted its position in Northern Trust by 122.6% during the 4th quarter. CWM LLC now owns 48,284 shares of the asset manager’s stock worth $6,595,000 after acquiring an additional 26,594 shares during the period. Concurrent Investment Advisors LLC purchased a new stake in shares of Northern Trust in the fourth quarter worth approximately $1,959,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of Northern Trust by 1,838.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 180,034 shares of the asset manager’s stock worth $22,793,000 after purchasing an additional 170,745 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Northern Trust by 5.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,894,755 shares of the asset manager’s stock worth $395,395,000 after purchasing an additional 161,826 shares during the period. Finally, PFA Pension Forsikringsaktieselskab purchased a new position in Northern Trust during the fourth quarter valued at approximately $67,126,000. 83.19% of the stock is currently owned by institutional investors.

Northern Trust Price Performance

Shares of NTRS opened at $190.58 on Wednesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.65 and a current ratio of 0.65. The firm has a market cap of $34.87 billion, a PE ratio of 16.36, a PEG ratio of 1.08 and a beta of 1.25. The firm’s 50 day moving average price is $180.70 and its 200 day moving average price is $162.65. Northern Trust Corporation has a twelve month low of $121.12 and a twelve month high of $195.78.

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

Northern Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 4th will be issued a $0.88 dividend. 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. This represents a $3.52 dividend on an annualized basis and a yield of 1.8%. Northern Trust’s payout ratio is currently 27.47%.

Insider Buying and Selling at Northern Trust

In other news, Director Robert Edward Jr. Moritz bought 255 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director directly owned 8,400 shares in the company, valued at $1,508,388. This represents a 3.13% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Barclays upped their price objective on shares of Northern Trust from $176.00 to $189.00 and gave the company an “equal weight” rating in a research note on Thursday, July 23rd. The Goldman Sachs Group boosted their price target on shares of Northern Trust from $151.00 to $169.00 and gave the company a “neutral” rating in a report on Wednesday, April 22nd. Bank of America upped their price target on shares of Northern Trust from $190.00 to $200.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. UBS Group set a $186.00 price objective on Northern Trust in a report on Friday, June 26th. Finally, Wells Fargo & Company lifted their price objective on Northern Trust from $189.00 to $194.00 and gave the company an “equal weight” rating in a research report on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $180.68.

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.