CFO4Life Group LLC Takes $1.01 Million Position in Northern Trust Corporation $NTRS

CFO4Life Group LLC purchased a new position in shares of Northern Trust Corporation (NASDAQ:NTRS) during the second quarter, Holdings Channel reports. The institutional investor purchased 5,803 shares of the asset manager’s stock, valued at approximately $1,009,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Concurrent Investment Advisors LLC bought a new position in Northern Trust during the fourth quarter valued at about $1,959,000. Northwestern Mutual Wealth Management Co. increased its holdings in Northern Trust by 1,838.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 180,034 shares of the asset manager’s stock worth $22,793,000 after buying an additional 170,745 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Northern Trust by 5.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,894,755 shares of the asset manager’s stock worth $395,395,000 after acquiring an additional 161,826 shares during the period. PFA Pension Forsikringsaktieselskab bought a new stake in Northern Trust in the fourth quarter worth about $67,126,000. Finally, Strs Ohio boosted its stake in Northern Trust by 83.0% in the fourth quarter. Strs Ohio now owns 136,403 shares of the asset manager’s stock valued at $18,631,000 after acquiring an additional 61,858 shares during the last quarter. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Analyst Ratings Changes

NTRS has been the subject of a number of research reports. Evercore set a $179.00 target price on shares of Northern Trust in a research report on Monday, July 6th. Morgan Stanley lifted their price target on shares of Northern Trust from $170.00 to $173.00 and gave the stock an “underweight” rating in a report on Thursday, July 23rd. Bank of America upped their price objective on Northern Trust from $190.00 to $200.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Truist Financial increased their price objective on Northern Trust from $176.00 to $186.00 and gave the company a “hold” rating in a report on Friday, June 26th. Finally, JPMorgan Chase & Co. boosted their target price on Northern Trust from $179.50 to $185.50 and gave the company a “neutral” rating in a research note on Tuesday, August 4th. One 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 given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $180.68.

Insider Transactions at Northern Trust

In other Northern Trust news, 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 price of $179.57 per share, with a total value of $45,790.35. Following the acquisition, the director directly owned 8,400 shares of the company’s stock, valued at $1,508,388. The trade was a 3.13% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.66% of the stock is owned by insiders.

Northern Trust Price Performance

Shares of NASDAQ:NTRS opened at $183.90 on Friday. The firm has a market capitalization of $33.65 billion, a PE ratio of 15.79, a P/E/G ratio of 1.04 and a beta of 1.25. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.43. The company has a 50-day moving average price of $181.52 and a two-hundred day moving average price of $163.27. 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 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. The company had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.69 billion. Northern Trust had a net margin of 14.76% and a return on equity of 16.91%. The company’s quarterly revenue was up 35.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.13 earnings per share. Equities analysts forecast that Northern Trust Corporation will post 11.59 EPS for the current 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. The ex-dividend date is Friday, September 4th. This represents a $3.52 dividend on an annualized basis and a yield of 1.9%. This is a positive change from Northern Trust’s previous quarterly dividend of $0.80. Northern Trust’s dividend payout ratio (DPR) is presently 27.47%.

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.