30,000 Shares in Northern Trust Corporation $NTRS Bought by Global Frontier Investments LLC

Global Frontier Investments LLC purchased a new stake in Northern Trust Corporation (NASDAQ:NTRS) during the 2nd quarter, Holdings Channel.com reports. The firm purchased 30,000 shares of the asset manager’s stock, valued at approximately $3,804,000. Northern Trust accounts for 0.9% of Global Frontier Investments LLC’s investment portfolio, making the stock its 15th largest holding.

Several other institutional investors and hedge funds also recently modified their holdings of NTRS. FNY Investment Advisers LLC acquired a new stake in Northern Trust in the 2nd quarter valued at approximately $25,000. AlphaCore Capital LLC grew its stake in shares of Northern Trust by 87.4% during the 2nd quarter. AlphaCore Capital LLC now owns 208 shares of the asset manager’s stock worth $27,000 after acquiring an additional 97 shares in the last quarter. Hantz Financial Services Inc. raised its holdings in shares of Northern Trust by 5,225.0% in the second quarter. Hantz Financial Services Inc. now owns 213 shares of the asset manager’s stock valued at $27,000 after purchasing an additional 209 shares during the last quarter. Clearstead Trust LLC bought a new stake in shares of Northern Trust in the second quarter worth $29,000. Finally, GFG Capital LLC acquired a new position in Northern Trust during the second quarter worth $35,000. 83.19% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Robert Edward Jr. Moritz purchased 3,891 shares of the company’s stock in a transaction that occurred on Tuesday, November 4th. The stock was acquired at an average cost of $128.57 per share, with a total value of $500,265.87. Following the acquisition, the director owned 6,686 shares in the company, valued at approximately $859,619.02. This trade represents a 139.21% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Susan Cohen Levy sold 27,591 shares of the company’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $128.13, for a total value of $3,535,234.83. Following the completion of the transaction, the executive vice president directly owned 48,257 shares in the company, valued at approximately $6,183,169.41. This represents a 36.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.77% of the stock is currently owned by insiders.

Northern Trust Price Performance

Shares of NTRS opened at $131.34 on Monday. The company’s 50-day moving average is $128.94 and its 200-day moving average is $124.46. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.70 and a quick ratio of 0.72. The firm has a market capitalization of $24.84 billion, a PE ratio of 15.31, a PEG ratio of 1.37 and a beta of 1.32. Northern Trust Corporation has a fifty-two week low of $81.62 and a fifty-two week high of $135.48.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings results on Wednesday, October 22nd. The asset manager reported $2.29 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.03. The business had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.02 billion. Northern Trust had a net margin of 11.99% and a return on equity of 14.37%. Northern Trust’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.22 EPS. Equities analysts forecast that Northern Trust Corporation will post 8.27 EPS for the current year.

Northern Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 1st. Stockholders of record on Friday, December 5th will be paid a dividend of $0.80 per share. The ex-dividend date is Friday, December 5th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.4%. Northern Trust’s dividend payout ratio (DPR) is 37.30%.

Analyst Ratings Changes

Several equities research analysts have commented on NTRS shares. TD Cowen boosted their price target on shares of Northern Trust from $152.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday, October 23rd. Citigroup upped their target price on Northern Trust from $110.00 to $135.00 and gave the stock a “neutral” rating in a report on Friday, September 5th. Weiss Ratings restated a “buy (b-)” rating on shares of Northern Trust in a research note on Wednesday, October 8th. Wells Fargo & Company upped their price objective on Northern Trust from $127.00 to $131.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 23rd. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Northern Trust from $123.00 to $125.00 and gave the stock an “underperform” rating in a report on Thursday, October 23rd. Five equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Northern Trust presently has an average rating of “Hold” and a consensus price target of $132.46.

About Northern Trust

Northern Trust Corporation, a financial holding company, provides wealth management, asset servicing, asset management, and banking solutions for corporations, institutions, families, and individuals worldwide. It operates in two segments, Asset Servicing and Wealth Management. The Asset Servicing segment offers asset servicing and related services, including custody, fund administration, investment operations outsourcing, investment management, investment risk and analytical services, employee benefit services, securities lending, foreign exchange, treasury management, brokerage services, transition management services, banking, and cash management services.