Vestor Capital LLC Increases Holdings in Northern Trust Corporation $NTRS

Vestor Capital LLC raised its holdings in shares of Northern Trust Corporation (NASDAQ:NTRS) by 131.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,496 shares of the asset manager’s stock after purchasing an additional 3,685 shares during the period. Vestor Capital LLC’s holdings in Northern Trust were worth $907,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. State Street Corp raised its holdings in shares of Northern Trust by 1.0% during the third quarter. State Street Corp now owns 9,493,634 shares of the asset manager’s stock valued at $1,285,236,000 after acquiring an additional 97,584 shares in the last quarter. Invesco Ltd. increased its position in Northern Trust by 8.7% during the 4th quarter. Invesco Ltd. now owns 3,747,840 shares of the asset manager’s stock valued at $511,917,000 after purchasing an additional 301,164 shares during the period. Goldman Sachs Group Inc. increased its position in Northern Trust by 5.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,894,755 shares of the asset manager’s stock valued at $395,395,000 after purchasing an additional 161,826 shares during the period. Dimensional Fund Advisors LP raised its holdings in Northern Trust by 1.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,455,996 shares of the asset manager’s stock worth $342,744,000 after purchasing an additional 36,322 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Northern Trust by 4.3% in the 1st quarter. Bank of New York Mellon Corp now owns 2,036,137 shares of the asset manager’s stock worth $284,184,000 after purchasing an additional 83,117 shares in the last quarter. 83.19% of the stock is currently owned by institutional investors.

Northern Trust Trading Up 2.7%

Shares of NASDAQ NTRS opened at $182.51 on Friday. Northern Trust Corporation has a 1 year low of $121.12 and a 1 year high of $191.60. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.65 and a quick ratio of 0.62. The firm has a 50-day moving average of $176.01 and a 200 day moving average of $159.01. The stock has a market cap of $33.77 billion, a P/E ratio of 15.67, a price-to-earnings-growth ratio of 1.00 and a beta of 1.25.

Northern Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 4th will be given a $0.88 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.9%. This is an increase from Northern Trust’s previous quarterly dividend of $0.80. Northern Trust’s payout ratio is presently 30.21%.

Insider Activity at Northern Trust

In related news, Director Robert Edward Jr. Moritz purchased 255 shares of the business’s stock in a transaction that occurred on Wednesday, July 29th. The shares were bought at an average price of $179.57 per share, for a total transaction of $45,790.35. Following the purchase, 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 position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.66% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Morgan Stanley lifted their target price on shares of Northern Trust from $170.00 to $173.00 and gave the company an “underweight” rating in a research note on Thursday, July 23rd. Barclays raised their price objective on shares of Northern Trust from $176.00 to $189.00 and gave the stock an “equal weight” rating in a report on Thursday, July 23rd. Zacks Research raised Northern Trust from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. BMO Capital Markets upgraded Northern Trust from a “market perform” rating to an “outperform” rating and set a $168.00 target price on the stock in a report on Monday, April 6th. Finally, Truist Financial increased their target price on Northern Trust from $176.00 to $186.00 and gave the stock a “hold” rating in a research report on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Northern Trust presently has a consensus rating of “Hold” and a consensus target price of $180.25.

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.