Pallas Capital Advisors LLC Makes New Investment in Northern Trust Corporation $NTRS

Pallas Capital Advisors LLC acquired a new stake in Northern Trust Corporation (NASDAQ:NTRS) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 6,722 shares of the asset manager’s stock, valued at approximately $1,169,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Reflection Asset Management acquired a new stake in Northern Trust in the 4th quarter valued at $25,000. Triumph Capital Management acquired a new stake in shares of Northern Trust in the 3rd quarter valued at $25,000. Basecamp Wealth Advisors LLC grew its holdings in shares of 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 during the last quarter. Elyxium Wealth LLC acquired a new stake in shares of Northern Trust during the 4th quarter worth about $34,000. Finally, International Assets Investment Management LLC bought a new position in Northern Trust during the 4th quarter valued at about $35,000. Institutional investors own 83.19% of the company’s stock.

Analyst Ratings Changes

NTRS has been the topic of several research analyst reports. Truist Financial upped their price objective on shares of Northern Trust from $176.00 to $186.00 and gave the stock a “hold” rating in a research note on Friday, June 26th. Keefe, Bruyette & Woods increased their price target on Northern Trust from $157.00 to $175.00 and gave the stock an “underperform” rating in a research report on Thursday, July 9th. Morgan Stanley raised their price target on Northern Trust from $170.00 to $173.00 and gave the company an “underweight” rating in a report on Thursday, July 23rd. The Goldman Sachs Group boosted their price objective on Northern Trust from $151.00 to $169.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 22nd. Finally, UBS Group set a $186.00 target price on Northern Trust in a research note on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $180.68.

Insider Buying and Selling at Northern Trust

In other news, Director Robert Edward Jr. Moritz bought 255 shares of the company’s stock in a transaction dated Wednesday, July 29th. The stock was bought at an average price of $179.57 per share, for a total transaction 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. The trade was a 3.13% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.66% of the stock is currently owned by insiders.

Northern Trust Price Performance

NTRS opened at $190.58 on Wednesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.65 and a quick ratio of 0.65. The stock has a market capitalization of $34.87 billion, a P/E ratio of 16.36, a price-to-earnings-growth ratio of 1.08 and a beta of 1.25. The company’s 50 day simple moving average is $180.70 and its 200-day simple moving average is $162.65. Northern Trust Corporation has a one year low of $121.12 and a one year high of $195.78.

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

Northern Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 4th will be paid a $0.88 dividend. This is an increase 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 annualized dividend and a dividend yield of 1.8%. Northern Trust’s payout ratio is 27.47%.

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.