Cauble & Harre Wealth Management Inc. Makes New Investment in Northern Trust Corporation $NTRS

Cauble & Harre Wealth Management Inc. acquired a new stake in Northern Trust Corporation (NASDAQ:NTRS) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,961 shares of the asset manager’s stock, valued at approximately $517,000.

A number of other institutional investors and hedge funds have also made changes to their positions in NTRS. BlackRock Inc. purchased a new position in shares of Northern Trust during the 2nd quarter valued at approximately $2,523,781,000. Bank of New York Mellon Corp purchased a new stake in Northern Trust in the 2nd quarter worth $361,079,000. Norges Bank acquired a new position in Northern Trust during the fourth quarter worth $257,410,000. Eurizon Capital SGR S.p.A. acquired a new position in Northern Trust during the fourth quarter worth $126,794,000. Finally, Deutsche Bank AG purchased a new position in Northern Trust during the second quarter valued at $144,091,000. 83.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Robert Edward Jr. Moritz acquired 255 shares of the business’s stock in a transaction that occurred on Wednesday, July 29th. The stock was purchased at an average cost of $179.57 per share, for a total transaction of $45,790.35. Following the completion of the transaction, the director owned 8,400 shares in the company, valued at approximately $1,508,388. This trade represents a 3.13% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.66% of the company’s stock.

Northern Trust Stock Performance

Shares of Northern Trust stock opened at $183.90 on Friday. The business’s 50 day moving average price is $181.52 and its 200 day moving average price is $163.27. The company has a market cap of $33.65 billion, a price-to-earnings ratio of 15.79, a PEG ratio of 1.03 and a beta of 1.25. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.65 and a current ratio of 0.65. Northern Trust Corporation has a one year low of $121.12 and a one year high of $195.78.

Northern Trust (NASDAQ:NTRS) last issued its 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. Northern Trust had a return on equity of 16.91% and a net margin of 14.76%.The company had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.69 billion. During the same period in the prior year, the business earned $2.13 EPS. The firm’s quarterly revenue was up 35.1% on a year-over-year basis. On average, research analysts predict that Northern Trust Corporation will post 11.59 EPS for the current year.

Northern Trust Increases Dividend

The company 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 dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, September 4th. This is a positive change from Northern Trust’s previous quarterly dividend of $0.80. Northern Trust’s dividend payout ratio is presently 27.47%.

Analysts Set New Price Targets

A number of analysts have recently commented on NTRS shares. Evercore set a $179.00 target price on shares of Northern Trust in a research note on Monday, July 6th. Barclays raised their price target 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. Zacks Research upgraded Northern Trust from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th. Keefe, Bruyette & Woods boosted their price objective on Northern Trust from $157.00 to $175.00 and gave the stock an “underperform” rating in a research note on Thursday, July 9th. Finally, Morgan Stanley increased their target price on Northern Trust from $170.00 to $173.00 and gave the company an “underweight” rating in a report on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $180.68.

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.