Elm3 Financial Group LLC Makes New $518,000 Investment in Northern Trust Corporation $NTRS

Elm3 Financial Group LLC acquired a new stake in Northern Trust Corporation (NASDAQ:NTRS) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 3,057 shares of the asset manager’s stock, valued at approximately $518,000.

Several other hedge funds have also modified their holdings of the company. Versant Capital Management Inc increased its position in shares of Northern Trust by 2.1% in the third quarter. Versant Capital Management Inc now owns 3,379 shares of the asset manager’s stock valued at $572,000 after buying an additional 70 shares in the last quarter. QRG Capital Management Inc. raised its position in Northern Trust by 3.8% during the second quarter. QRG Capital Management Inc. now owns 14,181 shares of the asset manager’s stock worth $2,465,000 after acquiring an additional 520 shares during the period. Envestnet Portfolio Solutions Inc. lifted its holdings in Northern Trust by 15.6% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 2,053 shares of the asset manager’s stock valued at $357,000 after purchasing an additional 277 shares in the last quarter. Sequoia Financial Advisors LLC grew its position in shares of Northern Trust by 5.3% in the second quarter. Sequoia Financial Advisors LLC now owns 22,309 shares of the asset manager’s stock valued at $3,878,000 after purchasing an additional 1,121 shares during the period. Finally, Tidal Investments LLC increased its stake in shares of Northern Trust by 9.6% during the second quarter. Tidal Investments LLC now owns 9,353 shares of the asset manager’s stock worth $1,626,000 after purchasing an additional 821 shares in the last quarter. 83.19% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Northern Trust

In other Northern Trust news, EVP Thomas South sold 1,800 shares of Northern Trust stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $184.90, for a total transaction of $332,820.00. Following the completion of the sale, the executive vice president directly owned 92,917 shares of the company’s stock, valued at $17,180,353.30. The trade was a 1.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robert Moritz, Jr. acquired 255 shares of the company’s stock in a transaction dated Wednesday, July 29th. The stock was acquired at an average price of $179.57 per share, for a total transaction of $45,790.35. Following the acquisition, the director owned 8,400 shares in the company, valued at approximately $1,508,388. The trade was a 3.13% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 0.66% of the company’s stock.

Analyst Upgrades and Downgrades

NTRS has been the topic of a number of research reports. Truist Financial raised their price target on shares of Northern Trust from $176.00 to $186.00 and gave the company a “hold” rating in a research note on Friday, June 26th. Bank of America increased their target price on Northern Trust from $190.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. JPMorgan Chase & Co. lowered their price target on Northern Trust from $185.50 to $185.00 and set a “neutral” rating on the stock in a research note on Friday, October 2nd. Royal Bank Of Canada downgraded Northern Trust from an “outperform” rating to a “sector perform” rating and set a $178.00 price objective for the company. in a research note on Wednesday, July 22nd. Finally, Citigroup lifted their target price on shares of Northern Trust from $182.00 to $186.00 and gave the stock a “neutral” rating in a research note on Monday. Four equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Northern Trust presently has a consensus rating of “Hold” and a consensus price target of $183.93.

Northern Trust Trading Down 0.8%

Shares of NTRS stock traded down $1.28 during trading on Wednesday, hitting $168.18. 1,083,508 shares of the stock traded hands, compared to its average volume of 1,083,415. The firm has a market capitalization of $30.77 billion, a P/E ratio of 14.44, a price-to-earnings-growth ratio of 0.96 and a beta of 1.24. Northern Trust Corporation has a 52-week low of $121.12 and a 52-week high of $195.78. 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 firm’s fifty day moving average price is $181.87 and its 200-day moving average price is $171.71.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings results on Wednesday, July 22nd. The asset manager reported $4.23 EPS for the quarter, beating the consensus estimate of $2.71 by $1.52. The business had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.69 billion. Northern Trust had a return on equity of 16.91% and a net margin of 14.76%.The company’s quarterly revenue was up 35.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.13 EPS. As a group, research analysts forecast that Northern Trust Corporation will post 11.64 earnings per share for the current fiscal year.

Northern Trust Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Friday, September 4th were given a dividend of $0.88 per share. This is a boost from Northern Trust’s previous quarterly dividend of $0.80. This represents a $3.52 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Friday, September 4th. Northern Trust’s dividend payout ratio is currently 30.21%.

Northern Trust Profile

Northern Trust Corporation is a financial services company headquartered in Chicago, Illinois. Founded in 1889, the company provides wealth management, asset servicing, asset management and banking services to corporations, institutions, affluent individuals and families, and financial professionals.

Through its wealth management business, Northern Trust offers investment management, financial planning, trust and estate services, private banking, and family office solutions. Its asset servicing and banking operations support institutional investors and businesses with custody, fund administration, securities lending, foreign exchange, treasury services, capital markets, and related banking solutions.

Northern Trust serves clients through operations in the United States and international markets, including Canada, Europe, the Middle East and the Asia-Pacific region.