Bull Harbor Capital LLC Takes Position in Northern Trust Corporation $NTRS

Bull Harbor Capital LLC purchased a new stake in Northern Trust Corporation (NASDAQ:NTRS) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 6,993 shares of the asset manager’s stock, valued at approximately $976,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NTRS. Reflection Asset Management acquired a new position in Northern Trust during the fourth quarter worth $25,000. Triumph Capital Management acquired a new stake in shares of Northern Trust in the third quarter valued at about $25,000. Elyxium Wealth LLC acquired a new stake in shares of Northern Trust in the fourth quarter valued at about $34,000. International Assets Investment Management LLC purchased a new stake in shares of Northern Trust during the fourth quarter worth about $35,000. Finally, Transamerica Financial Advisors LLC raised its position in shares of Northern Trust by 54.1% during the 4th quarter. Transamerica Financial Advisors LLC now owns 265 shares of the asset manager’s stock worth $36,000 after purchasing an additional 93 shares during the last quarter. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on NTRS shares. The Goldman Sachs Group raised their price target on shares of Northern Trust from $151.00 to $169.00 and gave the company a “neutral” rating in a research note on Wednesday, April 22nd. Zacks Research upgraded Northern Trust from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. UBS Group set a $186.00 target price on Northern Trust in a research report on Friday, June 26th. Barclays lifted their price target on Northern Trust from $176.00 to $189.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 23rd. Finally, Morgan Stanley boosted their price target on Northern Trust from $170.00 to $173.00 and gave the stock an “underweight” rating in a research report on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $180.25.

Insiders Place Their Bets

In other Northern Trust news, Director Robert Edward Jr. Moritz bought 225 shares of the business’s stock in a transaction on Friday, May 1st. The stock was bought at an average price of $166.41 per share, with a total value of $37,442.25. Following the completion of the purchase, the director directly owned 8,145 shares in the company, valued at $1,355,409.45. The trade was a 2.84% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.66% of the company’s stock.

Northern Trust Stock Performance

NASDAQ:NTRS opened at $177.65 on Thursday. The company’s 50-day moving average is $175.70 and its two-hundred day moving average is $158.75. 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 market capitalization of $32.87 billion, a price-to-earnings ratio of 15.25, a PEG ratio of 1.02 and a beta of 1.25.

Northern Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 4th will be given a $0.88 dividend. The ex-dividend date is Friday, September 4th. This is a positive change from Northern Trust’s previous quarterly dividend of $0.80. This represents a $3.52 annualized dividend and a yield of 2.0%. Northern Trust’s dividend payout ratio (DPR) is currently 27.47%.

Northern Trust Company 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.