Citizens Financial Group Inc. RI Invests $790,000 in Northern Trust Corporation $NTRS

Citizens Financial Group Inc. RI purchased a new stake in shares of Northern Trust Corporation (NASDAQ:NTRS) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 4,524 shares of the asset manager’s stock, valued at approximately $790,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Reflection Asset Management purchased a new stake in shares of Northern Trust during the 4th quarter valued at $25,000. Triumph Capital Management purchased a new position in shares of Northern Trust in the 3rd quarter worth about $25,000. Basecamp Wealth Advisors LLC grew its position in Northern Trust by 99.0% during the first quarter. Basecamp Wealth Advisors LLC now owns 203 shares of the asset manager’s stock valued at $28,000 after buying an additional 101 shares during the period. Clearstead Trust LLC bought a new position in Northern Trust during the second quarter valued at about $37,000. Finally, Elyxium Wealth LLC purchased a new stake in Northern Trust during the fourth quarter worth about $34,000. 83.19% of the stock is currently owned by hedge funds and other institutional investors.

Northern Trust Stock Performance

NASDAQ NTRS opened at $190.58 on Wednesday. The firm has a market cap 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 has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.43. The company’s 50 day moving average is $180.70 and its 200-day moving average is $162.65. Northern Trust Corporation has a 12-month low of $121.12 and a 12-month high of $195.78.

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

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. This represents a $3.52 annualized dividend and a dividend yield of 1.8%. This is a boost from Northern Trust’s previous quarterly dividend of $0.80. The ex-dividend date is Friday, September 4th. Northern Trust’s dividend payout ratio (DPR) is presently 27.47%.

Insider Activity

In related news, Director Robert Edward Jr. Moritz bought 255 shares of the business’s stock in a transaction on 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 purchase, the director directly owned 8,400 shares in the company, valued at $1,508,388. This trade represents a 3.13% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Wells Fargo & Company boosted their target price on shares of Northern Trust from $189.00 to $194.00 and gave the company an “equal weight” rating in a research note on Thursday, July 23rd. Barclays raised their price target on shares of Northern Trust from $176.00 to $189.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 23rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Northern Trust in a report on Friday, July 31st. Keefe, Bruyette & Woods upped their price objective on Northern Trust from $157.00 to $175.00 and gave the company an “underperform” rating in a research note on Thursday, July 9th. Finally, JPMorgan Chase & Co. increased their price objective on Northern Trust from $179.50 to $185.50 and gave the company a “neutral” rating in a report on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average 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.