Performance Wealth Partners LLC Buys New Shares in Northern Trust Corporation $NTRS

Performance Wealth Partners LLC bought a new position in shares of Northern Trust Corporation (NASDAQ:NTRS) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,771 shares of the asset manager’s stock, valued at approximately $656,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Reflection Asset Management bought a new stake in shares of Northern Trust during the 4th quarter worth $25,000. Triumph Capital Management acquired a new stake in shares of Northern Trust during the third quarter worth $25,000. Basecamp Wealth Advisors LLC raised its position in shares of Northern Trust by 99.0% during the first 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 period. Elyxium Wealth LLC purchased a new stake in shares of Northern Trust during the fourth quarter valued at $34,000. Finally, International Assets Investment Management LLC purchased a new stake in shares of Northern Trust during the fourth quarter valued at $35,000. Institutional investors and hedge funds own 83.19% of the company’s stock.

Insider Buying and Selling

In other news, Director Robert Edward Jr. Moritz purchased 255 shares of the company’s stock in a transaction dated Wednesday, July 29th. The shares were bought at an average price of $179.57 per share, with a total value 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. This trade represents a 3.13% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.66% of the stock is currently owned by company insiders.

Northern Trust Trading Up 0.0%

NASDAQ:NTRS opened at $191.47 on Tuesday. The company has a market capitalization of $35.03 billion, a P/E ratio of 16.44, a P/E/G ratio of 1.08 and a beta of 1.25. The stock’s 50 day moving average price is $180.30 and its 200 day moving average price is $162.36. 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 52 week low of $121.12 and a 52 week 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 (EPS) for the quarter, beating 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 business had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.69 billion. During the same quarter in the previous year, the business earned $2.13 EPS. Northern Trust’s quarterly revenue was up 35.1% compared to the same quarter last year. On average, research analysts forecast that Northern Trust Corporation will post 11.59 EPS for the current fiscal year.

Northern Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 4th will be given a dividend of $0.88 per share. The ex-dividend date of this dividend is Friday, September 4th. This is an increase from Northern Trust’s previous quarterly dividend of $0.80. This represents a $3.52 dividend on an annualized basis and a yield of 1.8%. Northern Trust’s dividend payout ratio (DPR) is currently 27.47%.

Analyst Upgrades and Downgrades

NTRS has been the topic of several recent analyst reports. 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 report on Wednesday, April 22nd. Barclays boosted their price target on shares of Northern Trust from $176.00 to $189.00 and gave the company an “equal weight” rating in a report on Thursday, July 23rd. Truist Financial upped their price target on shares of Northern Trust from $176.00 to $186.00 and gave the company a “hold” rating in a research report on Friday, June 26th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Northern Trust in a research note on Friday, July 31st. Finally, Morgan Stanley lifted their price objective on shares of 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 given a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $180.68.

About Northern Trust

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.