Northern Trust Corporation $NTRS Stock: Signal Advisors Wealth LLC Grows Stake

Signal Advisors Wealth LLC increased its position in shares of Northern Trust Corporation (NASDAQ:NTRS) by 26.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,444 shares of the asset manager’s stock after acquiring an additional 5,457 shares during the quarter. Signal Advisors Wealth LLC’s holdings in Northern Trust were worth $4,479,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Contravisory Investment Management Inc. increased its position in Northern Trust by 27.2% in the third quarter. Contravisory Investment Management Inc. now owns 8,175 shares of the asset manager’s stock worth $1,385,000 after purchasing an additional 1,746 shares during the period. NorthCrest Asset Manangement LLC lifted its position in Northern Trust by 12.6% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 6,662 shares of the asset manager’s stock valued at $1,123,000 after purchasing an additional 746 shares during the period. Wedmont Private Capital lifted its position in Northern Trust by 21.9% during the 3rd quarter. Wedmont Private Capital now owns 2,595 shares of the asset manager’s stock valued at $437,000 after purchasing an additional 466 shares during the period. GAMMA Investing LLC lifted its position in Northern Trust by 6.1% during the 3rd quarter. GAMMA Investing LLC now owns 8,999 shares of the asset manager’s stock valued at $1,524,000 after purchasing an additional 520 shares during the period. Finally, Farther Finance Advisors LLC boosted its stake in shares of Northern Trust by 14.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 5,063 shares of the asset manager’s stock valued at $857,000 after purchasing an additional 643 shares during the last quarter. Institutional investors own 83.19% of the company’s stock.

Northern Trust Stock Down 1.0%

Shares of Northern Trust stock opened at $167.48 on Wednesday. The business has a fifty day simple moving average of $180.75 and a 200 day simple moving average of $172.56. The stock has a market cap of $30.64 billion, a PE ratio of 14.38, a price-to-earnings-growth ratio of 0.96 and a beta of 1.24. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.43. 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 earnings results on Wednesday, July 22nd. The asset manager reported $4.23 earnings per share 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 firm had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.69 billion. During the same quarter in the prior year, the firm posted $2.13 earnings per share. The company’s quarterly revenue was up 35.1% on a year-over-year basis. Research analysts predict that Northern Trust Corporation will post 11.65 EPS for the current year.

Northern Trust Increases Dividend

The business also recently announced 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 represents a $3.52 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Friday, September 4th. This is an increase from Northern Trust’s previous quarterly dividend of $0.80. Northern Trust’s dividend payout ratio is presently 30.21%.

Wall Street Analysts Forecast Growth

NTRS has been the subject of several analyst reports. Morgan Stanley lifted their price target 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. Truist Financial boosted their price target on shares of Northern Trust from $176.00 to $186.00 and gave the stock a “hold” rating in a research note on Friday, June 26th. Keefe, Bruyette & Woods increased their price objective on shares of Northern Trust from $157.00 to $175.00 and gave the company an “underperform” rating in a report on Thursday, July 9th. Royal Bank Of Canada cut shares of Northern Trust from an “outperform” rating to a “sector perform” rating and set a $178.00 price objective on the stock. in a research note on Wednesday, July 22nd. Finally, BMO Capital Markets reduced their price objective on shares of Northern Trust from $208.00 to $190.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 6th. Three analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Northern Trust has a consensus rating of “Hold” and an average price target of $183.93.

Insider Transactions at Northern Trust

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

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.