Northern Trust Co. (NASDAQ:NTRS) Shares Purchased by CVA Family Office LLC

CVA Family Office LLC increased its stake in shares of Northern Trust Co. (NASDAQ:NTRSGet Rating) by 175.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 990 shares of the asset manager’s stock after purchasing an additional 630 shares during the quarter. CVA Family Office LLC’s holdings in Northern Trust were worth $96,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of NTRS. Delos Wealth Advisors LLC acquired a new stake in shares of Northern Trust during the fourth quarter worth $25,000. Covestor Ltd acquired a new stake in shares of Northern Trust during the fourth quarter worth $36,000. Atwood & Palmer Inc. lifted its holdings in shares of Northern Trust by 34.5% during the first quarter. Atwood & Palmer Inc. now owns 390 shares of the asset manager’s stock worth $46,000 after purchasing an additional 100 shares during the period. Denali Advisors LLC lifted its holdings in shares of Northern Trust by 66.7% during the first quarter. Denali Advisors LLC now owns 500 shares of the asset manager’s stock worth $58,000 after purchasing an additional 200 shares during the period. Finally, Parkside Investments LLC acquired a new stake in Northern Trust in the first quarter valued at $62,000. 83.59% of the stock is owned by institutional investors and hedge funds.

Northern Trust Stock Up 2.4 %

NTRS opened at $95.41 on Tuesday. 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 stock has a market capitalization of $19.88 billion, a price-to-earnings ratio of 12.69 and a beta of 1.12. The business has a 50-day moving average of $97.96 and a two-hundred day moving average of $103.70. Northern Trust Co. has a 12 month low of $89.68 and a 12 month high of $135.15.

Northern Trust (NASDAQ:NTRSGet Rating) last posted its quarterly earnings results on Wednesday, July 20th. The asset manager reported $1.86 EPS for the quarter, missing the consensus estimate of $1.93 by ($0.07). The business had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.77 billion. Northern Trust had a net margin of 23.13% and a return on equity of 14.82%. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.72 EPS. On average, research analysts expect that Northern Trust Co. will post 7.45 earnings per share for the current year.

Northern Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, October 1st. Shareholders of record on Friday, September 9th will be issued a $0.75 dividend. This is a boost from Northern Trust’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Thursday, September 8th. This represents a $3.00 annualized dividend and a yield of 3.14%. Northern Trust’s payout ratio is 40.87%.

Wall Street Analysts Forecast Growth

NTRS has been the subject of a number of recent analyst reports. Piper Sandler reduced their target price on Northern Trust from $141.00 to $121.00 and set an “overweight” rating for the company in a report on Friday, June 24th. JPMorgan Chase & Co. reduced their target price on Northern Trust from $115.00 to $107.50 in a report on Monday, July 11th. Royal Bank of Canada reduced their target price on Northern Trust from $133.00 to $110.00 and set an “outperform” rating for the company in a report on Friday, July 1st. Deutsche Bank Aktiengesellschaft raised their target price on Northern Trust from $112.00 to $123.00 and gave the company a “buy” rating in a report on Friday, August 12th. Finally, Barclays reduced their target price on Northern Trust from $140.00 to $120.00 and set an “equal weight” rating for the company in a report on Thursday, July 21st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Northern Trust presently has a consensus rating of “Moderate Buy” and an average price target of $120.19.

Northern Trust Company Profile

(Get Rating)

Northern Trust Corporation, a financial holding company, provides wealth management, asset servicing, asset management, and banking solutions for corporations, institutions, families, and individuals worldwide. It operates in two segments, Corporate & Institutional Services (C&IS) and Wealth Management.

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Institutional Ownership by Quarter for Northern Trust (NASDAQ:NTRS)

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