Northern Trust Corporation $NTRS Shares Bought by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC boosted its position in shares of Northern Trust Corporation (NASDAQ:NTRS) by 18.1% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 16,036 shares of the asset manager’s stock after acquiring an additional 2,457 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Northern Trust were worth $2,033,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Continuum Advisory LLC lifted its position in Northern Trust by 5,340.0% during the 1st quarter. Continuum Advisory LLC now owns 272 shares of the asset manager’s stock worth $27,000 after acquiring an additional 267 shares during the period. Zions Bancorporation National Association UT acquired a new stake in Northern Trust during the 1st quarter worth about $29,000. Wayfinding Financial LLC acquired a new stake in Northern Trust during the 1st quarter worth about $35,000. GFG Capital LLC acquired a new stake in Northern Trust during the 2nd quarter worth about $35,000. Finally, Harbor Investment Advisory LLC lifted its position in Northern Trust by 68.4% during the 2nd quarter. Harbor Investment Advisory LLC now owns 320 shares of the asset manager’s stock worth $41,000 after acquiring an additional 130 shares during the period. 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 acquired 256 shares of the business’s stock in a transaction on Wednesday, August 13th. The stock was bought at an average cost of $126.34 per share, for a total transaction of $32,343.04. Following the purchase, the director owned 2,525 shares in the company, valued at approximately $319,008.50. This represents a 11.28% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.77% of the company’s stock.

Northern Trust Price Performance

Shares of Northern Trust stock opened at $129.88 on Thursday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.58. Northern Trust Corporation has a twelve month low of $81.62 and a twelve month high of $135.48. The business has a 50-day moving average price of $129.60 and a 200 day moving average price of $116.22. The firm has a market cap of $24.84 billion, a PE ratio of 15.26, a P/E/G ratio of 1.44 and a beta of 1.31.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings results on Wednesday, July 23rd. The asset manager reported $2.13 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.05. Northern Trust had a return on equity of 14.06% and a net margin of 11.75%.The firm had revenue of $2 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same quarter in the previous year, the business earned $4.34 EPS. Northern Trust’s revenue for the quarter was down 26.4% compared to the same quarter last year. Sell-side analysts predict that Northern Trust Corporation will post 8.27 earnings per share for the current fiscal year.

Northern Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Friday, September 5th were paid a dividend of $0.80 per share. This is an increase from Northern Trust’s previous quarterly dividend of $0.75. The ex-dividend date was Friday, September 5th. This represents a $3.20 annualized dividend and a yield of 2.5%. Northern Trust’s dividend payout ratio (DPR) is presently 37.60%.

Analysts Set New Price Targets

NTRS has been the subject of a number of recent research reports. Citigroup lifted their price objective on Northern Trust from $110.00 to $135.00 and gave the company a “neutral” rating in a research note on Friday, September 5th. The Goldman Sachs Group set a $135.00 price objective on Northern Trust in a research note on Tuesday, September 30th. Royal Bank Of Canada set a $123.00 price objective on Northern Trust and gave the company an “outperform” rating in a research note on Monday, June 30th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Northern Trust in a research note on Wednesday, October 8th. Finally, Wells Fargo & Company lifted their price objective on Northern Trust from $120.00 to $127.00 and gave the company an “equal weight” rating in a research note on Friday, October 3rd. Four investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $128.23.

About Northern Trust

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, Asset Servicing and Wealth Management. The Asset Servicing segment offers asset servicing and related services, including custody, fund administration, investment operations outsourcing, investment management, investment risk and analytical services, employee benefit services, securities lending, foreign exchange, treasury management, brokerage services, transition management services, banking, and cash management services.