Sagespring Wealth Partners LLC Invests $207,000 in Northern Trust Corporation $NTRS

Sagespring Wealth Partners LLC purchased a new position in Northern Trust Corporation (NASDAQ:NTRS) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,634 shares of the asset manager’s stock, valued at approximately $207,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Equitable Trust Co. increased its stake in Northern Trust by 8.1% in the 2nd quarter. Equitable Trust Co. now owns 3,376 shares of the asset manager’s stock worth $428,000 after buying an additional 252 shares during the period. Boston Trust Walden Corp increased its stake in Northern Trust by 1.7% in the 2nd quarter. Boston Trust Walden Corp now owns 878,593 shares of the asset manager’s stock worth $111,397,000 after buying an additional 14,974 shares during the period. Morningstar Investment Management LLC purchased a new position in Northern Trust in the 2nd quarter worth about $695,000. Perfromance Wealth Partners LLC increased its stake in Northern Trust by 34.3% in the 2nd quarter. Perfromance Wealth Partners LLC now owns 3,705 shares of the asset manager’s stock worth $470,000 after buying an additional 947 shares during the period. Finally, NorthRock Partners LLC increased its stake in Northern Trust by 8.9% in the 2nd quarter. NorthRock Partners LLC now owns 3,729 shares of the asset manager’s stock worth $476,000 after buying an additional 306 shares during the period. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on NTRS. Barclays raised their price target on shares of Northern Trust from $128.00 to $136.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 24th. Citigroup raised their target price on shares of Northern Trust from $110.00 to $135.00 and gave the company a “neutral” rating in a research report on Friday, September 5th. Wells Fargo & Company raised their target price on shares of Northern Trust from $120.00 to $127.00 and gave the company an “equal weight” rating in a research report on Friday, October 3rd. Wall Street Zen raised shares of Northern Trust from a “sell” rating to a “hold” rating in a research report on Friday, September 26th. Finally, Morgan Stanley raised their target price on shares of Northern Trust from $110.00 to $131.00 and gave the company an “underweight” rating in a research report on Monday, September 29th. Four analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $128.23.

Northern Trust Stock Up 0.2%

NASDAQ:NTRS opened at $124.82 on Friday. Northern Trust Corporation has a fifty-two week low of $81.62 and a fifty-two week high of $135.48. The stock has a market capitalization of $23.87 billion, a P/E ratio of 14.67, a P/E/G ratio of 1.39 and a beta of 1.31. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.72 and a current ratio of 0.72. The company’s 50-day simple moving average is $129.58 and its 200-day simple moving average is $116.71.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings results on Wednesday, July 23rd. The asset manager reported $2.13 earnings per share for the quarter, beating analysts’ consensus estimates of $2.08 by $0.05. Northern Trust had a net margin of 11.75% and a return on equity of 14.06%. The business had revenue of $2 billion for the quarter, compared to analysts’ expectations of $1.96 billion. During the same period last year, the business earned $4.34 EPS. The company’s revenue was down 26.4% compared to the same quarter last year. On average, equities analysts anticipate that Northern Trust Corporation will post 8.27 earnings per share for the current fiscal year.

Northern Trust Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Friday, September 5th were issued a $0.80 dividend. The ex-dividend date was Friday, September 5th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.6%. This is an increase from Northern Trust’s previous quarterly dividend of $0.75. Northern Trust’s dividend payout ratio (DPR) is 37.60%.

Insider Buying and Selling at Northern Trust

In other news, Director Robert Edward Jr. Moritz purchased 256 shares of the stock in a transaction dated Wednesday, August 13th. The shares were acquired at an average cost of $126.34 per share, for a total transaction of $32,343.04. Following the acquisition, the director owned 2,525 shares of the company’s stock, valued at approximately $319,008.50. This represents a 11.28% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.77% of the company’s stock.

Northern Trust Profile

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.