Trueblood Wealth Management LLC Takes $573,000 Position in Northern Trust Corporation $NTRS

Trueblood Wealth Management LLC bought a new stake in Northern Trust Corporation (NASDAQ:NTRS) in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 4,259 shares of the asset manager’s stock, valued at approximately $573,000.

A number of other institutional investors have also added to or reduced their stakes in the company. FNY Investment Advisers LLC bought a new stake in shares of Northern Trust during the second quarter valued at approximately $25,000. Hantz Financial Services Inc. increased its stake in Northern Trust by 5,225.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 213 shares of the asset manager’s stock valued at $27,000 after purchasing an additional 209 shares in the last quarter. AlphaCore Capital LLC raised its holdings in Northern Trust by 87.4% during the second quarter. AlphaCore Capital LLC now owns 208 shares of the asset manager’s stock worth $27,000 after buying an additional 97 shares during the last quarter. Clearstead Trust LLC acquired a new position in Northern Trust during the second quarter worth $29,000. Finally, GFG Capital LLC acquired a new position in shares of Northern Trust during the second quarter valued at about $35,000. 83.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NTRS has been the topic of several recent research reports. Evercore ISI raised their price target on shares of Northern Trust from $125.00 to $135.00 and gave the company an “in-line” rating in a research report on Tuesday, September 30th. Weiss Ratings reissued a “buy (b-)” rating on shares of Northern Trust in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods lifted their target price on Northern Trust from $123.00 to $125.00 and gave the company an “underperform” rating in a research report on Thursday, October 23rd. Citigroup upped their price target on Northern Trust from $135.00 to $143.00 and gave the stock a “neutral” rating in a report on Tuesday, December 30th. Finally, Barclays raised their price objective on Northern Trust from $136.00 to $160.00 and gave the company an “equal weight” rating in a research note on Monday. Five research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $136.00.

Northern Trust Stock Up 1.0%

NTRS opened at $145.74 on Friday. Northern Trust Corporation has a 12 month low of $81.62 and a 12 month high of $146.00. The company has a market cap of $27.56 billion, a PE ratio of 16.99, a price-to-earnings-growth ratio of 1.20 and a beta of 1.27. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.58. The company has a 50 day moving average of $134.39 and a 200 day moving average of $130.46.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings data on Wednesday, October 22nd. The asset manager reported $2.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.26 by $0.03. Northern Trust had a return on equity of 14.37% and a net margin of 11.99%.The business had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $2.02 billion. During the same quarter in the prior year, the firm posted $2.22 EPS. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. On average, sell-side analysts expect that Northern Trust Corporation will post 8.27 EPS for the current year.

Northern Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 1st. Stockholders of record on Friday, December 5th were paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Friday, December 5th. Northern Trust’s payout ratio is 37.30%.

Insider Activity

In related news, insider John Landers sold 766 shares of the company’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $124.35, for a total transaction of $95,252.10. Following the completion of the sale, the insider directly owned 7,313 shares in the company, valued at $909,371.55. This represents a 9.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Susan Cohen Levy sold 27,591 shares of the company’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $128.13, for a total value of $3,535,234.83. Following the transaction, the executive vice president owned 48,257 shares in the company, valued at $6,183,169.41. This trade represents a 36.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.77% of the company’s stock.

Northern Trust Profile

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.