Performance Wealth Partners LLC Makes New Investment in Northern Trust Corporation $NTRS

Performance Wealth Partners LLC acquired a new stake in Northern Trust Corporation (NASDAQ:NTRS) in the 2nd quarter, Holdings Channel reports. The firm acquired 3,771 shares of the asset manager’s stock, valued at approximately $656,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Reflection Asset Management bought a new position in Northern Trust during the fourth quarter worth $25,000. Triumph Capital Management bought a new stake in Northern Trust in the 3rd quarter valued at $25,000. Basecamp Wealth Advisors LLC grew its position in Northern Trust by 99.0% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 203 shares of the asset manager’s stock worth $28,000 after purchasing an additional 101 shares during the last quarter. Elyxium Wealth LLC bought a new position in shares of Northern Trust during the 4th quarter worth about $34,000. Finally, International Assets Investment Management LLC bought a new position in shares of Northern Trust during the 4th quarter worth about $35,000. Institutional investors and hedge funds own 83.19% of the company’s stock.

Insider Activity

In related news, Director Robert Edward Jr. Moritz acquired 255 shares of the business’s stock in a transaction on Wednesday, July 29th. The stock was bought at an average cost of $179.57 per share, with a total value of $45,790.35. Following the completion of the acquisition, the director owned 8,400 shares in the company, valued at $1,508,388. The trade was a 3.13% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. UBS Group set a $186.00 target price on shares of Northern Trust in a research note on Friday, June 26th. Royal Bank Of Canada lowered Northern Trust from an “outperform” rating to a “sector perform” rating and set a $178.00 price target on the stock. in a research note on Wednesday, July 22nd. The Goldman Sachs Group upped their price target on Northern Trust from $151.00 to $169.00 and gave the company a “neutral” rating in a report on Wednesday, April 22nd. Wells Fargo & Company raised their price objective on Northern Trust from $189.00 to $194.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 23rd. Finally, Keefe, Bruyette & Woods lifted their price objective on Northern Trust from $157.00 to $175.00 and gave the stock an “underperform” rating in a report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $180.68.

Northern Trust Price Performance

NASDAQ:NTRS opened at $191.47 on Tuesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.65 and a current ratio of 0.65. The company has a 50-day moving average of $180.30 and a 200-day moving average of $162.36. Northern Trust Corporation has a 52 week low of $121.12 and a 52 week high of $195.78. The company has a market capitalization of $35.03 billion, a price-to-earnings ratio of 16.44, a PEG ratio of 1.08 and a beta of 1.25.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings results on Wednesday, July 22nd. The asset manager reported $4.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.71 by $1.52. The firm had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.69 billion. Northern Trust had a net margin of 14.76% and a return on equity of 16.91%. The company’s quarterly revenue was up 35.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.13 earnings per share. As a group, equities research analysts anticipate that Northern Trust Corporation will post 11.59 earnings per share for the current fiscal year.

Northern Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 4th will be paid a dividend of $0.88 per share. This is an increase from Northern Trust’s previous quarterly dividend of $0.80. This represents a $3.52 annualized dividend and a yield of 1.8%. The ex-dividend date is Friday, September 4th. Northern Trust’s dividend payout ratio is currently 27.47%.

About Northern Trust

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.