Meeder Advisory Services Inc. Acquires New Holdings in Northern Trust Corporation $NTRS

Meeder Advisory Services Inc. bought a new position in shares of Northern Trust Corporation (NASDAQ:NTRS) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 3,149 shares of the asset manager’s stock, valued at approximately $547,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NTRS. Reflection Asset Management acquired a new position in shares of Northern Trust during the fourth quarter worth $25,000. Triumph Capital Management acquired a new stake in Northern Trust in the third quarter valued at $25,000. Basecamp Wealth Advisors LLC raised its position in Northern Trust by 99.0% during 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 Northern Trust during the 4th quarter worth $34,000. Finally, International Assets Investment Management LLC acquired a new position in Northern Trust during the 4th quarter worth about $35,000. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Northern Trust

In related news, Director Robert Edward Jr. Moritz purchased 255 shares of the firm’s stock in a transaction on Wednesday, July 29th. The stock was purchased at an average cost of $179.57 per share, with a total value of $45,790.35. Following the completion of the purchase, the director owned 8,400 shares in the company, valued at approximately $1,508,388. This trade represents a 3.13% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.66% of the stock is currently owned by corporate insiders.

Northern Trust Trading Down 1.6%

NASDAQ NTRS opened at $182.51 on Friday. The stock has a market capitalization of $33.39 billion, a P/E ratio of 15.67, a P/E/G ratio of 1.04 and a beta of 1.25. The business has a 50 day simple moving average of $181.32 and a 200 day simple moving average of $163.13. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.65 and a quick ratio of 0.65. Northern Trust Corporation has a one year low of $121.12 and a one year high of $195.78.

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

Northern Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 4th will be given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Friday, September 4th. This is a boost from Northern Trust’s previous quarterly dividend of $0.80. Northern Trust’s dividend payout ratio is presently 27.47%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Wells Fargo & Company upped their price target on Northern Trust from $189.00 to $194.00 and gave the company an “equal weight” rating in a research report on Thursday, July 23rd. 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 research note on Thursday, July 9th. Zacks Research upgraded Northern Trust from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th. UBS Group set a $186.00 target price on shares of Northern Trust in a research report on Friday, June 26th. Finally, Royal Bank Of Canada downgraded shares of Northern Trust from an “outperform” rating to a “sector perform” rating and set a $178.00 price target on the stock. in a research report on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $180.68.

Northern Trust Company 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.