Trust Co. of Toledo NA OH Takes $165,000 Position in Northern Trust Corporation $NTRS

Trust Co. of Toledo NA OH bought a new stake in Northern Trust Corporation (NASDAQ:NTRS) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,300 shares of the asset manager’s stock, valued at approximately $165,000.

Other institutional investors also recently modified their holdings of the company. Continuum Advisory LLC boosted its position in shares of Northern Trust by 5,340.0% in the first quarter. Continuum Advisory LLC now owns 272 shares of the asset manager’s stock valued at $27,000 after acquiring an additional 267 shares during the period. Zions Bancorporation National Association UT bought a new stake in shares of Northern Trust in the first quarter valued at about $29,000. Wayfinding Financial LLC bought a new stake in shares of Northern Trust in the first quarter valued at about $35,000. GFG Capital LLC bought a new stake in shares of Northern Trust in the second quarter valued at about $35,000. Finally, Harbor Investment Advisory LLC boosted its position in shares of Northern Trust by 68.4% in the second quarter. Harbor Investment Advisory LLC now owns 320 shares of the asset manager’s stock valued at $41,000 after acquiring an additional 130 shares during the period. Institutional investors own 83.19% of the company’s stock.

Insider Activity

In other news, Director Robert Edward Jr. Moritz acquired 256 shares of the stock in a transaction dated Wednesday, August 13th. The stock was bought at an average price of $126.34 per share, with a total value of $32,343.04. Following the completion of the purchase, the director directly owned 2,525 shares of the company’s stock, valued at $319,008.50. This represents a 11.28% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.77% of the stock is owned by corporate insiders.

Northern Trust Stock Down 4.1%

Shares of NASDAQ NTRS opened at $124.72 on Friday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.58. The company has a market cap of $23.85 billion, a price-to-earnings ratio of 14.66, a PEG ratio of 1.40 and a beta of 1.31. Northern Trust Corporation has a 12 month low of $81.62 and a 12 month high of $135.48. The stock has a 50-day moving average price of $129.46 and a two-hundred day moving average price of $115.72.

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

Northern Trust Increases Dividend

The firm also recently announced 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. The ex-dividend date of this dividend was Friday, September 5th. This is a positive change from Northern Trust’s previous quarterly dividend of $0.75. This represents a $3.20 annualized dividend and a yield of 2.6%. Northern Trust’s payout ratio is presently 37.60%.

Wall Street Analysts Forecast Growth

NTRS has been the subject of a number of analyst reports. Royal Bank Of Canada set a $123.00 price target on Northern Trust and gave the company an “outperform” rating in a research note on Monday, June 30th. Wall Street Zen raised Northern Trust from a “sell” rating to a “hold” rating in a research note on Friday, September 26th. Truist Financial boosted their price target on Northern Trust from $132.00 to $142.00 and gave the company a “hold” rating in a research note on Thursday, October 2nd. Wells Fargo & Company boosted their price target 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. Finally, Citigroup boosted their price target on Northern Trust from $110.00 to $135.00 and gave the company a “neutral” rating in a research note on Friday, September 5th. Four analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Northern Trust presently has a consensus rating of “Hold” and a consensus target price 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.