Farther Finance Advisors LLC Has $886,000 Stock Position in Northern Trust Corporation $NTRS

Farther Finance Advisors LLC raised its position in Northern Trust Corporation (NASDAQ:NTRS) by 185.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,585 shares of the asset manager’s stock after purchasing an additional 4,279 shares during the quarter. Farther Finance Advisors LLC’s holdings in Northern Trust were worth $886,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

NTRS has been the topic of several analyst reports. Zacks Research downgraded shares of Northern Trust from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 9th. Wells Fargo & Company increased their price objective on Northern Trust from $127.00 to $131.00 and gave the company an “equal weight” rating in a report on Thursday, October 23rd. TD Cowen raised their price objective on Northern Trust from $152.00 to $155.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Northern Trust in a research report on Wednesday, October 8th. Finally, Evercore ISI increased their price target on Northern Trust from $125.00 to $135.00 and gave the company an “in-line” rating in a report on Tuesday, September 30th. Five investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $132.46.

Northern Trust Price Performance

Shares of NASDAQ:NTRS opened at $139.71 on Tuesday. The company has a market cap of $26.42 billion, a price-to-earnings ratio of 16.28, a PEG ratio of 1.51 and a beta of 1.27. The business has a 50 day moving average price of $131.79 and a 200 day moving average price of $128.86. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.58. Northern Trust Corporation has a twelve month low of $81.62 and a twelve month high of $141.25.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings results on Wednesday, October 22nd. The asset manager reported $2.29 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 company had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.02 billion. During the same period in the previous year, the company earned $2.22 earnings per share. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. Research analysts predict that Northern Trust Corporation will post 8.27 earnings per share for the current year.

Northern Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 1st. Investors of record on Friday, December 5th will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 2.3%. The ex-dividend date is Friday, December 5th. Northern Trust’s dividend payout ratio is presently 37.30%.

Insider Buying and Selling at Northern Trust

In related news, insider John Landers sold 766 shares of the stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $124.35, for a total value of $95,252.10. Following the completion of the sale, the insider owned 7,313 shares in the company, valued at approximately $909,371.55. This trade represents a 9.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Susan Cohen Levy sold 27,591 shares of the business’s stock in a transaction dated Tuesday, November 4th. The shares were 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 represents a 36.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.77% of the company’s stock.

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.