Cetera Investment Advisers Boosts Stock Holdings in Northern Trust Corporation $NTRS

Cetera Investment Advisers boosted its position in shares of Northern Trust Corporation (NASDAQ:NTRS) by 9.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 68,948 shares of the asset manager’s stock after buying an additional 6,109 shares during the quarter. Cetera Investment Advisers’ holdings in Northern Trust were worth $9,623,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp raised its position in Northern Trust by 1.0% during the third quarter. State Street Corp now owns 9,493,634 shares of the asset manager’s stock worth $1,285,236,000 after acquiring an additional 97,584 shares during the period. Invesco Ltd. grew its position in shares of Northern Trust by 8.7% in the fourth quarter. Invesco Ltd. now owns 3,747,840 shares of the asset manager’s stock valued at $511,917,000 after purchasing an additional 301,164 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Northern Trust by 5.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,894,755 shares of the asset manager’s stock worth $395,395,000 after purchasing an additional 161,826 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Northern Trust by 1.5% during the first quarter. Dimensional Fund Advisors LP now owns 2,455,996 shares of the asset manager’s stock worth $342,744,000 after purchasing an additional 36,322 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Northern Trust by 4.3% during the 1st quarter. Bank of New York Mellon Corp now owns 2,036,137 shares of the asset manager’s stock worth $284,184,000 after purchasing an additional 83,117 shares during the last quarter. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Insider Activity at Northern Trust

In related news, Director Robert Edward Jr. Moritz bought 255 shares of the stock in a transaction that occurred 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 purchase, the director directly owned 8,400 shares of the company’s stock, valued at $1,508,388. This trade represents a 3.13% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 0.66% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on NTRS shares. Wells Fargo & Company raised their target price 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 boosted their price target on Northern Trust from $157.00 to $175.00 and gave the stock an “underperform” rating in a research report on Thursday, July 9th. JPMorgan Chase & Co. increased their price objective on Northern Trust from $170.00 to $179.50 and gave the company a “neutral” rating in a research note on Monday, July 6th. Bank of America lifted their target price on shares of Northern Trust from $190.00 to $200.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. Finally, Truist Financial upped their target price on shares of Northern Trust from $176.00 to $186.00 and gave the stock a “hold” rating in a report on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $180.25.

Northern Trust Stock Performance

NASDAQ NTRS opened at $182.51 on Friday. The stock has a fifty day simple moving average of $176.01 and a 200-day simple moving average of $159.01. The company has a current ratio of 0.65, a quick ratio of 0.62 and a debt-to-equity ratio of 0.43. The stock has a market cap of $33.77 billion, a PE ratio of 15.67, a P/E/G ratio of 1.00 and a beta of 1.25. Northern Trust Corporation has a twelve month low of $121.12 and a twelve month high of $191.60.

Northern Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 4th will be given a $0.88 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $3.52 annualized dividend and a yield of 1.9%. This is a boost from Northern Trust’s previous quarterly dividend of $0.80. Northern Trust’s dividend payout ratio is 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.