Dearborn Partners LLC Purchases Shares of 9,145 Northern Trust Corporation $NTRS

Dearborn Partners LLC purchased a new stake in Northern Trust Corporation (NASDAQ:NTRS) in the 2nd quarter, HoldingsChannel reports. The fund purchased 9,145 shares of the asset manager’s stock, valued at approximately $1,590,000.

Other hedge funds also recently made changes to their positions in the company. Triumph Capital Management acquired a new stake in Northern Trust during the 3rd quarter valued at approximately $25,000. Reflection Asset Management acquired a new position in shares of Northern Trust in the 4th quarter worth approximately $25,000. Basecamp Wealth Advisors LLC boosted its stake in shares of Northern Trust by 99.0% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 203 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 101 shares during the last quarter. Keating Financial Advisory Services Inc. bought a new stake in shares of Northern Trust in the 2nd quarter valued at $31,000. Finally, Elyxium Wealth LLC acquired a new stake in shares of Northern Trust during the fourth quarter worth $34,000. 83.19% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

NTRS has been the topic of several research analyst reports. Bank of America upped their target price on Northern Trust from $190.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. JPMorgan Chase & Co. lifted their target price on Northern Trust from $179.50 to $185.50 and gave the stock a “neutral” rating in a report on Tuesday, August 4th. Evercore set a $179.00 price target on Northern Trust in a research note on Monday, July 6th. Weiss Ratings restated a “buy (b)” rating on shares of Northern Trust in a report on Friday, July 31st. 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 objective for the company. in a research report on Wednesday, July 22nd. Four equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $180.68.

Northern Trust Stock Down 0.7%

NTRS stock opened at $186.27 on Friday. The stock’s 50 day simple moving average is $182.57 and its 200 day simple moving average is $164.39. The company has a market cap of $34.08 billion, a P/E ratio of 15.99, a price-to-earnings-growth ratio of 1.06 and a beta of 1.25. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.65 and a current ratio of 0.65. Northern Trust Corporation has a fifty-two week low of $121.12 and a fifty-two week high of $195.78.

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

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 paid a dividend of $0.88 per share. This is a boost from Northern Trust’s previous quarterly dividend of $0.80. The ex-dividend date is Friday, September 4th. This represents a $3.52 dividend on an annualized basis and a yield of 1.9%. Northern Trust’s dividend payout ratio (DPR) is presently 27.47%.

Insiders Place Their Bets

In other news, EVP Thomas A. South sold 1,800 shares of Northern Trust stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $184.90, for a total transaction of $332,820.00. Following the completion of the transaction, the executive vice president directly owned 92,917 shares in the company, valued at $17,180,353.30. This trade represents a 1.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert Edward Jr. Moritz bought 255 shares of the firm’s stock in a transaction dated Wednesday, July 29th. The shares were acquired at an average cost of $179.57 per share, with a total value of $45,790.35. Following the completion of the transaction, the director owned 8,400 shares of the company’s stock, valued at $1,508,388. This represents a 3.13% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 0.66% 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.