Callahan Advisors LLC Grows Holdings in Northern Trust Corporation $NTRS

Callahan Advisors LLC lifted its holdings in Northern Trust Corporation (NASDAQ:NTRS) by 28.6% in the second quarter, HoldingsChannel reports. The fund owned 25,065 shares of the asset manager’s stock after buying an additional 5,573 shares during the period. Callahan Advisors LLC’s holdings in Northern Trust were worth $3,178,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. New York State Teachers Retirement System lifted its holdings in shares of Northern Trust by 5.0% in the 2nd quarter. New York State Teachers Retirement System now owns 197,469 shares of the asset manager’s stock worth $25,037,000 after acquiring an additional 9,468 shares during the last quarter. Ritholtz Wealth Management lifted its holdings in shares of Northern Trust by 131.2% in the 2nd quarter. Ritholtz Wealth Management now owns 29,887 shares of the asset manager’s stock worth $3,789,000 after acquiring an additional 16,960 shares during the last quarter. Harbour Investments Inc. lifted its holdings in shares of Northern Trust by 10.0% in the 2nd quarter. Harbour Investments Inc. now owns 1,032 shares of the asset manager’s stock worth $131,000 after acquiring an additional 94 shares during the last quarter. Sagespring Wealth Partners LLC bought a new stake in shares of Northern Trust in the 2nd quarter worth approximately $207,000. Finally, Equitable Trust Co. lifted its holdings in shares of Northern Trust by 8.1% in the 2nd quarter. Equitable Trust Co. now owns 3,376 shares of the asset manager’s stock worth $428,000 after acquiring an additional 252 shares during the last quarter. 83.19% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

NTRS has been the subject of a number of recent research reports. Citigroup boosted their price objective on shares of Northern Trust from $110.00 to $135.00 and gave the stock a “neutral” rating in a report on Friday, September 5th. Barclays boosted their price objective on shares of Northern Trust from $128.00 to $136.00 and gave the stock an “equal weight” rating in a report on Thursday, July 24th. Zacks Research lowered shares of Northern Trust from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 9th. BMO Capital Markets assumed coverage on shares of Northern Trust in a report on Friday, October 3rd. They set a “market perform” rating and a $142.00 price target for the company. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Northern Trust in a report on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $128.23.

Northern Trust Stock Up 0.7%

Shares of Northern Trust stock opened at $129.88 on Thursday. 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’s fifty day simple moving average is $129.60 and its two-hundred day simple moving average is $116.22. The company has a market cap of $24.84 billion, a P/E ratio of 15.26, a PEG ratio of 1.44 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.

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

Northern Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Friday, September 5th were given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend was Friday, September 5th. This is an increase from Northern Trust’s previous quarterly dividend of $0.75. Northern Trust’s payout ratio is presently 37.60%.

Insider Transactions at Northern Trust

In other Northern Trust news, Director Robert Edward Jr. Moritz bought 256 shares of Northern Trust stock in a transaction dated Wednesday, August 13th. The shares were purchased at an average cost of $126.34 per share, with a total value of $32,343.04. Following the transaction, 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 ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.77% of the company’s stock.

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.