First National Bank of Omaha Takes $4.80 Million Position in Northern Trust Corporation $NTRS

First National Bank of Omaha purchased a new position in shares of Northern Trust Corporation (NASDAQ:NTRS) in the second quarter, HoldingsChannel.com reports. The fund purchased 27,608 shares of the asset manager’s stock, valued at approximately $4,799,000.

Several other large investors have also made changes to their positions in the company. Mowery & Schoenfeld Wealth Management LLC acquired a new position in Northern Trust during the second quarter valued at approximately $383,000. Meeder Advisory Services Inc. acquired a new position in shares of Northern Trust during the 2nd quarter worth $547,000. Meeder Asset Management Inc. bought a new stake in shares of Northern Trust during the 2nd quarter worth $3,186,000. Citizens Financial Group Inc. RI acquired a new stake in Northern Trust in the second quarter valued at about $790,000. Finally, Nuance Investments LLC bought a new position in Northern Trust in the second quarter valued at about $253,000. Institutional investors and hedge funds own 83.19% of the company’s stock.

Insider Activity

In related news, Director Robert Edward Jr. Moritz acquired 255 shares of the stock in a transaction dated Wednesday, July 29th. The stock was bought at an average cost of $179.57 per share, for a total transaction of $45,790.35. Following the completion of the transaction, the director directly owned 8,400 shares of the company’s stock, valued at $1,508,388. The trade was a 3.13% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.66% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

NTRS has been the subject of several research analyst reports. The Goldman Sachs Group boosted their target price on Northern Trust from $151.00 to $169.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 22nd. Bank of America lifted their price target on shares of Northern Trust from $190.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Zacks Research upgraded shares of Northern Trust from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. Weiss Ratings reissued a “buy (b)” rating on shares of Northern Trust in a research note on Friday, July 31st. Finally, JPMorgan Chase & Co. raised their target price on shares of Northern Trust from $179.50 to $185.50 and gave the company a “neutral” rating in a research report on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $180.68.

Northern Trust Stock Down 0.5%

Shares of NASDAQ NTRS opened at $190.58 on Wednesday. Northern Trust Corporation has a 1 year low of $121.12 and a 1 year high of $195.78. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.65 and a quick ratio of 0.65. The firm has a market cap of $34.87 billion, a PE ratio of 16.36, a price-to-earnings-growth ratio of 1.08 and a beta of 1.25. The company has a 50 day simple moving average of $180.70 and a 200 day simple moving average of $162.65.

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

Northern Trust Increases Dividend

The business 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. 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 dividend yield of 1.8%. Northern Trust’s dividend payout ratio is presently 27.47%.

Northern Trust Company Profile

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.