Forum Financial Management LP Purchases 495 Shares of Northern Trust Corporation $NTRS

Forum Financial Management LP boosted its position in shares of Northern Trust Corporation (NASDAQ:NTRS) by 9.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,820 shares of the asset manager’s stock after buying an additional 495 shares during the period. Forum Financial Management LP’s holdings in Northern Trust were worth $738,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NTRS. GAMMA Investing LLC boosted its stake in Northern Trust by 5.8% during the first quarter. GAMMA Investing LLC now owns 4,517 shares of the asset manager’s stock valued at $446,000 after buying an additional 249 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in Northern Trust by 9.1% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 16,317 shares of the asset manager’s stock valued at $1,610,000 after buying an additional 1,358 shares during the last quarter. Continuum Advisory LLC boosted its stake in Northern Trust by 5,340.0% during the first quarter. Continuum Advisory LLC now owns 272 shares of the asset manager’s stock valued at $27,000 after buying an additional 267 shares during the last quarter. Oppenheimer & Co. Inc. boosted its stake in Northern Trust by 9.4% during the first quarter. Oppenheimer & Co. Inc. now owns 4,443 shares of the asset manager’s stock valued at $438,000 after buying an additional 380 shares during the last quarter. Finally, Asset Management One Co. Ltd. boosted its stake in Northern Trust by 8.4% during the first quarter. Asset Management One Co. Ltd. now owns 84,974 shares of the asset manager’s stock valued at $8,383,000 after buying an additional 6,570 shares during the last quarter. 83.19% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on NTRS shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Northern Trust in a research note on Wednesday, October 8th. Cowen reaffirmed a “buy” rating on shares of Northern Trust in a research note on Thursday. Barclays raised their price objective on Northern Trust from $128.00 to $136.00 and gave the company an “equal weight” rating in a research note on Thursday, July 24th. Wolfe Research raised Northern Trust from an “underperform” rating to a “peer perform” rating in a research note on Thursday, July 24th. Finally, Zacks Research lowered Northern Trust from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 9th. Five analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $130.71.

Insider Buying and Selling

In other news, Director Robert Edward Jr. Moritz acquired 256 shares of Northern Trust stock in a transaction on Wednesday, August 13th. The shares were bought at an average cost of $126.34 per share, for a total transaction of $32,343.04. Following the acquisition, the director directly owned 2,525 shares of the company’s stock, valued at $319,008.50. This trade represents a 11.28% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.77% of the stock is owned by insiders.

Northern Trust Trading Down 0.6%

Shares of NASDAQ NTRS opened at $124.74 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.72 and a current ratio of 0.70. The business’s 50 day moving average price is $129.59 and its 200-day moving average price is $117.60. Northern Trust Corporation has a fifty-two week low of $81.62 and a fifty-two week high of $135.48. The company has a market cap of $23.85 billion, a price-to-earnings ratio of 14.54, a PEG ratio of 1.40 and a beta of 1.31.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings results on Wednesday, October 22nd. The asset manager reported $2.29 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.03. Northern Trust had a return on equity of 14.37% and a net margin of 11.99%.The firm had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.02 billion. During the same period in the prior year, the business posted $2.22 earnings per share. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. On average, sell-side analysts expect that Northern Trust Corporation will post 8.27 earnings per share for the current year.

Northern Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 1st. Stockholders of record on Friday, December 5th will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Friday, December 5th. Northern Trust’s dividend payout ratio is presently 37.60%.

Northern Trust Profile

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.