Resonant Capital Advisors LLC Grows Holdings in Northern Trust Corporation $NTRS

Resonant Capital Advisors LLC boosted its holdings in shares of Northern Trust Corporation (NASDAQ:NTRS) by 1.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 22,639 shares of the asset manager’s stock after purchasing an additional 277 shares during the period. Resonant Capital Advisors LLC’s holdings in Northern Trust were worth $2,885,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Bank of New York Mellon Corp grew its holdings in shares of Northern Trust by 47.8% during the first quarter. Bank of New York Mellon Corp now owns 1,810,816 shares of the asset manager’s stock worth $178,637,000 after buying an additional 585,992 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Northern Trust by 19.3% in the first quarter. Invesco Ltd. now owns 3,443,599 shares of the asset manager’s stock valued at $339,711,000 after purchasing an additional 558,287 shares during the period. RNC Capital Management LLC purchased a new stake in shares of Northern Trust during the first quarter worth approximately $41,905,000. Nuveen LLC acquired a new stake in shares of Northern Trust during the first quarter worth $41,834,000. Finally, Allianz Asset Management GmbH grew its position in Northern Trust by 529.4% in the 1st quarter. Allianz Asset Management GmbH now owns 461,383 shares of the asset manager’s stock valued at $45,515,000 after buying an additional 388,081 shares during the last quarter. 83.19% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Northern Trust

In related news, Director Robert Edward Jr. Moritz bought 256 shares of the stock in a transaction on Wednesday, August 13th. The shares were purchased at an average price of $126.34 per share, for a total transaction of $32,343.04. Following the acquisition, the director owned 2,525 shares in the company, valued at $319,008.50. This represents a 11.28% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.77% of the company’s stock.

Wall Street Analyst Weigh In

NTRS has been the subject of several recent analyst reports. TD Cowen raised their target price on shares of Northern Trust from $152.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday. Wells Fargo & Company raised their price objective on shares of Northern Trust from $127.00 to $131.00 and gave the company an “equal weight” rating in a research report on Thursday. BMO Capital Markets assumed coverage on Northern Trust in a research report on Friday, October 3rd. They set a “market perform” rating and a $142.00 target price on the stock. Zacks Research downgraded Northern Trust from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 9th. Finally, Morgan Stanley raised their target price on Northern Trust from $110.00 to $131.00 and gave the company an “underweight” rating in a report on Monday, September 29th. Five research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $130.71.

Northern Trust Stock Up 1.0%

Northern Trust stock opened at $126.03 on Friday. The firm has a market capitalization of $24.10 billion, a price-to-earnings ratio of 14.69, a price-to-earnings-growth ratio of 1.41 and a beta of 1.31. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.72 and a current ratio of 0.70. Northern Trust Corporation has a fifty-two week low of $81.62 and a fifty-two week high of $135.48. The stock’s fifty day moving average is $129.59 and its two-hundred day moving average is $118.12.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings data on Wednesday, October 22nd. The asset manager reported $2.29 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.03. The firm had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $2.02 billion. Northern Trust had a net margin of 11.99% and a return on equity of 14.37%. The firm’s revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the company earned $2.22 EPS. Analysts predict that Northern Trust Corporation will post 8.27 EPS for the current fiscal year.

Northern Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 1st. Investors of record on Friday, December 5th will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Friday, December 5th. Northern Trust’s payout ratio is currently 37.30%.

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.