CVA Family Office LLC Boosts Stock Position in Northern Trust Co. (NASDAQ:NTRS)

CVA Family Office LLC boosted its holdings in shares of Northern Trust Co. (NASDAQ:NTRSGet Rating) by 175.0% during the 2nd quarter, Holdings Channel.com reports. The firm owned 990 shares of the asset manager’s stock after purchasing an additional 630 shares during the quarter. CVA Family Office LLC’s holdings in Northern Trust were worth $96,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Comerica Bank increased its holdings in shares of Northern Trust by 6.7% in the 1st quarter. Comerica Bank now owns 35,158 shares of the asset manager’s stock valued at $3,979,000 after acquiring an additional 2,202 shares during the last quarter. Chevy Chase Trust Holdings Inc. increased its holdings in shares of Northern Trust by 0.3% in the 1st quarter. Chevy Chase Trust Holdings Inc. now owns 124,956 shares of the asset manager’s stock valued at $14,550,000 after acquiring an additional 417 shares during the last quarter. Advisory Services Network LLC increased its holdings in shares of Northern Trust by 7.0% in the 1st quarter. Advisory Services Network LLC now owns 17,805 shares of the asset manager’s stock valued at $2,074,000 after acquiring an additional 1,169 shares during the last quarter. State Street Corp increased its holdings in shares of Northern Trust by 3.0% in the 4th quarter. State Street Corp now owns 9,756,050 shares of the asset manager’s stock valued at $1,173,602,000 after acquiring an additional 284,401 shares during the last quarter. Finally, BOKF NA increased its holdings in shares of Northern Trust by 2.3% in the 4th quarter. BOKF NA now owns 13,616 shares of the asset manager’s stock valued at $1,629,000 after acquiring an additional 307 shares during the last quarter. 83.59% of the stock is currently owned by hedge funds and other institutional investors.

Northern Trust Trading Up 2.4 %

Shares of Northern Trust stock opened at $95.41 on Tuesday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.43. The firm has a market cap of $19.88 billion, a price-to-earnings ratio of 12.69 and a beta of 1.12. The business has a fifty day simple moving average of $97.96 and a 200-day simple moving average of $103.70. Northern Trust Co. has a fifty-two week low of $89.68 and a fifty-two week high of $135.15.

Northern Trust (NASDAQ:NTRSGet Rating) last announced its quarterly earnings data on Wednesday, July 20th. The asset manager reported $1.86 earnings per share for the quarter, missing the consensus estimate of $1.93 by ($0.07). The firm had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.77 billion. Northern Trust had a net margin of 23.13% and a return on equity of 14.82%. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.72 EPS. On average, equities analysts forecast that Northern Trust Co. will post 7.45 EPS for the current fiscal year.

Northern Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, October 1st. Stockholders of record on Friday, September 9th will be issued a $0.75 dividend. This is a positive change from Northern Trust’s previous quarterly dividend of $0.70. The ex-dividend date is Thursday, September 8th. This represents a $3.00 annualized dividend and a dividend yield of 3.14%. Northern Trust’s dividend payout ratio is 40.87%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Piper Sandler lowered their price target on Northern Trust from $141.00 to $121.00 and set an “overweight” rating for the company in a report on Friday, June 24th. Wells Fargo & Company lowered their price objective on Northern Trust from $141.00 to $121.00 and set an “overweight” rating for the company in a research note on Friday, July 1st. Morgan Stanley upped their price objective on Northern Trust from $110.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 21st. Credit Suisse Group lowered their price objective on Northern Trust from $106.00 to $99.00 and set an “underperform” rating for the company in a research note on Thursday, July 21st. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Northern Trust from $112.00 to $123.00 and gave the stock a “buy” rating in a research note on Friday, August 12th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Northern Trust currently has a consensus rating of “Moderate Buy” and a consensus target price of $120.19.

Northern Trust Company Profile

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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, Corporate & Institutional Services (C&IS) and Wealth Management.

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Institutional Ownership by Quarter for Northern Trust (NASDAQ:NTRS)

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