Ameritas Advisory Services LLC Acquires New Stake in Northern Trust Corporation $NTRS

Ameritas Advisory Services LLC purchased a new position in shares of Northern Trust Corporation (NASDAQ:NTRS) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 569 shares of the asset manager’s stock, valued at approximately $72,000.

Other institutional investors also recently modified their holdings of the company. Continuum Advisory LLC increased its stake in shares of Northern Trust by 5,340.0% during the 1st quarter. Continuum Advisory LLC now owns 272 shares of the asset manager’s stock worth $27,000 after purchasing an additional 267 shares during the last quarter. Zions Bancorporation National Association UT acquired a new position in Northern Trust in the 1st quarter valued at about $29,000. Wayfinding Financial LLC acquired a new position in Northern Trust in the 1st quarter valued at about $35,000. Harbor Investment Advisory LLC grew its stake in Northern Trust by 68.4% in the 2nd quarter. Harbor Investment Advisory LLC now owns 320 shares of the asset manager’s stock valued at $41,000 after buying an additional 130 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new position in Northern Trust in the 1st quarter valued at about $43,000. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Northern Trust Trading Down 4.1%

NTRS opened at $124.72 on Friday. Northern Trust Corporation has a twelve month low of $81.62 and a twelve month high of $135.48. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.58. The company has a fifty day moving average of $129.46 and a 200-day moving average of $115.72. The stock has a market cap of $23.85 billion, a PE ratio of 14.66, a price-to-earnings-growth ratio of 1.40 and a beta of 1.31.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings results on Wednesday, July 23rd. The asset manager reported $2.13 EPS for the quarter, topping analysts’ consensus estimates of $2.08 by $0.05. Northern Trust had a net margin of 11.75% and a return on equity of 14.06%. The business had revenue of $2 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same period last year, the company posted $4.34 earnings per share. The business’s quarterly revenue was down 26.4% on a year-over-year basis. On average, sell-side analysts predict that Northern Trust Corporation will post 8.27 EPS for the current year.

Northern Trust Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Friday, September 5th were given a dividend of $0.80 per share. 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. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.6%. Northern Trust’s payout ratio is 37.60%.

Insider Buying and Selling at Northern Trust

In other news, Director Robert Edward Jr. Moritz purchased 256 shares of the company’s stock in a transaction that occurred on Wednesday, August 13th. The shares were bought at an average cost of $126.34 per share, with a total value of $32,343.04. Following the completion of the transaction, the director directly owned 2,525 shares of the company’s stock, valued at approximately $319,008.50. This trade represents a 11.28% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.77% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Morgan Stanley upped their price target on shares of Northern Trust from $110.00 to $131.00 and gave the company an “underweight” rating in a research note on Monday, September 29th. TD Cowen initiated coverage on shares of Northern Trust in a report on Thursday, September 25th. They issued a “buy” rating for the company. BMO Capital Markets initiated coverage on shares of Northern Trust in a report on Friday, October 3rd. They issued a “market perform” rating and a $142.00 price objective for the company. Citigroup boosted their price objective on shares of Northern Trust from $110.00 to $135.00 and gave the company a “neutral” rating in a report on Friday, September 5th. Finally, Wolfe Research raised shares of Northern Trust from an “underperform” rating to a “peer perform” rating in a report on Thursday, July 24th. Four equities 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 company. According to MarketBeat.com, Northern Trust presently has an average rating of “Hold” and a consensus price target of $128.23.

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.