Cullen Frost Bankers Inc. Buys 719 Shares of Northern Trust Corporation $NTRS

Cullen Frost Bankers Inc. grew its stake in shares of Northern Trust Corporation (NASDAQ:NTRS) by 84.8% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 1,567 shares of the asset manager’s stock after purchasing an additional 719 shares during the period. Cullen Frost Bankers Inc.’s holdings in Northern Trust were worth $199,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NTRS. GAMMA Investing LLC boosted its stake in shares of Northern Trust by 5.8% in the 1st quarter. GAMMA Investing LLC now owns 4,517 shares of the asset manager’s stock worth $446,000 after buying an additional 249 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Northern Trust by 9.1% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 16,317 shares of the asset manager’s stock worth $1,610,000 after buying an additional 1,358 shares during the last quarter. Oppenheimer & Co. Inc. boosted its stake in shares of Northern Trust by 9.4% in the 1st quarter. Oppenheimer & Co. Inc. now owns 4,443 shares of the asset manager’s stock worth $438,000 after buying an additional 380 shares during the last quarter. Asset Management One Co. Ltd. boosted its stake in shares of Northern Trust by 8.4% in the 1st quarter. Asset Management One Co. Ltd. now owns 84,974 shares of the asset manager’s stock worth $8,383,000 after buying an additional 6,570 shares during the last quarter. Finally, Achmea Investment Management B.V. boosted its stake in shares of Northern Trust by 1,299.7% in the 1st quarter. Achmea Investment Management B.V. now owns 115,024 shares of the asset manager’s stock worth $11,348,000 after buying an additional 106,806 shares during the last quarter. 83.19% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on NTRS. Citigroup increased their target price on Northern Trust from $110.00 to $135.00 and gave the stock a “neutral” rating in a research report on Friday, September 5th. Barclays increased their target price on Northern Trust from $128.00 to $136.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 24th. BMO Capital Markets began 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. Truist Financial dropped their target price on Northern Trust from $142.00 to $139.00 and set a “hold” rating on the stock in a research report on Thursday. Finally, The Goldman Sachs Group set a $135.00 target price on Northern Trust in a research report on Tuesday, September 30th. Five investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $130.71.

Northern Trust Trading Up 1.0%

Northern Trust stock opened at $126.03 on Friday. The stock has a market cap of $24.10 billion, a P/E ratio of 14.69, a PEG ratio of 1.41 and a beta of 1.31. Northern Trust Corporation has a fifty-two week low of $81.62 and a fifty-two week high of $135.48. The firm’s fifty day moving average price is $129.59 and its 200-day moving average price is $118.12. 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 (NASDAQ:NTRS) last released 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. 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 business’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.22 earnings per share. Equities research analysts forecast that Northern Trust Corporation will post 8.27 earnings per share for the current fiscal year.

Northern Trust Announces Dividend

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

Insider Buying and Selling

In other news, Director Robert Edward Jr. Moritz bought 256 shares of Northern Trust stock in a transaction that occurred on Wednesday, August 13th. The shares were acquired at an average price of $126.34 per share, with a total value of $32,343.04. Following the completion of the purchase, the director directly owned 2,525 shares in the company, valued at $319,008.50. The trade was a 11.28% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 0.77% of the stock is currently owned by corporate insiders.

Northern Trust Company 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.