Northern Trust Corporation $NTRS Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. raised its holdings in shares of Northern Trust Corporation (NASDAQ:NTRS) by 17.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 207,691 shares of the asset manager’s stock after buying an additional 30,383 shares during the period. Envestnet Asset Management Inc. owned about 0.11% of Northern Trust worth $26,333,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. FNY Investment Advisers LLC purchased a new stake in shares of Northern Trust during the second quarter valued at approximately $25,000. Zions Bancorporation National Association UT bought a new stake in Northern Trust during the first quarter valued at $29,000. Wayfinding Financial LLC acquired a new position in shares of Northern Trust during the first quarter valued at $35,000. GFG Capital LLC acquired a new position in shares of Northern Trust during the second quarter valued at $35,000. Finally, Harbor Investment Advisory LLC lifted its holdings in Northern Trust by 68.4% in the second quarter. Harbor Investment Advisory LLC now owns 320 shares of the asset manager’s stock worth $41,000 after purchasing an additional 130 shares during the period. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Wells Fargo & Company upped their price target on shares of Northern Trust from $127.00 to $131.00 and gave the company an “equal weight” rating in a report on Thursday, October 23rd. Weiss Ratings reissued a “buy (b-)” rating on shares of Northern Trust in a research report on Wednesday, October 8th. TD Cowen raised their price objective on shares of Northern Trust from $152.00 to $155.00 and gave the company a “buy” rating in a research report on Thursday, October 23rd. The Goldman Sachs Group set a $135.00 price target on Northern Trust in a report on Tuesday, September 30th. Finally, Keefe, Bruyette & Woods raised their target price on Northern Trust from $123.00 to $125.00 and gave the company an “underperform” rating in a report on Thursday, October 23rd. 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 company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $130.71.

Northern Trust Stock Down 0.8%

Shares of NASDAQ NTRS opened at $127.68 on Tuesday. The stock has a market cap of $24.42 billion, a PE ratio of 14.88, a PEG ratio of 1.37 and a beta of 1.31. The business has a fifty day moving average of $129.46 and a two-hundred day moving average of $120.11. Northern Trust Corporation has a 52-week low of $81.62 and a 52-week high of $135.48. 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 issued its quarterly earnings data on Wednesday, October 22nd. The asset manager reported $2.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.03. The company had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.02 billion. Northern Trust had a return on equity of 14.37% and a net margin of 11.99%.The business’s revenue was up 2.8% on a year-over-year basis. During the same period last year, the business earned $2.22 earnings per share. As a group, equities research analysts expect that Northern Trust Corporation will post 8.27 earnings per share for the current fiscal year.

Northern Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 1st. Stockholders of record on Friday, December 5th will be paid 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 of this dividend is Friday, December 5th. Northern Trust’s dividend payout ratio is 37.30%.

Insider Activity at Northern Trust

In other Northern Trust news, Director Robert Edward Jr. Moritz purchased 270 shares of the company’s stock in a transaction that occurred on Monday, October 27th. The stock was acquired at an average cost of $126.66 per share, with a total value of $34,198.20. Following the completion of the purchase, the director directly owned 2,795 shares in the company, valued at approximately $354,014.70. This represents a 10.69% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.77% of the stock is currently owned by corporate insiders.

About Northern Trust

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.