Opal Capital LLC Takes $1.05 Million Position in Northern Trust Corporation $NTRS

Opal Capital LLC acquired a new stake in shares of Northern Trust Corporation (NASDAQ:NTRS) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 7,518 shares of the asset manager’s stock, valued at approximately $1,049,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. CWM LLC grew its holdings in Northern Trust by 122.6% in the 4th quarter. CWM LLC now owns 48,284 shares of the asset manager’s stock valued at $6,595,000 after buying an additional 26,594 shares during the period. Concurrent Investment Advisors LLC purchased a new position in shares of Northern Trust during the 4th quarter worth about $1,959,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Northern Trust by 1,838.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 180,034 shares of the asset manager’s stock worth $22,793,000 after acquiring an additional 170,745 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Northern Trust by 5.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,894,755 shares of the asset manager’s stock worth $395,395,000 after acquiring an additional 161,826 shares during the last quarter. Finally, PFA Pension Forsikringsaktieselskab acquired a new stake in shares of Northern Trust in the fourth quarter worth approximately $67,126,000. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Insider Activity

In other Northern Trust news, Director Robert Edward Jr. Moritz bought 225 shares of the business’s stock in a transaction dated Friday, May 1st. The shares were acquired at an average price of $166.41 per share, with a total value of $37,442.25. Following the purchase, the director owned 8,145 shares in the company, valued at approximately $1,355,409.45. The trade was a 2.84% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.66% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Morgan Stanley upped their price target on shares of Northern Trust from $170.00 to $173.00 and gave the stock an “underweight” rating in a research report on Thursday, July 23rd. Citigroup lifted their price target on shares of Northern Trust from $162.00 to $172.00 and gave the company a “neutral” rating in a report on Tuesday, June 30th. Zacks Research raised shares of Northern Trust from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. Evercore set a $179.00 price objective on Northern Trust in a report on Monday, July 6th. Finally, BMO Capital Markets raised Northern Trust from a “market perform” rating to an “outperform” rating and set a $168.00 target price on the stock in a research report on Monday, April 6th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $180.25.

Northern Trust Stock Down 0.9%

NTRS opened at $180.86 on Wednesday. Northern Trust Corporation has a 1 year low of $121.12 and a 1 year high of $191.60. The firm has a 50 day moving average price of $175.47 and a 200 day moving average price of $158.51. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.62 and a current ratio of 0.65. The company has a market cap of $33.47 billion, a PE ratio of 15.52, a price-to-earnings-growth ratio of 1.14 and a beta of 1.25.

Northern Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 4th will be given a $0.88 dividend. The ex-dividend date of this dividend is Friday, September 4th. This is an increase from Northern Trust’s previous quarterly dividend of $0.80. This represents a $3.52 annualized dividend and a dividend yield of 1.9%. Northern Trust’s dividend payout ratio (DPR) is currently 27.47%.

Northern Trust Company Profile

Northern Trust Corporation (NASDAQ: NTRS) is a global financial services firm headquartered in Chicago that provides asset servicing, asset management and wealth management solutions to institutions, corporations and high-net-worth individuals. The company’s core businesses include custody and fund administration, investment operations outsourcing, trust and fiduciary services, private banking, and retirement and defined contribution plan services.

Northern Trust’s product and service offerings span custody and fund accounting, portfolio and performance analytics, securities lending, cash management and foreign exchange, as well as discretionary and non-discretionary investment management.