Callan Family Office LLC Buys Shares of 3,006 Northern Trust Corporation $NTRS

Callan Family Office LLC purchased a new position in shares of Northern Trust Corporation (NASDAQ:NTRS) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,006 shares of the asset manager’s stock, valued at approximately $523,000.

Other institutional investors also recently made changes to their positions in the company. Keating Financial Advisory Services Inc. purchased a new stake in Northern Trust during the 2nd quarter worth about $31,000. Triumph Capital Management purchased a new position in Northern Trust in the 3rd quarter valued at about $25,000. Reflection Asset Management purchased a new position in Northern Trust in the 4th quarter valued at about $25,000. Basecamp Wealth Advisors LLC grew its holdings in shares of Northern Trust by 99.0% during the first quarter. Basecamp Wealth Advisors LLC now owns 203 shares of the asset manager’s stock worth $28,000 after buying an additional 101 shares in the last quarter. Finally, Clearstead Trust LLC purchased a new stake in shares of Northern Trust during the second quarter worth about $37,000. 83.19% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on NTRS shares. JPMorgan Chase & Co. upped their price objective on shares of Northern Trust from $179.50 to $185.50 and gave the company a “neutral” rating in a research note on Tuesday, August 4th. Morgan Stanley lifted their target price on shares of Northern Trust from $170.00 to $173.00 and gave the stock an “underweight” rating in a research note on Thursday, July 23rd. Royal Bank Of Canada downgraded Northern Trust from an “outperform” rating to a “sector perform” rating and set a $178.00 price target for the company. in a report on Wednesday, July 22nd. Citigroup increased their price target on Northern Trust from $162.00 to $172.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 30th. Finally, Wells Fargo & Company raised their price objective on Northern Trust from $189.00 to $194.00 and gave the stock an “equal weight” rating in a report on Thursday, July 23rd. One investment 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 given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Northern Trust has an average rating of “Hold” and an average price target of $180.68.

Northern Trust Trading Up 0.1%

Shares of NTRS stock opened at $186.82 on Wednesday. The stock has a market cap of $34.18 billion, a price-to-earnings ratio of 16.04, a price-to-earnings-growth ratio of 1.05 and a beta of 1.25. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.43. Northern Trust Corporation has a fifty-two week low of $121.12 and a fifty-two week high of $195.78. The firm’s 50 day moving average price is $182.03 and its two-hundred day moving average price is $163.87.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings data on Wednesday, July 22nd. The asset manager reported $4.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.71 by $1.52. Northern Trust had a net margin of 14.76% and a return on equity of 16.91%. The company had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.69 billion. During the same quarter in the prior year, the business earned $2.13 earnings per share. The business’s quarterly revenue was up 35.1% compared to the same quarter last year. On average, analysts anticipate that Northern Trust Corporation will post 11.59 EPS for the current year.

Northern Trust Increases Dividend

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

Insider Buying and Selling at Northern Trust

In related news, EVP Thomas A. South sold 1,800 shares of the stock in a transaction on Monday, August 24th. The stock was sold at an average price of $184.90, for a total value of $332,820.00. Following the completion of the sale, the executive vice president directly owned 92,917 shares in the company, valued at approximately $17,180,353.30. This represents a 1.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert Edward Jr. Moritz acquired 255 shares of the business’s stock in a transaction on Wednesday, July 29th. The stock was bought at an average cost of $179.57 per share, for a total transaction of $45,790.35. Following the completion of the transaction, the director directly owned 8,400 shares of the company’s stock, valued at $1,508,388. This trade represents a 3.13% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.66% of the stock is currently owned by corporate insiders.

About Northern Trust

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.