Jupiter Topco LLC Buys Shares of 22,366 Northern Trust Corporation $NTRS

Jupiter Topco LLC purchased a new position in shares of Northern Trust Corporation (NASDAQ:NTRS) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 22,366 shares of the asset manager’s stock, valued at approximately $3,888,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Reflection Asset Management acquired a new position in Northern Trust during the fourth quarter worth $25,000. Triumph Capital Management acquired a new stake in shares of Northern Trust in the third quarter valued at $25,000. Basecamp Wealth Advisors LLC grew its stake in shares of Northern Trust by 99.0% in the first quarter. Basecamp Wealth Advisors LLC now owns 203 shares of the asset manager’s stock valued at $28,000 after buying an additional 101 shares in the last quarter. Keating Financial Advisory Services Inc. purchased a new stake in shares of Northern Trust in the 2nd quarter valued at $31,000. Finally, Elyxium Wealth LLC acquired a new position in Northern Trust during the 4th quarter worth about $34,000. 83.19% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Northern Trust

In other news, EVP Thomas A. South sold 1,800 shares of the company’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $184.90, for a total value of $332,820.00. Following the completion of the transaction, the executive vice president 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 filing with the SEC, which is accessible through this link. Also, Director Robert Edward Jr. Moritz acquired 255 shares of the firm’s stock in a transaction on Wednesday, July 29th. The stock was bought at an average price of $179.57 per share, with a total value of $45,790.35. Following the purchase, the director directly owned 8,400 shares of the company’s stock, valued at $1,508,388. This represents a 3.13% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 0.66% of the company’s stock.

Northern Trust Stock Down 1.6%

Shares of Northern Trust stock opened at $182.68 on Wednesday. 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 52-week low of $121.12 and a 52-week high of $195.78. The company has a market capitalization of $33.42 billion, a P/E ratio of 15.68, a P/E/G ratio of 1.04 and a beta of 1.24. The company has a 50 day moving average of $183.19 and a 200 day moving average of $165.13.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings data on Wednesday, July 22nd. The asset manager reported $4.23 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $2.69 billion. During the same period in the prior year, the firm posted $2.13 EPS. The company’s quarterly revenue was up 35.1% compared to the same quarter last year. As a group, research analysts forecast that Northern Trust Corporation will post 11.59 EPS for the current fiscal year.

Northern Trust Increases Dividend

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

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Keefe, Bruyette & Woods lifted their target price on Northern Trust from $157.00 to $175.00 and gave the company an “underperform” rating in a research report on Thursday, July 9th. Evercore set a $179.00 price target on shares of Northern Trust in a research report on Monday, July 6th. Wells Fargo & Company raised their price objective on shares of Northern Trust from $189.00 to $194.00 and gave the company an “equal weight” rating in a research note on Thursday, July 23rd. Truist Financial lifted their price objective on shares of Northern Trust from $176.00 to $186.00 and gave the company a “hold” rating in a report on Friday, June 26th. Finally, Morgan Stanley upped 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. Four analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $180.68.

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.