Wealthfront Advisers LLC Invests $3.43 Million in Northern Trust Corporation $NTRS

Wealthfront Advisers LLC purchased a new stake in shares of Northern Trust Corporation (NASDAQ:NTRS) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 19,734 shares of the asset manager’s stock, valued at approximately $3,431,000.

Several other institutional investors and hedge funds also recently made changes to their positions in NTRS. BlackRock Inc. bought a new stake in shares of Northern Trust in the 2nd quarter worth $2,523,781,000. State Street Corp lifted its holdings in shares of Northern Trust by 1.0% during the third quarter. State Street Corp now owns 9,493,634 shares of the asset manager’s stock valued at $1,285,236,000 after purchasing an additional 97,584 shares in the last quarter. Invesco Ltd. boosted its position in shares of Northern Trust by 8.7% during the fourth quarter. Invesco Ltd. now owns 3,747,840 shares of the asset manager’s stock valued at $511,917,000 after buying an additional 301,164 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Northern Trust by 5.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,894,755 shares of the asset manager’s stock valued at $395,395,000 after buying an additional 161,826 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Northern Trust by 1.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,455,996 shares of the asset manager’s stock worth $342,744,000 after buying an additional 36,322 shares in the last quarter. Institutional investors own 83.19% of the company’s stock.

Insider Buying and Selling

In other Northern Trust news, Director Robert Edward Jr. Moritz bought 255 shares of Northern Trust stock in a transaction on Wednesday, July 29th. The stock was acquired at an average cost of $179.57 per share, with a total value of $45,790.35. Following the completion of the acquisition, the director owned 8,400 shares in the company, valued at approximately $1,508,388. This represents a 3.13% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.66% of the company’s stock.

Northern Trust Stock Down 1.6%

NTRS stock opened at $182.51 on Friday. Northern Trust Corporation has a fifty-two week low of $121.12 and a fifty-two week high of $195.78. The business’s 50-day moving average is $181.32 and its two-hundred day moving average is $163.13. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.65 and a current ratio of 0.65. The company has a market cap of $33.39 billion, a price-to-earnings ratio of 15.67, a P/E/G ratio of 1.04 and a beta of 1.25.

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

Northern Trust Increases Dividend

The firm also recently announced 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 represents a $3.52 annualized dividend and a yield of 1.9%. This is a positive change from Northern Trust’s previous quarterly dividend of $0.80. The ex-dividend date is Friday, September 4th. Northern Trust’s dividend payout ratio (DPR) is presently 27.47%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on NTRS shares. Morgan Stanley boosted their target price on Northern Trust from $170.00 to $173.00 and gave the stock an “underweight” rating in a research report on Thursday, July 23rd. Zacks Research upgraded shares of Northern Trust from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. Bank of America boosted their price objective on shares of Northern Trust from $190.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Barclays increased their price objective on shares of Northern Trust from $176.00 to $189.00 and gave the company an “equal weight” rating in a research report on Thursday, July 23rd. Finally, UBS Group set a $186.00 target price on shares of Northern Trust in a report on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $180.68.

Northern Trust 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.