Cetera Investment Advisers Increases Stock Position in Northern Trust Corporation $NTRS

Cetera Investment Advisers boosted its holdings in shares of Northern Trust Corporation (NASDAQ:NTRS) by 9.7% during the 1st quarter, HoldingsChannel reports. The firm owned 68,948 shares of the asset manager’s stock after purchasing an additional 6,109 shares during the period. Cetera Investment Advisers’ holdings in Northern Trust were worth $9,623,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Danica Pension Livsforsikringsaktieselskab acquired a new position in shares of Northern Trust during the first quarter worth about $7,571,000. ABN Amro Investment Solutions lifted its position in Northern Trust by 39.2% in the first quarter. ABN Amro Investment Solutions now owns 9,454 shares of the asset manager’s stock valued at $1,319,000 after purchasing an additional 2,660 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Northern Trust by 7.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 127,666 shares of the asset manager’s stock valued at $17,818,000 after purchasing an additional 8,663 shares in the last quarter. Oslo Pensjonsforsikring AS purchased a new stake in Northern Trust in the 1st quarter valued at approximately $278,000. Finally, Baader Bank Aktiengesellschaft acquired a new position in Northern Trust during the 1st quarter worth approximately $408,000. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Northern Trust Stock Up 2.7%

NTRS opened at $182.51 on Friday. The firm has a market cap of $33.77 billion, a P/E ratio of 15.67, a PEG ratio of 1.00 and a beta of 1.25. The business’s fifty day simple moving average is $176.01 and its 200 day simple moving average is $159.01. Northern Trust Corporation has a 52 week low of $121.12 and a 52 week high of $191.60. The company has a quick ratio of 0.62, a current ratio of 0.65 and a debt-to-equity ratio of 0.43.

Northern Trust Increases Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. JPMorgan Chase & Co. increased their price objective on Northern Trust from $170.00 to $179.50 and gave the stock a “neutral” rating in a research report on Monday, July 6th. Keefe, Bruyette & Woods upped their price target on shares of Northern Trust from $157.00 to $175.00 and gave the stock an “underperform” rating in a research note on Thursday, July 9th. Citigroup increased 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 upgraded shares of Northern Trust from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. Finally, Truist Financial boosted their price objective on shares of Northern Trust from $176.00 to $186.00 and gave the stock a “hold” rating in a report on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Northern Trust currently has a consensus rating of “Hold” and a consensus target price of $180.25.

Insider Transactions at Northern Trust

In related news, Director Robert Edward Jr. Moritz purchased 255 shares of the business’s stock in a transaction on Wednesday, July 29th. The shares were bought at an average price of $179.57 per share, with a total value of $45,790.35. Following the completion of the purchase, the director directly owned 8,400 shares in the company, valued at approximately $1,508,388. This trade represents a 3.13% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.66% of the company’s stock.

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.