C M Bidwell & Associates Ltd. Makes New $639,000 Investment in Northern Trust Corporation $NTRS

C M Bidwell & Associates Ltd. purchased a new stake in Northern Trust Corporation (NASDAQ:NTRS) during the 2nd quarter, HoldingsChannel reports. The firm purchased 3,674 shares of the asset manager’s stock, valued at approximately $639,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Keating Financial Advisory Services Inc. purchased a new position in shares of Northern Trust in the second quarter worth $31,000. Triumph Capital Management purchased a new position in shares of Northern Trust in the third quarter worth approximately $25,000. Reflection Asset Management bought a new stake in shares of Northern Trust during the 4th quarter valued at $25,000. Basecamp Wealth Advisors LLC grew its stake in shares of Northern Trust by 99.0% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 203 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 101 shares during the period. Finally, Clearstead Trust LLC purchased a new stake in Northern Trust during the second quarter valued at approximately $37,000. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Insider Transactions at Northern Trust

In related news, Director Robert Edward Jr. Moritz bought 255 shares of the firm’s stock in a transaction that occurred on Wednesday, July 29th. The shares were acquired at an average cost of $179.57 per share, with a total value of $45,790.35. Following the completion of the transaction, the director owned 8,400 shares of the company’s stock, valued at approximately $1,508,388. The trade was a 3.13% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.66% of the company’s stock.

Northern Trust Trading Up 0.8%

NASDAQ NTRS opened at $183.90 on Friday. 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 firm has a market cap of $33.65 billion, a price-to-earnings ratio of 15.79, a PEG ratio of 1.03 and a beta of 1.25. The firm has a 50 day simple moving average of $181.52 and a 200-day simple moving average of $163.27. Northern Trust Corporation has a one year low of $121.12 and a one year high of $195.78.

Northern Trust (NASDAQ:NTRS) last issued its earnings results on Wednesday, July 22nd. The asset manager reported $4.23 EPS for the quarter, topping 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 firm had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.69 billion. During the same quarter in the previous year, the firm posted $2.13 earnings per share. The company’s revenue was up 35.1% compared to the same quarter last year. Equities research analysts anticipate that Northern Trust Corporation will post 11.59 EPS for the current fiscal year.

Northern Trust Increases Dividend

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

Analyst Upgrades and Downgrades

Several research analysts recently commented on NTRS shares. Zacks Research raised shares of Northern Trust from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. Barclays boosted their price objective on shares of Northern Trust from $176.00 to $189.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 23rd. JPMorgan Chase & Co. raised their price target on Northern Trust from $179.50 to $185.50 and gave the stock a “neutral” rating in a report on Tuesday, August 4th. Evercore set a $179.00 price objective on shares of Northern Trust in a report on Monday, July 6th. Finally, Citigroup increased their price target on shares of Northern Trust from $162.00 to $172.00 and gave the stock a “neutral” rating in a report on Tuesday, June 30th. 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 given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target 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.