Northern Trust Co. (NASDAQ:NTRS) Holdings Raised by Tidal Investments LLC (2024)

Tidal Investments LLC increased its holdings in Northern Trust Co. (NASDAQ:NTRS – Free Report) by 141.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,771 shares of the asset manager’s stock after acquiring an additional 8,063 shares during the period. Tidal Investments LLC’s holdings in Northern Trust were worth $1,224,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of NTRS. Raymond James Financial Services Advisors Inc. increased its position in Northern Trust by 59.2% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 11,996 shares of the asset manager’s stock worth $1,012,000 after purchasing an additional 4,460 shares during the last quarter. Ballentine Partners LLC acquired a new position in shares of Northern Trust during the 4th quarter valued at about $272,000. Park Place Capital Corp acquired a new position in shares of Northern Trust during the 4th quarter valued at about $57,000. Allworth Financial LP increased its holdings in shares of Northern Trust by 94.1% during the 4th quarter. Allworth Financial LP now owns 359 shares of the asset manager’s stock valued at $30,000 after acquiring an additional 174 shares during the last quarter. Finally, New York State Teachers Retirement System increased its holdings in shares of Northern Trust by 6.2% during the 4th quarter. New York State Teachers Retirement System now owns 221,263 shares of the asset manager’s stock valued at $18,670,000 after acquiring an additional 13,006 shares during the last quarter. 83.19% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Peter Cherecwich sold 12,000 shares of Northern Trust stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $87.09, for a total transaction of $1,045,080.00. Following the completion of the sale, the insider now directly owns 31,471 shares of the company’s stock, valued at $2,740,809.39. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.64% of the stock is owned by insiders.

Northern Trust Price Performance

Shares of NTRS stock opened at $84.89 on Monday. The stock has a 50 day moving average of $84.60 and a two-hundred day moving average of $83.60. The company has a market capitalization of $17.37 billion, a P/E ratio of 18.74, a P/E/G ratio of 1.29 and a beta of 1.10. Northern Trust Co. has a 12 month low of $62.44 and a 12 month high of $92.46. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58.

Northern Trust (NASDAQ:NTRS – Get Free Report) last announced its quarterly earnings data on Wednesday, July 17th. The asset manager reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.03. Northern Trust had a return on equity of 12.24% and a net margin of 10.53%. The business had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same period in the previous year, the firm earned $1.79 earnings per share. The firm’s quarterly revenue was up 53.8% compared to the same quarter last year. As a group, equities analysts expect that Northern Trust Co. will post 7.02 EPS for the current year.

Northern Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 6th will be paid a dividend of $0.75 per share. The ex-dividend date is Friday, September 6th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.53%. Northern Trust’s dividend payout ratio (DPR) is presently 66.23%.

Wall Street Analyst Weigh In

NTRS has been the topic of a number of analyst reports. Morgan Stanley lowered their price objective on Northern Trust from $97.00 to $93.00 and set an “underweight” rating on the stock in a report on Tuesday, July 30th. Jefferies Financial Group increased their price objective on Northern Trust from $101.00 to $103.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Keefe, Bruyette & Woods lowered their price objective on Northern Trust from $92.00 to $85.00 and set a “market perform” rating on the stock in a report on Thursday, June 27th. The Goldman Sachs Group lowered their price objective on Northern Trust from $94.00 to $84.00 and set a “neutral” rating on the stock in a report on Tuesday, July 2nd. Finally, Royal Bank of Canada increased their price objective on Northern Trust from $86.00 to $90.00 and gave the company an “outperform” rating in a report on Thursday, July 18th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Northern Trust currently has an average rating of “Hold” and an average target price of $87.33.

Read Our Latest Stock Analysis on NTRS

Northern Trust Profile

(Free Report)

Northern Trust Corporation, a financial holding company, provides wealth management, asset servicing, asset management, and banking solutions for corporations, institutions, families, and individuals worldwide. It operates in two segments, Asset Servicing and Wealth Management. The Asset Servicing segment offers asset servicing and related services, including custody, fund administration, investment operations outsourcing, investment management, investment risk and analytical services, employee benefit services, securities lending, foreign exchange, treasury management, brokerage services, transition management services, banking, and cash management services.

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