Claro Advisors LLC Raises Position in Northern Trust Co. (NASDAQ:NTRS)

Claro Advisors LLC boosted its holdings in shares of Northern Trust Co. (NASDAQ:NTRS) by 18.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,439 shares of the asset manager’s stock after buying an additional 1,460 shares during the period. Claro Advisors LLC’s holdings in Northern Trust were worth $839,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Spartan Planning & Wealth Management boosted its stake in Northern Trust by 10,566.7% in the 4th quarter. Spartan Planning & Wealth Management now owns 320 shares of the asset manager’s stock worth $27,000 after purchasing an additional 317 shares in the last quarter. Fortitude Family Office LLC purchased a new stake in Northern Trust during the 4th quarter valued at about $28,000. Quent Capital LLC raised its stake in shares of Northern Trust by 77.8% in the fourth quarter. Quent Capital LLC now owns 361 shares of the asset manager’s stock worth $30,000 after purchasing an additional 158 shares during the last quarter. Allworth Financial LP boosted its position in Northern Trust by 94.1% in the fourth quarter. Allworth Financial LP now owns 359 shares of the asset manager’s stock valued at $30,000 after buying an additional 174 shares during the last quarter. Finally, Bruce G. Allen Investments LLC acquired a new position in Northern Trust in the 4th quarter worth approximately $45,000. 83.19% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NTRS has been the topic of a number of research reports. Evercore ISI increased their price objective on shares of Northern Trust from $86.00 to $87.00 and gave the stock an “in-line” rating in a research note on Thursday, April 4th. Jefferies Financial Group boosted 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 reduced their price target on Northern Trust from $92.00 to $85.00 and set a “market perform” rating for the company in a research report on Thursday, June 27th. Finally, Bank of America boosted their target price on shares of Northern Trust from $93.00 to $101.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Northern Trust presently has a consensus rating of “Hold” and an average price target of $85.75.

Insider Activity

In related news, insider Steven L. Fradkin sold 4,097 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $82.56, for a total value of $338,248.32. Following the sale, the insider now directly owns 46,078 shares in the company, valued at approximately $3,804,199.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Steven L. Fradkin sold 4,097 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $82.56, for a total transaction of $338,248.32. Following the completion of the transaction, the insider now directly owns 46,078 shares in the company, valued at $3,804,199.68. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Peter Cherecwich sold 12,000 shares of Northern Trust stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $87.09, for a total value 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 disclosure for this sale can be found here. Corporate insiders own 0.64% of the company’s stock.

Northern Trust Stock Down 0.2 %

NTRS stock opened at $83.83 on Tuesday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. The firm has a 50-day moving average of $83.62 and a two-hundred day moving average of $83.18. Northern Trust Co. has a 12 month low of $62.44 and a 12 month high of $89.25. The company has a market cap of $17.15 billion, a price-to-earnings ratio of 18.51, a PEG ratio of 1.19 and a beta of 1.10.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings data on Tuesday, April 16th. The asset manager reported $1.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.23. The firm had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.79 billion. Northern Trust had a net margin of 7.59% and a return on equity of 12.57%. As a group, analysts forecast that Northern Trust Co. will post 6.88 earnings per share for the current fiscal year.

Northern Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 7th were given a $0.75 dividend. The ex-dividend date of this dividend was Friday, June 7th. This represents a $3.00 dividend on an annualized basis and a yield of 3.58%. Northern Trust’s dividend payout ratio is currently 66.23%.

Northern Trust Company Profile

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.