Quadrant Capital Group LLC Acquires 3,993 Shares of Northern Trust Corporation $NTRS

Quadrant Capital Group LLC increased its holdings in Northern Trust Corporation by 58.7% in Q2, acquiring 3,993 shares. Other investors also modified their holdings. Insider trading included sales and purchases by company insiders. Analysts have mixed ratings for Northern Trust, with a consensus "Hold" rating and an average target price of $132.46. Northern Trust's stock opened at $131.34, with a market cap of $24.84 billion.

Quadrant Capital Group LLC grew its holdings in Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 58.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,793 shares of the asset manager's stock after acquiring an additional 3,993 shares during the quarter. Quadrant Capital Group LLC's holdings in Northern Trust were worth $1,368,000 at the end of the most recent reporting period.

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A number of other hedge funds also recently modified their holdings of the business. Cullen Frost Bankers Inc. raised its holdings in Northern Trust by 84.8% during the second quarter. Cullen Frost Bankers Inc. now owns 1,567 shares of the asset manager's stock worth $199,000 after acquiring an additional 719 shares in the last quarter. LPL Financial LLC grew its stake in Northern Trust by 48.4% in the first quarter. LPL Financial LLC now owns 67,068 shares of the asset manager's stock valued at $6,616,000 after purchasing an additional 21,884 shares in the last quarter. First Pacific Financial acquired a new position in shares of Northern Trust during the 2nd quarter worth approximately $3,118,000. Atria Wealth Solutions Inc. raised its stake in shares of Northern Trust by 87.7% during the 1st quarter. Atria Wealth Solutions Inc. now owns 5,568 shares of the asset manager's stock worth $553,000 after purchasing an additional 2,601 shares in the last quarter. Finally, Aviva PLC boosted its holdings in shares of Northern Trust by 8.4% in the 2nd quarter. Aviva PLC now owns 149,911 shares of the asset manager's stock valued at $19,007,000 after buying an additional 11,587 shares during the last quarter. Institutional investors and hedge funds own 83.19% of the company's stock.

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Insider Buying and Selling at Northern Trust

In related news, insider John Landers sold 766 shares of the company's stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $124.35, for a total value of $95,252.10. Following the transaction, the insider directly owned 7,313 shares in the company, valued at approximately $909,371.55. This represents a 9.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robert Edward Jr. Moritz purchased 3,891 shares of the stock in a transaction that occurred on Tuesday, November 4th. The shares were acquired at an average cost of $128.57 per share, for a total transaction of $500,265.87. Following the completion of the transaction, the director owned 6,686 shares of the company's stock, valued at $859,619.02. This trade represents a 139.21% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 0.77% of the company's stock.

Analyst Upgrades and Downgrades

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NTRS has been the topic of a number of recent analyst reports. Zacks Research downgraded shares of Northern Trust from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 9th. Citigroup lifted their price objective on shares of Northern Trust from $110.00 to $135.00 and gave the company a "neutral" rating in a research report on Friday, September 5th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Northern Trust in a report on Wednesday, October 8th. Truist Financial cut their target price on shares of Northern Trust from $142.00 to $139.00 and set a "hold" rating for the company in a research note on Thursday, October 23rd. Finally, Morgan Stanley boosted their price target on Northern Trust from $110.00 to $131.00 and gave the stock an "underweight" rating in a research report on Monday, September 29th. Five equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $132.46.

Read Our Latest Research Report on NTRS

Northern Trust Stock Performance

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Shares of NTRS stock opened at $131.34 on Friday. Northern Trust Corporation has a 52 week low of $81.62 and a 52 week high of $135.48. The company has a market capitalization of $24.84 billion, a price-to-earnings ratio of 15.31, a PEG ratio of 1.37 and a beta of 1.32. The company has a 50-day simple moving average of $128.94 and a 200 day simple moving average of $124.33. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.72 and a current ratio of 0.70.

Northern Trust (NASDAQ:NTRS - Get Free Report) last released its quarterly earnings results on Wednesday, October 22nd. The asset manager reported $2.29 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.03. Northern Trust had a net margin of 11.99% and a return on equity of 14.37%. The firm had revenue of $2.03 billion for the quarter, compared to analysts' expectations of $2.02 billion. During the same period in the prior year, the firm earned $2.22 EPS. The business's revenue was up 2.8% on a year-over-year basis. On average, sell-side analysts predict that Northern Trust Corporation will post 8.27 earnings per share for the current year.

Northern Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 1st. Investors of record on Friday, December 5th will be paid a $0.80 dividend. The ex-dividend date is Friday, December 5th. This represents a $3.20 annualized dividend and a yield of 2.4%. Northern Trust's payout ratio is 37.30%.

About Northern Trust

(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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