Andrew Hill Investment Advisors Inc. Invests $2.80 Million in Northern Trust Corporation $NTRS

Key Points

• Andrew Hill Investment Advisors Inc. acquired 22,080 shares of Northern Trust Corporation, valued at approximately $2,800,000, making it the firm's 20th largest holding.
• The company reported earnings of $2.13 per share, exceeding analysts' expectations, though revenue declined by 26.4% year-over-year.
• Northern Trust's quarterly dividend increased from $0.75 to $0.80 per share, reflecting a yield of 2.5% and a payout ratio of 37.6%.

Andrew Hill Investment Advisors Inc. purchased a new stake in Northern Trust Corporation (NASDAQ:NTRS - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 22,080 shares of the asset manager's stock, valued at approximately $2,800,000. Northern Trust comprises approximately 2.3% of Andrew Hill Investment Advisors Inc.'s holdings, making the stock its 20th largest position.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Massachusetts Financial Services Co. MA boosted its position in shares of Northern Trust by 4.9% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 7,850,088 shares of the asset manager's stock valued at $774,411,000 after purchasing an additional 363,472 shares in the last quarter. Invesco Ltd. boosted its position in shares of Northern Trust by 19.3% during the 1st quarter. Invesco Ltd. now owns 3,443,599 shares of the asset manager's stock valued at $339,711,000 after purchasing an additional 558,287 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Northern Trust by 0.7% during the 1st quarter. American Century Companies Inc. now owns 3,013,123 shares of the asset manager's stock valued at $297,245,000 after purchasing an additional 20,010 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Northern Trust by 47.8% during the 1st quarter. Bank of New York Mellon Corp now owns 1,810,816 shares of the asset manager's stock valued at $178,637,000 after purchasing an additional 585,992 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Northern Trust by 9.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,727,365 shares of the asset manager's stock valued at $177,055,000 after purchasing an additional 150,274 shares in the last quarter. Institutional investors own 83.19% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Keefe, Bruyette & Woods restated an "underperform" rating and set a $118.00 target price (down previously from $120.00) on shares of Northern Trust in a research report on Thursday, July 24th. Wells Fargo & Company upped their price target on Northern Trust from $111.00 to $120.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 24th. Morgan Stanley upped their price target on Northern Trust from $103.00 to $106.00 and gave the stock an "underweight" rating in a research note on Tuesday, July 1st. Wall Street Zen downgraded Northern Trust from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Finally, The Goldman Sachs Group upped their price target on Northern Trust from $89.00 to $101.00 and gave the stock a "sell" rating in a research note on Wednesday, July 2nd. Two analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, Northern Trust currently has an average rating of "Reduce" and a consensus target price of $119.58.

Northern Trust Price Performance

NTRS stock traded down $0.23 during mid-day trading on Monday, hitting $131.27. 258,963 shares of the stock were exchanged, compared to its average volume of 1,529,400. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.72 and a quick ratio of 0.72. The business has a fifty day moving average price of $128.33 and a 200 day moving average price of $112.49. Northern Trust Corporation has a 12 month low of $81.62 and a 12 month high of $133.00. The stock has a market capitalization of $25.10 billion, a price-to-earnings ratio of 15.40, a PEG ratio of 1.56 and a beta of 1.30.

Northern Trust (NASDAQ:NTRS - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The asset manager reported $2.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.05. Northern Trust had a return on equity of 14.06% and a net margin of 11.75%.The firm had revenue of $2 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same quarter in the previous year, the company posted $4.34 earnings per share. The company's revenue was down 26.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Northern Trust Corporation will post 8.27 EPS for the current year.

Northern Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 5th will be issued a $0.80 dividend. This is an increase from Northern Trust's previous quarterly dividend of $0.75. This represents a $3.20 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Friday, September 5th. Northern Trust's dividend payout ratio (DPR) is presently 37.60%.

Insider Activity at Northern Trust

In related news, Director Robert Edward Jr. Moritz acquired 256 shares of the firm's stock in a transaction dated Wednesday, August 13th. The shares were purchased at an average price of $126.34 per share, for a total transaction of $32,343.04. Following the completion of the acquisition, the director owned 2,525 shares in the company, valued at approximately $319,008.50. This represents a 11.28% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.77% of the company's stock.

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.