Carlson Capital L.P. Makes New $404,000 Investment in Northern Trust Corporation $NTRS

Key Points

• Carlson Capital L.P. acquired 4,100 shares of Northern Trust Corporation, valued at approximately $404,000, during the first quarter.
• Several institutional investors increased their stakes in Northern Trust, with Massachusetts Financial Services boosting its holdings by 4.9% to a total of roughly $774 million.
• Northern Trust announced a quarterly dividend of $0.80, reflecting a positive increase from the previous dividend of $0.75, with an annualized yield of 2.4%.

Carlson Capital L.P. purchased a new position in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 4,100 shares of the asset manager's stock, valued at approximately $404,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Colonial Trust Co SC raised its holdings in Northern Trust by 6,400.0% during the 4th quarter. Colonial Trust Co SC now owns 260 shares of the asset manager's stock worth $27,000 after purchasing an additional 256 shares during the last quarter. Continuum Advisory LLC increased its stake in shares of Northern Trust by 5,340.0% in the 1st quarter. Continuum Advisory LLC now owns 272 shares of the asset manager's stock valued at $27,000 after acquiring an additional 267 shares in the last quarter. Zions Bancorporation National Association UT bought a new stake in shares of Northern Trust in the 1st quarter valued at $29,000. Wayfinding Financial LLC bought a new stake in shares of Northern Trust in the 1st quarter valued at $35,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of Northern Trust in the 1st quarter valued at $43,000. Institutional investors own 83.19% of the company's stock.

Northern Trust Stock Up 0.2%

NASDAQ NTRS traded up $0.29 during mid-day trading on Monday, hitting $131.28. The company's stock had a trading volume of 852,982 shares, compared to its average volume of 998,324. The company's 50 day simple moving average is $127.37 and its 200 day simple moving average is $110.45. Northern Trust Corporation has a twelve month low of $81.62 and a twelve month high of $133.00. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $25.11 billion, a price-to-earnings ratio of 15.43, a PEG ratio of 1.56 and a beta of 1.30.

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

Northern Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 5th will be issued a dividend of $0.80 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $3.20 dividend on an annualized basis and a yield of 2.4%. This is a positive change from Northern Trust's previous quarterly dividend of $0.75. Northern Trust's payout ratio is presently 37.60%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on NTRS shares. Barclays lifted their price objective on shares of Northern Trust from $128.00 to $136.00 and gave the company an "equal weight" rating in a research note on Thursday, July 24th. The Goldman Sachs Group lifted their price objective on shares of Northern Trust from $89.00 to $101.00 and gave the company a "sell" rating in a research note on Wednesday, July 2nd. Truist Financial lifted their price objective on shares of Northern Trust from $128.00 to $132.00 and gave the company a "hold" rating in a research note on Thursday, August 14th. Wells Fargo & Company lifted their price objective on shares of Northern Trust from $111.00 to $120.00 and gave the company an "equal weight" rating in a research note on Thursday, July 24th. Finally, Wolfe Research raised shares of Northern Trust from an "underperform" rating to a "peer perform" rating in a research report on Thursday, July 24th. Two equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Reduce" and a consensus price target of $117.08.

Insider Transactions at Northern Trust

In other news, Director Robert Edward Jr. Moritz acquired 256 shares of the business's stock in a transaction on Wednesday, August 13th. The shares were purchased at an average cost of $126.34 per share, with a total value of $32,343.04. Following the acquisition, the director directly owned 2,525 shares of the company's stock, valued at $319,008.50. The trade was a 11.28% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.77% of the stock is owned by corporate insiders.

About Northern Trust

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.