5,483 Shares in Northern Trust Corporation $NTRS Purchased by Morningstar Investment Management LLC

Key Points

• Morningstar Investment Management LLC acquired a new position in Northern Trust Corporation, purchasing 5,483 shares valued at approximately $695,000 during the second quarter.
• Several institutional investors increased their stakes in Northern Trust, with Bank of New York Mellon Corp boosting its holdings by 47.8%.
• Northern Trust's recent quarterly earnings showed a net revenue of $2 billion, surpassing analyst estimates, but reflected a 26.4% decline from the same quarter last year.

Morningstar Investment Management LLC acquired a new position in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 5,483 shares of the asset manager's stock, valued at approximately $695,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its holdings in shares of Northern Trust by 47.8% in the first 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. Invesco Ltd. lifted its stake in shares of Northern Trust by 19.3% during the first quarter. Invesco Ltd. now owns 3,443,599 shares of the asset manager's stock valued at $339,711,000 after buying an additional 558,287 shares during the period. RNC Capital Management LLC purchased a new position in shares of Northern Trust during the first quarter valued at approximately $41,905,000. Nuveen LLC purchased a new position in shares of Northern Trust during the first quarter valued at approximately $41,834,000. Finally, Allianz Asset Management GmbH lifted its stake in shares of Northern Trust by 529.4% during the first quarter. Allianz Asset Management GmbH now owns 461,383 shares of the asset manager's stock valued at $45,515,000 after buying an additional 388,081 shares during the period. Hedge funds and other institutional investors own 83.19% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Keefe, Bruyette & Woods reissued an "underperform" rating and set a $118.00 price objective (down previously from $120.00) on shares of Northern Trust in a research note on Thursday, July 24th. Morgan Stanley upped their price objective on shares of Northern Trust from $110.00 to $131.00 and gave the company an "underweight" rating in a research note on Monday, September 29th. Barclays upped 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. Citigroup upped their price objective on shares of Northern Trust from $110.00 to $135.00 and gave the company a "neutral" rating in a research note on Friday, September 5th. Finally, Evercore ISI increased their price target on shares of Northern Trust from $125.00 to $135.00 and gave the stock an "in-line" rating in a research note on Tuesday, September 30th. Four equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $128.23.

Insiders Place Their Bets

In other news, Director Robert Edward Jr. Moritz purchased 256 shares of the stock in a transaction that occurred on Wednesday, August 13th. The stock was acquired at an average cost of $126.34 per share, with a total value of $32,343.04. Following the acquisition, the director owned 2,525 shares in the company, valued at approximately $319,008.50. This trade represents a 11.28% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.77% of the company's stock.

Northern Trust Price Performance

Northern Trust stock opened at $127.03 on Tuesday. Northern Trust Corporation has a 52-week low of $81.62 and a 52-week high of $135.48. The firm has a fifty day moving average of $129.45 and a 200-day moving average of $116.04. The firm has a market capitalization of $24.29 billion, a P/E ratio of 14.93, a PEG ratio of 1.40 and a beta of 1.31. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.58.

Northern Trust (NASDAQ:NTRS - Get Free Report) last released its quarterly earnings data 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 net margin of 11.75% and a return on equity of 14.06%. The company had revenue of $2 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same quarter in the prior year, the business earned $4.34 earnings per share. The business's quarterly revenue was down 26.4% compared to the same quarter last year. As a group, analysts predict that Northern Trust Corporation will post 8.27 EPS for the current year.

Northern Trust Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Friday, September 5th were issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend was Friday, September 5th. This is a positive change from Northern Trust's previous quarterly dividend of $0.75. Northern Trust's dividend payout ratio (DPR) is 37.60%.

Northern Trust 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.

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