Dynamic Technology Lab Private Ltd Invests $670,000 in Northern Trust Corporation $NTRS

Key Points

• Dynamic Technology Lab Private Ltd acquired a new position in Northern Trust Corporation, purchasing 6,793 shares valued at approximately $670,000 in the first quarter of the year.
• Other institutional investors have increased their stakes in Northern Trust, with Bank of New York Mellon raising its stake by 47.8% and Royal Bank of Canada by 60.2% during recent reporting periods.
• Northern Trust announced a quarterly dividend increase to $0.80 per share, yielding 2.5%, up from the previous $0.75 dividend.

Dynamic Technology Lab Private Ltd bought a new stake in Northern Trust Corporation (NASDAQ:NTRS - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 6,793 shares of the asset manager's stock, valued at approximately $670,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Continuum Advisory LLC increased its stake in Northern Trust by 5,340.0% in the first quarter. Continuum Advisory LLC now owns 272 shares of the asset manager's stock valued at $27,000 after purchasing an additional 267 shares in the last quarter. Zions Bancorporation National Association UT bought a new stake in Northern Trust in the first quarter valued at $29,000. Wayfinding Financial LLC bought a new stake in Northern Trust in the first quarter valued at $35,000. Caitong International Asset Management Co. Ltd bought a new stake in Northern Trust in the first quarter valued at $43,000. Finally, Assetmark Inc. increased its stake in Northern Trust by 54.9% in the first quarter. Assetmark Inc. now owns 584 shares of the asset manager's stock valued at $58,000 after purchasing an additional 207 shares in the last quarter. 83.19% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Wall Street Zen downgraded shares of Northern Trust from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Zacks Research downgraded shares of Northern Trust from a "strong-buy" rating to a "hold" rating in a research report on Tuesday. Barclays boosted their target price on shares of Northern Trust from $128.00 to $136.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 24th. Citigroup boosted their target price on shares of Northern Trust from $110.00 to $135.00 and gave the stock a "neutral" rating in a research report on Friday, September 5th. Finally, The Goldman Sachs Group boosted their target price on shares of Northern Trust from $89.00 to $101.00 and gave the stock a "sell" rating in a research report on Wednesday, July 2nd. Two analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Reduce" and an average price target of $119.58.

Insiders Place Their Bets

In other news, Director Robert Edward Jr. Moritz bought 256 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The shares were acquired at an average price of $126.34 per share, with a total value of $32,343.04. Following the acquisition, the director owned 2,525 shares of the company's stock, valued at approximately $319,008.50. The trade was a 11.28% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.77% of the company's stock.

Northern Trust Stock Down 0.0%

Northern Trust stock traded down $0.06 during midday trading on Friday, hitting $129.42. 801,946 shares of the stock were exchanged, compared to its average volume of 902,200. Northern Trust Corporation has a 52-week low of $81.62 and a 52-week high of $133.00. The stock has a market capitalization of $24.75 billion, a price-to-earnings ratio of 15.21, a price-to-earnings-growth ratio of 1.54 and a beta of 1.30. The business's 50-day moving average price is $127.95 and its 200-day moving average price is $111.62. 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 results on Wednesday, July 23rd. The asset manager reported $2.13 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.05. The business had revenue of $2 billion for the quarter, compared to analysts' expectations of $1.96 billion. Northern Trust had a net margin of 11.75% and a return on equity of 14.06%. The firm'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 company earned $4.34 earnings per share. On average, research analysts expect that Northern Trust Corporation will post 8.27 EPS for the current fiscal year.

Northern Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 5th will be paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Friday, September 5th. This is an increase from Northern Trust's previous quarterly dividend of $0.75. Northern Trust's dividend payout ratio is currently 37.60%.

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.