Acadian Asset Management LLC Sells 9,408 Shares of Northern Trust Corporation $NTRS

Key Points

• Acadian Asset Management LLC has decreased its stake in Northern Trust Corporation by 7.5%, selling 9,408 shares and now holds 116,613 shares valued at approximately $11.5 million.
• The company recently announced a dividend increase from $0.75 to $0.80, representing a 2.5% dividend yield and a payout ratio of 37.60%.
• Northern Trust Corporation's stock has shown a substantial year-over-year revenue decrease of 26.4%, despite beating earnings expectations by reporting $2.13 per share for the last quarter.

Acadian Asset Management LLC cut its position in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 7.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 116,613 shares of the asset manager's stock after selling 9,408 shares during the period. Acadian Asset Management LLC owned about 0.06% of Northern Trust worth $11,502,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA raised its position in shares of Northern Trust by 4.9% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 7,850,088 shares of the asset manager's stock worth $774,411,000 after acquiring an additional 363,472 shares in the last quarter. Invesco Ltd. raised its position in shares of Northern Trust by 19.3% in the 1st quarter. Invesco Ltd. now owns 3,443,599 shares of the asset manager's stock worth $339,711,000 after acquiring an additional 558,287 shares in the last quarter. American Century Companies Inc. raised its position in shares of Northern Trust by 0.7% in the 1st quarter. American Century Companies Inc. now owns 3,013,123 shares of the asset manager's stock worth $297,245,000 after acquiring an additional 20,010 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Northern Trust by 47.8% in the 1st quarter. Bank of New York Mellon Corp now owns 1,810,816 shares of the asset manager's stock worth $178,637,000 after acquiring an additional 585,992 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in 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 buying an additional 150,274 shares in the last quarter. 83.19% of the stock is owned by institutional investors.

Insider Activity at Northern Trust

In related news, Director Robert Edward Jr. Moritz bought 256 shares of the 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 purchase, the director directly owned 2,525 shares of the company's stock, valued at $319,008.50. This represents a 11.28% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.77% of the stock is owned by insiders.

Northern Trust Stock Down 0.0%

Shares of NTRS stock opened at $129.42 on Friday. The stock's 50-day simple moving average is $127.95 and its 200-day simple moving average is $111.62. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.72 and a current ratio of 0.72. The firm has a market capitalization of $24.75 billion, a PE ratio of 15.21, a P/E/G ratio of 1.54 and a beta of 1.30. Northern Trust Corporation has a fifty-two week low of $81.62 and a fifty-two week high of $133.00.

Northern Trust (NASDAQ:NTRS - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The asset manager reported $2.13 earnings per share for the quarter, beating analysts' consensus estimates of $2.08 by $0.05. The business had revenue of $2 billion for the quarter, compared to analyst estimates of $1.96 billion. Northern Trust had a return on equity of 14.06% and a net margin of 11.75%.The company's revenue was down 26.4% on a year-over-year basis. During the same period in the prior year, the company earned $4.34 earnings per share. Equities analysts expect 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. Stockholders of record on Friday, September 5th will be issued a $0.80 dividend. This is a boost from Northern Trust's previous quarterly dividend of $0.75. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Friday, September 5th. Northern Trust's dividend payout ratio is currently 37.60%.

Wall Street Analyst Weigh In

NTRS has been the topic of several recent analyst reports. Evercore ISI upped their target price on Northern Trust from $108.00 to $121.00 and gave the company an "in-line" rating in a research report on Wednesday, July 2nd. Wall Street Zen lowered Northern Trust from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. The Goldman Sachs Group upped their target price on Northern Trust from $89.00 to $101.00 and gave the company a "sell" rating in a research report on Wednesday, July 2nd. Wells Fargo & Company upped their target price on Northern Trust from $111.00 to $120.00 and gave the company an "equal weight" rating in a research report on Thursday, July 24th. Finally, Truist Financial upped their target price on Northern Trust from $128.00 to $132.00 and gave the company a "hold" rating in a research report on Thursday, August 14th. Two research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, Northern Trust presently has a consensus rating of "Reduce" and an average price target of $119.58.

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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