Amundi Buys 234,836 Shares of Northern Trust Corporation $NTRS

Key Points

• Amundi increased its Northern Trust stake by 37% in the first quarter, acquiring 234,836 shares for a total holding of 869,617 shares valued at approximately $121.4 million. Institutional investors collectively own 83.19% of the company.
• Northern Trust raised its quarterly dividend from $0.80 to $0.88 per share, equivalent to an annualized dividend of $3.52 and a 1.9% yield.
• Analysts maintain a consensus “Hold” rating with an average price target of $180.25, while the stock recently traded at $182.19; a company director also purchased 255 shares worth about $45,790.

Amundi grew its stake in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 37.0% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 869,617 shares of the asset manager's stock after acquiring an additional 234,836 shares during the period. Amundi owned about 0.47% of Northern Trust worth $121,372,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Reflection Asset Management bought a new stake in Northern Trust during the 4th quarter valued at $25,000. Triumph Capital Management purchased a new stake in Northern Trust in the third quarter worth about $25,000. Elyxium Wealth LLC bought a new position in Northern Trust during the 4th quarter worth about $34,000. International Assets Investment Management LLC purchased a new position in Northern Trust during the 4th quarter valued at about $35,000. Finally, Transamerica Financial Advisors LLC raised its holdings in shares of Northern Trust by 54.1% in the 4th quarter. Transamerica Financial Advisors LLC now owns 265 shares of the asset manager's stock valued at $36,000 after purchasing an additional 93 shares in the last quarter. Hedge funds and other institutional investors own 83.19% of the company's stock.

Northern Trust Trading Down 0.2%

Northern Trust stock opened at $182.19 on Friday. The company has a quick ratio of 0.62, a current ratio of 0.65 and a debt-to-equity ratio of 0.43. Northern Trust Corporation has a 52 week low of $121.12 and a 52 week high of $191.60. The company has a market capitalization of $33.71 billion, a price-to-earnings ratio of 15.64, a price-to-earnings-growth ratio of 1.03 and a beta of 1.25. The stock has a 50-day moving average price of $176.30 and a 200 day moving average price of $159.17.

Northern Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 4th will be paid a $0.88 dividend. The ex-dividend date is Friday, September 4th. This is an increase from Northern Trust's previous quarterly dividend of $0.80. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.9%. Northern Trust's dividend payout ratio (DPR) is currently 27.47%.

Analyst Ratings Changes

A number of analysts have weighed in on NTRS shares. Keefe, Bruyette & Woods upped their target price on Northern Trust from $157.00 to $175.00 and gave the stock an "underperform" rating in a report on Thursday, July 9th. Evercore set a $179.00 price target on Northern Trust in a report on Monday, July 6th. UBS Group set a $186.00 price objective on Northern Trust in a research note on Friday, June 26th. Barclays lifted their target price on Northern Trust from $176.00 to $189.00 and gave the company an "equal weight" rating in a research note on Thursday, July 23rd. Finally, Truist Financial raised their price target on shares of Northern Trust from $176.00 to $186.00 and gave the company a "hold" rating in a report on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $180.25.

Insider Buying and Selling at Northern Trust

In other Northern Trust news, Director Robert Edward Jr. Moritz bought 255 shares of Northern Trust stock in a transaction that occurred on Wednesday, July 29th. The stock was purchased at an average price of $179.57 per share, with a total value of $45,790.35. Following the completion of the acquisition, the director directly owned 8,400 shares in the company, valued at approximately $1,508,388. This trade represents a 3.13% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.66% of the stock is owned by insiders.

Northern Trust Company Profile

Northern Trust Corporation NASDAQ: NTRS is a global financial services firm headquartered in Chicago that provides asset servicing, asset management and wealth management solutions to institutions, corporations and high-net-worth individuals. The company's core businesses include custody and fund administration, investment operations outsourcing, trust and fiduciary services, private banking, and retirement and defined contribution plan services.

Northern Trust's product and service offerings span custody and fund accounting, portfolio and performance analytics, securities lending, cash management and foreign exchange, as well as discretionary and non-discretionary investment management.

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