Amundi Has $125.02 Million Position in Northern Trust Corporation $NTRS

Key Points

• Amundi reduced its Northern Trust stake by 17.3% in the second quarter, selling 150,469 shares and retaining 719,148 shares worth approximately $125 million. Institutional investors collectively own 83.19% of the company.
• Northern Trust reported quarterly EPS of $4.23, well above the $2.71 consensus estimate, while revenue rose 35.1% year over year to $2.71 billion.
• Analysts maintain a consensus “Hold” rating with an average price target of $180.68. The company also raised its quarterly dividend to $0.88 per share, implying a 1.9% yield.

Amundi decreased its holdings in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 17.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 719,148 shares of the asset manager's stock after selling 150,469 shares during the period. Amundi owned approximately 0.39% of Northern Trust worth $125,017,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Continuum Advisory LLC acquired a new position in Northern Trust during the 2nd quarter valued at about $26,000. NBH Bank bought a new position in shares of Northern Trust in the second quarter valued at approximately $30,000. Keating Financial Advisory Services Inc. purchased a new position in shares of Northern Trust during the second quarter valued at approximately $31,000. Reflection Asset Management bought a new stake in Northern Trust during the fourth quarter worth $25,000. Finally, Triumph Capital Management purchased a new stake in Northern Trust in the 3rd quarter valued at $25,000. 83.19% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Wells Fargo & Company raised their price objective on Northern Trust from $189.00 to $194.00 and gave the company an "equal weight" rating in a research note on Thursday, July 23rd. Barclays upped their target price on shares of Northern Trust from $176.00 to $189.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 23rd. Morgan Stanley increased their target price on shares of Northern Trust from $170.00 to $173.00 and gave the company an "underweight" rating in a report on Thursday, July 23rd. 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 research report on Friday, June 26th. Finally, Citigroup boosted their price target on shares of Northern Trust from $162.00 to $172.00 and gave the stock a "neutral" rating in a report on Tuesday, June 30th. Four investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $180.68.

Insider Transactions at Northern Trust

In other Northern Trust news, EVP Thomas South sold 1,800 shares of the firm's stock in a transaction on Monday, August 24th. The shares were sold at an average price of $184.90, for a total value of $332,820.00. Following the completion of the transaction, the executive vice president directly owned 92,917 shares of the company's stock, valued at $17,180,353.30. This trade represents a 1.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robert Moritz, Jr. purchased 255 shares of Northern Trust stock in a transaction dated Wednesday, July 29th. The shares were purchased at an average price of $179.57 per share, with a total value of $45,790.35. Following the completion of the transaction, the director directly owned 8,400 shares in the company, valued at approximately $1,508,388. This represents a 3.13% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.66% of the stock is owned by insiders.

Northern Trust Price Performance

Northern Trust stock opened at $184.69 on Thursday. The company has a market cap of $33.79 billion, a price-to-earnings ratio of 15.85, a PEG ratio of 1.04 and a beta of 1.24. The business's 50 day simple moving average is $184.51 and its 200 day simple moving average is $166.80. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.43. Northern Trust Corporation has a 12 month low of $121.12 and a 12 month high of $195.78.

Northern Trust (NASDAQ:NTRS - Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The asset manager reported $4.23 EPS for the quarter, beating analysts' consensus estimates of $2.71 by $1.52. The firm had revenue of $2.71 billion for the quarter, compared to analysts' expectations of $2.69 billion. Northern Trust had a return on equity of 16.91% and a net margin of 14.76%.The business's revenue for the quarter was up 35.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.13 EPS. Sell-side analysts forecast that Northern Trust Corporation will post 11.59 EPS for the current year.

Northern Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 4th will be given a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.9%. This is a boost from Northern Trust's previous quarterly dividend of $0.80. The ex-dividend date is Friday, September 4th. Northern Trust's dividend payout ratio (DPR) is presently 30.21%.

About Northern Trust

Northern Trust Corporation is a financial services company headquartered in Chicago, Illinois, and the holding company for Northern Trust Company and related businesses. Founded in 1889, the company provides banking, investment management and fiduciary services to corporations, institutions, high-net-worth individuals, families and privately held businesses.

Northern Trust's institutional offerings include asset custody and servicing, fund administration, securities lending, foreign exchange, treasury services, capital markets support and related solutions.

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