Northern Trust Corporation $NTRS Position Trimmed by Amundi

Key Points

• Amundi has reduced its stake in Northern Trust Corporation by 13.1%, selling 209,479 shares to hold approximately 1.39 million shares worth $126.16 million.
• Northern Trust declared a quarterly dividend of $0.80, an increase from the previous $0.75, with a dividend yield of 2.5%.
• Analysts have mixed views on Northern Trust, with two buy ratings, eight holds, and three sells, leading to an average price target of $119.58.

Amundi reduced its holdings in Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 13.1% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 1,392,784 shares of the asset manager's stock after selling 209,479 shares during the quarter. Amundi owned approximately 0.72% of Northern Trust worth $126,163,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of NTRS. Colonial Trust Co SC lifted its holdings in Northern Trust by 6,400.0% in the fourth quarter. Colonial Trust Co SC now owns 260 shares of the asset manager's stock worth $27,000 after acquiring an additional 256 shares during the last quarter. Continuum Advisory LLC raised its position in shares of Northern Trust by 5,340.0% during the 1st quarter. Continuum Advisory LLC now owns 272 shares of the asset manager's stock worth $27,000 after purchasing an additional 267 shares during the period. Zions Bancorporation National Association UT bought a new stake in shares of Northern Trust in the 1st quarter worth approximately $29,000. Wayfinding Financial LLC acquired a new position in Northern Trust during the 1st quarter valued at approximately $35,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in Northern Trust during the 1st quarter valued at approximately $43,000. Institutional investors and hedge funds own 83.19% of the company's stock.

Insiders Place Their Bets

In other Northern Trust news, Director Robert Edward Jr. Moritz purchased 256 shares of the company's stock in a transaction on Wednesday, August 13th. The shares were purchased at an average cost of $126.34 per share, for a total transaction of $32,343.04. Following the completion of the transaction, the director owned 2,525 shares in the company, valued at $319,008.50. The trade was a 11.28% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.77% of the stock is owned by corporate insiders.

Northern Trust Price Performance

Shares of NTRS stock traded up $2.42 during midday trading on Thursday, reaching $129.48. 1,375,854 shares of the company were exchanged, compared to its average volume of 903,251. The company's 50 day moving average price is $128.00 and its two-hundred day moving average price is $111.49. The company has a market cap of $24.76 billion, a P/E ratio of 15.22, a PEG ratio of 1.51 and a beta of 1.30. Northern Trust Corporation has a 12 month low of $81.62 and a 12 month high of $133.00. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.72 and a current ratio of 0.72.

Northern Trust (NASDAQ:NTRS - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The asset manager reported $2.13 EPS for the quarter, beating analysts' consensus estimates of $2.08 by $0.05. Northern Trust had a net margin of 11.75% and a return on equity of 14.06%. The business had revenue of $2 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same quarter last year, the business earned $4.34 earnings per share. The business's revenue for the quarter was down 26.4% on a year-over-year basis. On average, sell-side 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 represents a $3.20 annualized dividend and a dividend yield of 2.5%. This is a positive change from Northern Trust's previous quarterly dividend of $0.75. The ex-dividend date is Friday, September 5th. Northern Trust's payout ratio is currently 37.60%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Wolfe Research upgraded Northern Trust from an "underperform" rating to a "peer perform" rating in a research note on Thursday, July 24th. Royal Bank Of Canada set a $123.00 price objective on shares of Northern Trust and gave the stock an "outperform" rating in a report on Monday, June 30th. Morgan Stanley boosted their target price on shares of Northern Trust from $103.00 to $106.00 and gave the company an "underweight" rating in a research note on Tuesday, July 1st. Evercore ISI raised their price target on shares of Northern Trust from $108.00 to $121.00 and gave the company an "in-line" rating in a research note on Wednesday, July 2nd. Finally, Zacks Research cut Northern Trust from a "strong-buy" rating to a "hold" rating in a report on Tuesday. Two research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Reduce" and an average target price 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.