AQR Capital Management LLC Increases Stock Position in Northern Trust Corporation $NTRS

Key Points

• AQR Capital Management LLC increased its holdings in Northern Trust Corporation by 7.2%, purchasing an additional 54,475 shares, bringing its total to 808,031 shares worth approximately $77.8 million.
• Northern Trust recently declared a quarterly dividend of $0.80 per share, up from $0.75, representing an annual yield of 2.5%, with the ex-dividend date set for September 5th.
• The company's earnings report for the last quarter revealed $2.13 EPS, surpassing estimates, despite a 26.4% year-over-year revenue decline, indicating challenges ahead.

AQR Capital Management LLC grew its position in Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 7.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 808,031 shares of the asset manager's stock after buying an additional 54,475 shares during the quarter. AQR Capital Management LLC owned 0.42% of Northern Trust worth $77,757,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Colonial Trust Co SC raised its position in shares of Northern Trust by 6,400.0% in the 4th quarter. Colonial Trust Co SC now owns 260 shares of the asset manager's stock valued at $27,000 after buying an additional 256 shares in the last quarter. Continuum Advisory LLC raised its position in shares of Northern Trust by 5,340.0% in the 1st quarter. Continuum Advisory LLC now owns 272 shares of the asset manager's stock valued at $27,000 after buying an additional 267 shares in the last quarter. Zions Bancorporation National Association UT acquired a new position in shares of Northern Trust in the 1st quarter valued at approximately $29,000. Wayfinding Financial LLC acquired a new position in shares of Northern Trust in the 1st quarter valued at approximately $35,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of Northern Trust during the 1st quarter valued at approximately $43,000. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Northern Trust Stock Up 0.1%

NTRS traded up $0.16 during trading on Monday, hitting $127.43. 1,043,099 shares of the company's stock were exchanged, compared to its average volume of 912,691. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.58. The business's 50 day moving average is $128.12 and its two-hundred day moving average is $111.14. Northern Trust Corporation has a fifty-two week low of $81.62 and a fifty-two week high of $133.00. The stock has a market cap of $24.37 billion, a P/E ratio of 14.97, a PEG ratio of 1.51 and a beta of 1.30.

Northern Trust (NASDAQ:NTRS - Get Free Report) last released its quarterly earnings data 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. Northern Trust had a net margin of 11.75% and a return on equity of 14.06%. The firm had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter in the prior year, the company posted $4.34 earnings per share. The business's revenue was down 26.4% on a year-over-year basis. As a group, equities analysts expect that Northern Trust Corporation will post 8.27 earnings per share for the current fiscal year.

Northern Trust Increases Dividend

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

Insiders Place Their Bets

In other Northern Trust news, Director Robert Edward Jr. Moritz acquired 256 shares of the stock in a transaction on 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 acquisition, the director owned 2,525 shares in the company, valued at approximately $319,008.50. This represents a 11.28% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.77% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Wolfe Research raised shares of Northern Trust from an "underperform" rating to a "peer perform" rating in a 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 report on Friday. Wall Street Zen lowered shares of Northern Trust from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. Royal Bank Of Canada set a $123.00 price target on shares of Northern Trust and gave the stock an "outperform" rating in a research report on Monday, June 30th. Finally, The Goldman Sachs Group boosted their price target 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, eight have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Reduce" and an average target price of $119.58.

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.