Ariel Investments LLC Has $193.08 Million Holdings in Northern Trust Corporation $NTRS

Key Points

• Ariel Investments LLC reduced its stake in Northern Trust Corporation by 12.2%, now holding approximately 1.96 million shares, which represents 2.3% of its portfolio.
• Northern Trust declared an increased quarterly dividend of $0.80 per share, up from the previous $0.75, resulting in an annualized dividend yield of 2.5%.
• Several analysts have adjusted their price targets for Northern Trust, with the average consensus target now at $117.08 and the stock receiving mixed ratings including two "Buy," eight "Hold," and three "Sell."

Ariel Investments LLC lessened its stake in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 12.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,957,259 shares of the asset manager's stock after selling 271,556 shares during the quarter. Northern Trust comprises approximately 2.3% of Ariel Investments LLC's holdings, making the stock its 16th largest position. Ariel Investments LLC owned about 1.01% of Northern Trust worth $193,084,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in NTRS. Colonial Trust Co SC boosted its stake in shares of Northern Trust by 6,400.0% during the 4th quarter. Colonial Trust Co SC now owns 260 shares of the asset manager's stock worth $27,000 after acquiring an additional 256 shares in the last quarter. Continuum Advisory LLC boosted its stake 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 acquiring an additional 267 shares in the last quarter. Zions Bancorporation National Association UT bought a new stake in shares of Northern Trust during the 1st quarter worth about $29,000. Wayfinding Financial LLC bought a new stake in shares of Northern Trust during the 1st quarter worth about $35,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of Northern Trust during the 1st quarter worth about $43,000. Institutional investors own 83.19% of the company's stock.

Insider Activity

In related news, Director Robert Edward Jr. Moritz bought 256 shares of the company's stock in a transaction dated Wednesday, August 13th. The stock was acquired at an average cost of $126.34 per share, with a total value of $32,343.04. Following 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.77% of the company's stock.

Northern Trust Stock Performance

Northern Trust stock traded down $2.22 during trading hours on Friday, hitting $127.27. The stock had a trading volume of 1,221,418 shares, compared to its average volume of 909,238. The company has a 50-day moving average of $128.11 and a two-hundred day moving average of $111.06. 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 company has a market cap of $24.34 billion, a PE ratio of 14.96, a price-to-earnings-growth ratio of 1.51 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 posted its quarterly earnings results on Wednesday, July 23rd. The asset manager reported $2.13 EPS for the quarter, beating the consensus estimate of $2.08 by $0.05. The firm had revenue of $2 billion during the quarter, compared to analysts' expectations 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 for the quarter was down 26.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.34 EPS. On average, equities research analysts anticipate that Northern Trust Corporation will post 8.27 EPS for the current fiscal year.

Northern Trust Increases Dividend

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Friday, September 5th. This is a boost from Northern Trust's previous quarterly dividend of $0.75. Northern Trust's payout ratio is currently 37.60%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on NTRS shares. Morgan Stanley boosted their price objective on Northern Trust from $103.00 to $106.00 and gave the stock an "underweight" rating in a research report on Tuesday, July 1st. Barclays boosted their price objective on Northern Trust from $128.00 to $136.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 24th. Evercore ISI boosted their price objective on Northern Trust from $108.00 to $121.00 and gave the stock an "in-line" rating in a research report on Wednesday, July 2nd. Citigroup boosted their price objective on Northern Trust from $110.00 to $135.00 and gave the stock a "neutral" rating in a research report on Friday. Finally, The Goldman Sachs Group boosted their price objective on 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 given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Reduce" and an average price target of $119.58.

About Northern Trust

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.