Atria Wealth Solutions Inc. Boosts Stake in Northern Trust Corporation (NASDAQ:NTRS)

Atria Wealth Solutions Inc. lifted its holdings in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 87.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,568 shares of the asset manager's stock after acquiring an additional 2,601 shares during the period. Atria Wealth Solutions Inc.'s holdings in Northern Trust were worth $553,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in NTRS. Wells Fargo & Company MN grew its position in Northern Trust by 13.7% in the 4th quarter. Wells Fargo & Company MN now owns 98,503 shares of the asset manager's stock worth $10,097,000 after purchasing an additional 11,854 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Northern Trust in the 4th quarter worth about $7,456,000. Townsquare Capital LLC bought a new stake in Northern Trust in the 4th quarter worth about $213,000. Canada Post Corp Registered Pension Plan bought a new stake in Northern Trust in the 4th quarter worth about $383,000. Finally, Ontario Teachers Pension Plan Board grew its position in Northern Trust by 91.2% in the 4th quarter. Ontario Teachers Pension Plan Board now owns 8,290 shares of the asset manager's stock worth $850,000 after purchasing an additional 3,954 shares in the last quarter. 83.19% of the stock is owned by institutional investors.

Northern Trust Stock Performance

NTRS traded down $2.47 on Friday, hitting $126.02. The company's stock had a trading volume of 787,506 shares, compared to its average volume of 1,404,009. The company's 50 day simple moving average is $123.41 and its 200-day simple moving average is $109.23. The firm has a market cap of $24.10 billion, a P/E ratio of 14.81, a price-to-earnings-growth ratio of 1.67 and a beta of 1.28. Northern Trust Corporation has a 12 month low of $81.62 and a 12 month high of $133.00. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.58.

Northern Trust (NASDAQ:NTRS - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The asset manager reported $2.13 earnings per share (EPS) 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 business had revenue of $2 billion for the quarter, compared to analysts' expectations of $1.96 billion. During the same period in the prior year, the company posted $4.34 EPS. The business's revenue for the quarter was down 26.4% compared to the same quarter last year. Analysts forecast that Northern Trust Corporation will post 8.27 EPS for the current year.

Northern Trust Increases Dividend

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

Analysts Set New Price Targets

A number of research analysts have recently weighed in on NTRS shares. Morgan Stanley increased their target price on shares of Northern Trust from $103.00 to $106.00 and gave the company an "underweight" rating in a research report on Tuesday, July 1st. Wall Street Zen downgraded shares of Northern Trust from a "hold" rating to a "sell" rating in a research report on Saturday. Keefe, Bruyette & Woods reissued an "underperform" rating and set a $118.00 target price (down from $120.00) on shares of Northern Trust in a research report on Thursday, July 24th. Evercore ISI increased their target price on shares of Northern Trust from $108.00 to $121.00 and gave the company an "in-line" rating in a research report on Wednesday, July 2nd. Finally, Truist Financial increased their target price on shares of Northern Trust from $128.00 to $132.00 and gave the company a "hold" rating in a research report on Thursday. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $117.08.

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.