Barrow Hanley Mewhinney & Strauss LLC Buys Shares of 117,065 Northern Trust Corporation $NTRS

Key Points

• Barrow Hanley Mewhinney & Strauss LLC acquired 117,065 Northern Trust shares valued at approximately $20.35 million, representing about 0.06% of the company. Institutional investors collectively own 83.19% of Northern Trust.
• Northern Trust reported quarterly EPS of $4.23, exceeding estimates of $2.71, while revenue rose 35.1% year over year to $2.71 billion. The company also increased its quarterly dividend from $0.80 to $0.88 per share.
• Analysts maintain a generally neutral outlook, with Northern Trust carrying an average “Hold” rating and an average price target of $180.68.

Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Northern Trust Corporation (NASDAQ:NTRS - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 117,065 shares of the asset manager's stock, valued at approximately $20,351,000. Barrow Hanley Mewhinney & Strauss LLC owned approximately 0.06% of Northern Trust as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. Reflection Asset Management acquired a new stake in shares of Northern Trust during the fourth quarter worth $25,000. Triumph Capital Management purchased a new position in Northern Trust in the third quarter valued at about $25,000. Basecamp Wealth Advisors LLC grew its holdings in Northern Trust by 99.0% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 203 shares of the asset manager's stock worth $28,000 after acquiring an additional 101 shares in the last quarter. Keating Financial Advisory Services Inc. acquired a new position in shares of Northern Trust in the 2nd quarter worth approximately $31,000. Finally, Elyxium Wealth LLC bought a new stake in shares of Northern Trust during the 4th quarter valued at about $34,000. Institutional investors and hedge funds own 83.19% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on NTRS shares. Morgan Stanley upped their price target 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. Evercore set a $179.00 target price on Northern Trust in a research note on Monday, July 6th. Wells Fargo & Company raised their price objective on shares of Northern Trust from $189.00 to $194.00 and gave the company an "equal weight" rating in a research note on Thursday, July 23rd. Citigroup raised their target price on Northern Trust from $162.00 to $172.00 and gave the stock a "neutral" rating in a report on Tuesday, June 30th. Finally, Truist Financial boosted their price target on shares of Northern Trust from $176.00 to $186.00 and gave the company a "hold" rating in a report on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Northern Trust presently has an average rating of "Hold" and an average target price of $180.68.

Insider Activity at Northern Trust

In other Northern Trust news, Director Robert Edward Jr. Moritz bought 255 shares of Northern Trust stock in a transaction on Wednesday, July 29th. The shares were purchased at an average cost of $179.57 per share, with a total value of $45,790.35. Following the acquisition, the director directly owned 8,400 shares of the company's stock, valued at $1,508,388. The trade was a 3.13% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.66% of the company's stock.

Northern Trust Price Performance

Shares of NTRS opened at $183.90 on Monday. The firm has a market cap of $33.65 billion, a P/E ratio of 15.79, a price-to-earnings-growth ratio of 1.04 and a beta of 1.25. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.65 and a current ratio of 0.65. Northern Trust Corporation has a 52 week low of $121.12 and a 52 week high of $195.78. The firm's 50-day simple moving average is $181.52 and its 200 day simple moving average is $163.35.

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

Northern Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 4th will be issued a dividend of $0.88 per share. This is a positive change from Northern Trust's previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Friday, September 4th. This represents a $3.52 annualized dividend and a dividend yield of 1.9%. Northern Trust's dividend payout ratio (DPR) is 27.47%.

About Northern Trust

Northern Trust Corporation NASDAQ: NTRS is a global financial services firm headquartered in Chicago that provides asset servicing, asset management and wealth management solutions to institutions, corporations and high-net-worth individuals. The company's core businesses include custody and fund administration, investment operations outsourcing, trust and fiduciary services, private banking, and retirement and defined contribution plan services.

Northern Trust's product and service offerings span custody and fund accounting, portfolio and performance analytics, securities lending, cash management and foreign exchange, as well as discretionary and non-discretionary investment management.

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