Boston Trust Walden Corp Has $111.40 Million Holdings in Northern Trust Corporation $NTRS

Key Points

• Boston Trust Walden Corp increased its stake in Northern Trust Corporation to $111.4 million, owning approximately 0.45% of the company after acquiring 14,974 shares in the second quarter.
• Several institutional investors raised their stakes in Northern Trust, with 83.19% of the company's stock now owned by such investors.
• Northern Trust recently declared a quarterly dividend of $0.80 per share, representing a 2.5% dividend yield and an increase from the previous $0.75 dividend.

Boston Trust Walden Corp boosted its stake in Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 1.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 878,593 shares of the asset manager's stock after purchasing an additional 14,974 shares during the quarter. Boston Trust Walden Corp owned about 0.45% of Northern Trust worth $111,397,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Welch Group LLC raised its stake in Northern Trust by 2.8% in the second quarter. Welch Group LLC now owns 3,153 shares of the asset manager's stock valued at $400,000 after purchasing an additional 87 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in Northern Trust by 9.0% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,062 shares of the asset manager's stock valued at $135,000 after purchasing an additional 88 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Northern Trust by 0.4% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,798 shares of the asset manager's stock valued at $2,764,000 after purchasing an additional 95 shares in the last quarter. OLD National Bancorp IN raised its stake in Northern Trust by 1.3% in the second quarter. OLD National Bancorp IN now owns 7,140 shares of the asset manager's stock valued at $905,000 after purchasing an additional 95 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its stake in Northern Trust by 0.6% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 17,814 shares of the asset manager's stock valued at $2,346,000 after purchasing an additional 105 shares in the last quarter. Institutional investors and hedge funds own 83.19% of the company's stock.

Insider Buying and Selling

In related news, Director Robert Edward Jr. Moritz bought 256 shares of Northern Trust stock in a transaction that occurred on Wednesday, August 13th. The shares were acquired at an average cost of $126.34 per share, for a total transaction of $32,343.04. Following the completion of the acquisition, the director directly owned 2,525 shares of the company's stock, valued at approximately $319,008.50. The trade was a 11.28% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 0.77% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have commented on NTRS. TD Cowen began coverage on Northern Trust in a research note on Thursday, September 25th. They set a "buy" rating for the company. The Goldman Sachs Group set a $135.00 target price on Northern Trust in a research note on Tuesday, September 30th. Royal Bank Of Canada set a $123.00 target price on Northern Trust and gave the stock an "outperform" rating in a research note on Monday, June 30th. Citigroup boosted their target price on Northern Trust from $110.00 to $135.00 and gave the stock a "neutral" rating in a research note on Friday, September 5th. Finally, Evercore ISI boosted their target price on Northern Trust from $125.00 to $135.00 and gave the stock an "in-line" rating in a research note on Tuesday, September 30th. Four research analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $128.23.

Northern Trust Stock Performance

NASDAQ:NTRS opened at $127.03 on Tuesday. The stock has a market cap of $24.29 billion, a P/E ratio of 14.93, a price-to-earnings-growth ratio of 1.40 and a beta of 1.31. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.58. The stock's 50-day moving average is $129.45 and its 200-day moving average is $116.04. Northern Trust Corporation has a 1-year low of $81.62 and a 1-year high of $135.48.

Northern Trust (NASDAQ:NTRS - Get Free Report) last released its quarterly earnings results 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. The company had revenue of $2 billion for 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 business's quarterly revenue was down 26.4% compared to the same quarter last year. During the same period in the previous year, the business posted $4.34 earnings per share. Equities research analysts anticipate that Northern Trust Corporation will post 8.27 earnings per share for the current year.

Northern Trust Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Friday, September 5th were issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 2.5%. This is an increase from Northern Trust's previous quarterly dividend of $0.75. The ex-dividend date was Friday, September 5th. Northern Trust's dividend payout ratio (DPR) is presently 37.60%.

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.

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