Brandywine Global Investment Management LLC Acquires 46,500 Shares of Northern Trust Corporation $NTRS

Key Points

• Brandywine Global Investment Management increased its stake in Northern Trust by 23.3% in the fourth quarter, buying 46,500 additional shares and bringing its total to 246,036 shares worth about $33.6 million.
• Northern Trust reported better-than-expected quarterly results, posting EPS of $2.71 versus the $2.37 estimate and revenue of $2.21 billion, while revenue rose 13.8% year over year.
• The company declared a quarterly dividend of $0.80 per share, implying an annualized payout of $3.20 and a yield of 1.9%; analysts currently have a consensus rating of Hold with an average price target of $164.08.

Brandywine Global Investment Management LLC boosted its holdings in Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 23.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 246,036 shares of the asset manager's stock after acquiring an additional 46,500 shares during the quarter. Brandywine Global Investment Management LLC owned 0.13% of Northern Trust worth $33,606,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. CWM LLC increased its stake in shares of Northern Trust by 122.6% during the 4th quarter. CWM LLC now owns 48,284 shares of the asset manager's stock worth $6,595,000 after purchasing an additional 26,594 shares during the last quarter. iSAM Funds UK Ltd purchased a new position in Northern Trust in the 3rd quarter valued at approximately $2,253,000. Cinctive Capital Management LP grew its stake in Northern Trust by 113.7% in the 3rd quarter. Cinctive Capital Management LP now owns 28,939 shares of the asset manager's stock valued at $3,895,000 after buying an additional 15,398 shares in the last quarter. Swiss Life Asset Management Ltd grew its stake in Northern Trust by 119.9% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 83,175 shares of the asset manager's stock valued at $11,195,000 after buying an additional 45,356 shares in the last quarter. Finally, Barclays PLC grew its stake in Northern Trust by 62.4% in the 3rd quarter. Barclays PLC now owns 1,042,084 shares of the asset manager's stock valued at $140,265,000 after buying an additional 400,247 shares in the last quarter. Institutional investors own 83.19% of the company's stock.

Northern Trust Stock Down 0.8%

Shares of NASDAQ:NTRS opened at $169.11 on Tuesday. The firm has a fifty day moving average price of $160.15 and a two-hundred day moving average price of $147.79. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.62 and a quick ratio of 0.62. Northern Trust Corporation has a one year low of $107.08 and a one year high of $173.66. The company has a market cap of $31.29 billion, a price-to-earnings ratio of 17.71, a PEG ratio of 1.22 and a beta of 1.25.

Northern Trust (NASDAQ:NTRS - Get Free Report) last announced its quarterly earnings results on Tuesday, April 21st. The asset manager reported $2.71 EPS for the quarter, beating the consensus estimate of $2.37 by $0.34. Northern Trust had a net margin of 12.84% and a return on equity of 15.94%. The firm had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same period last year, the firm earned $1.90 EPS. The business's quarterly revenue was up 13.8% compared to the same quarter last year. Analysts anticipate that Northern Trust Corporation will post 10.68 EPS for the current fiscal year.

Northern Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 5th will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, June 5th. Northern Trust's payout ratio is currently 33.51%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on NTRS. Truist Financial lifted their price objective on shares of Northern Trust from $155.00 to $176.00 and gave the company a "hold" rating in a research note on Wednesday, April 22nd. JPMorgan Chase & Co. lifted their price objective on shares of Northern Trust from $153.50 to $170.00 and gave the company a "neutral" rating in a research note on Monday, May 11th. Royal Bank Of Canada lifted their price objective on shares of Northern Trust from $159.00 to $178.00 and gave the company an "outperform" rating in a research note on Wednesday, April 22nd. Citigroup began coverage on shares of Northern Trust in a research note on Monday, February 23rd. They issued a "neutral" rating for the company. Finally, Zacks Research raised shares of Northern Trust from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Northern Trust presently has a consensus rating of "Hold" and an average price target of $164.08.

Insider Transactions at Northern Trust

In other Northern Trust news, CFO David W. Fox, Jr. sold 19,987 shares of the business's stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $166.16, for a total value of $3,321,039.92. Following the completion of the sale, the chief financial officer directly owned 18,588 shares of the company's stock, valued at $3,088,582.08. The trade was a 51.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robert Edward Jr. Moritz purchased 225 shares of the stock in a transaction on Friday, May 1st. The stock was acquired at an average cost of $166.41 per share, with a total value of $37,442.25. Following the completion of the purchase, the director directly owned 8,145 shares of the company's stock, valued at $1,355,409.45. The trade was a 2.84% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders sold 22,800 shares of company stock valued at $3,785,251. Insiders own 0.66% of the company's stock.

Northern Trust Company Profile

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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