Campbell & CO Investment Adviser LLC Sells 4,571 Shares of Northern Trust Corporation $NTRS

Key Points

• Campbell & CO Investment Adviser LLC reduced its stake in Northern Trust Corporation by 15.0%, selling 4,571 shares in the first quarter, and now holds 25,808 shares valued at approximately $2.5 million.
• Major institutional investors have also increased their positions in Northern Trust, with the Bank of New York Mellon Corp enhancing its stake by 47.8% during the same period.
• Northern Trust recently announced a quarterly dividend increase from $0.75 to $0.80 per share, reflecting a 2.5% dividend yield, set to be paid on October 1st.

Campbell & CO Investment Adviser LLC decreased its stake in Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 15.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,808 shares of the asset manager's stock after selling 4,571 shares during the quarter. Campbell & CO Investment Adviser LLC's holdings in Northern Trust were worth $2,546,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of NTRS. Bank of New York Mellon Corp raised its holdings in shares of Northern Trust by 47.8% during the 1st quarter. Bank of New York Mellon Corp now owns 1,810,816 shares of the asset manager's stock valued at $178,637,000 after purchasing an additional 585,992 shares in the last quarter. Royal Bank of Canada increased its holdings in shares of Northern Trust by 60.2% during the 4th quarter. Royal Bank of Canada now owns 1,497,484 shares of the asset manager's stock worth $153,493,000 after purchasing an additional 562,976 shares during the period. Invesco Ltd. increased its stake in Northern Trust by 19.3% in the first quarter. Invesco Ltd. now owns 3,443,599 shares of the asset manager's stock valued at $339,711,000 after acquiring an additional 558,287 shares during the period. Raiffeisen Bank International AG bought a new stake in Northern Trust in the fourth quarter valued at about $46,197,000. Finally, GAMMA Investing LLC increased its stake in Northern Trust by 10,340.5% in the first quarter. GAMMA Investing LLC now owns 445,602 shares of the asset manager's stock valued at $43,959,000 after acquiring an additional 441,334 shares during the period. Institutional investors own 83.19% of the company's stock.

Insider Buying and Selling

In other Northern Trust news, Director Robert Edward Jr. Moritz purchased 256 shares of the stock in a transaction that occurred on Wednesday, August 13th. The shares were acquired at an average cost of $126.34 per share, with a total value of $32,343.04. Following the completion of the transaction, the director owned 2,525 shares in the company, valued at $319,008.50. The trade was a 11.28% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.77% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on NTRS. Barclays boosted their price target on shares of Northern Trust from $128.00 to $136.00 and gave the company an "equal weight" rating in a research report on Thursday, July 24th. Royal Bank Of Canada set a $123.00 target price on shares of Northern Trust and gave the stock an "outperform" rating in a research report on Monday, June 30th. Wells Fargo & Company boosted their price target on shares of Northern Trust from $111.00 to $120.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 24th. The Goldman Sachs Group boosted their price target on shares of Northern Trust from $89.00 to $101.00 and gave the stock a "sell" rating in a research note on Wednesday, July 2nd. Finally, Keefe, Bruyette & Woods reaffirmed an "underperform" rating and issued a $118.00 target price (down previously from $120.00) on shares of Northern Trust in a research note on Thursday, July 24th. Two equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Reduce" and a consensus target price of $117.08.

Northern Trust Stock Performance

Shares of NASDAQ NTRS traded down $0.58 during mid-day trading on Thursday, reaching $130.99. 997,273 shares of the company were exchanged, compared to its average volume of 1,564,859. The company's 50-day simple moving average is $126.58 and its 200-day simple moving average is $110.17. 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 stock has a market capitalization of $25.05 billion, a P/E ratio of 15.39, a P/E/G ratio of 1.57 and a beta of 1.28. Northern Trust Corporation has a twelve month low of $81.62 and a twelve month high of $133.00.

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 analysts' consensus estimates of $2.08 by $0.05. The company had revenue of $2 billion during the quarter, compared to analysts' expectations of $1.96 billion. Northern Trust had a net margin of 11.75% and a return on equity of 14.06%. Northern Trust's quarterly revenue was down 26.4% compared to the same quarter last year. During the same quarter last year, the company posted $4.34 EPS. As a group, research analysts predict that Northern Trust Corporation will post 8.27 earnings per share for the current year.

Northern Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 5th will be given a dividend of $0.80 per share. This is a positive change from Northern Trust's previous quarterly dividend of $0.75. This represents a $3.20 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Friday, September 5th. Northern Trust's payout ratio is 35.25%.

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.