Charles Schwab Investment Management Inc. Has $124.39 Million Holdings in Northern Trust Corporation (NASDAQ:NTRS)

Key Points

• Charles Schwab Investment Management Inc. has decreased its stake in Northern Trust Corporation by 0.5%, owning approximately $124.39 million worth of shares after selling 6,466 shares.
• Northern Trust recently announced a quarterly dividend increase from $0.75 to $0.80 per share, representing a 2.6% annualized yield.
• Despite reporting earnings of $2.13 per share, Northern Trust's revenue is down 26.4% year-over-year, indicating challenges despite surpassing analysts' expectations.

Charles Schwab Investment Management Inc. lessened its stake in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 0.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,260,940 shares of the asset manager's stock after selling 6,466 shares during the period. Charles Schwab Investment Management Inc. owned about 0.65% of Northern Trust worth $124,392,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of NTRS. Wells Fargo & Company MN raised its holdings in Northern Trust by 13.7% during the 4th quarter. Wells Fargo & Company MN now owns 98,503 shares of the asset manager's stock worth $10,097,000 after buying an additional 11,854 shares during the period. Raymond James Financial Inc. acquired a new stake in Northern Trust during the 4th quarter worth about $7,456,000. Capital Fund Management S.A. acquired a new position in shares of Northern Trust in the 4th quarter valued at about $5,367,000. Sterling Capital Management LLC increased its holdings in shares of Northern Trust by 94.9% in the 4th quarter. Sterling Capital Management LLC now owns 14,873 shares of the asset manager's stock valued at $1,524,000 after purchasing an additional 7,240 shares during the period. Finally, Townsquare Capital LLC acquired a new position in shares of Northern Trust in the 4th quarter valued at about $213,000. Institutional investors and hedge funds own 83.19% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on NTRS shares. Morgan Stanley upped their target price on Northern Trust from $103.00 to $106.00 and gave the company an "underweight" rating in a report on Tuesday, July 1st. Keefe, Bruyette & Woods reiterated an "underperform" rating and issued a $118.00 target price (down previously from $120.00) on shares of Northern Trust in a report on Thursday, July 24th. Royal Bank Of Canada set a $123.00 target price on Northern Trust and gave the company an "outperform" rating in a report on Monday, June 30th. Barclays upped their target price on Northern Trust from $128.00 to $136.00 and gave the company an "equal weight" rating in a report on Thursday, July 24th. Finally, Truist Financial upped their target price on Northern Trust from $116.00 to $126.00 and gave the company a "hold" rating in a report on Thursday, July 3rd. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $116.58.

Northern Trust Trading Down 0.3%

Shares of NASDAQ NTRS opened at $125.24 on Tuesday. The stock has a market cap of $23.95 billion, a price-to-earnings ratio of 14.72, a PEG ratio of 1.67 and a beta of 1.28. The business has a 50 day simple moving average of $121.80 and a 200 day simple moving average of $108.79. Northern Trust Corporation has a 52 week low of $81.62 and a 52 week high of $133.00. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.72 and a current ratio of 0.72.

Northern Trust (NASDAQ:NTRS - Get Free Report) last announced 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 firm had revenue of $2 billion during 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 company's revenue was down 26.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.34 earnings per share. On average, research analysts predict that Northern Trust Corporation will post 8.27 earnings per share for the current fiscal year.

Northern Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 5th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Friday, September 5th. This is an increase from Northern Trust's previous quarterly dividend of $0.75. This represents a $3.20 dividend on an annualized basis and a yield of 2.6%. Northern Trust's dividend payout ratio (DPR) is currently 35.25%.

About Northern Trust

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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