Connor Clark & Lunn Investment Management Ltd. Grows Position in Northern Trust Corporation $NTRS

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in Northern Trust Corporation by 26.3%, acquiring an additional 3,482 shares, bringing its total holdings to 16,713 shares worth $1,649,000.
• Several institutional investors have recently modified their stakes in Northern Trust, resulting in 83.19% of the stock being owned by hedge funds and institutional investors.
• Northern Trust has declared a quarterly dividend increase from $0.75 to $0.80, representing a 2.5% dividend yield, with the payout scheduled for October 1st.

Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 26.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,713 shares of the asset manager's stock after buying an additional 3,482 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in Northern Trust were worth $1,649,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Colonial Trust Co SC grew its position in shares of Northern Trust by 6,400.0% during the 4th quarter. Colonial Trust Co SC now owns 260 shares of the asset manager's stock valued at $27,000 after acquiring an additional 256 shares during the period. Continuum Advisory LLC boosted its position in Northern Trust by 5,340.0% during the first quarter. Continuum Advisory LLC now owns 272 shares of the asset manager's stock worth $27,000 after purchasing an additional 267 shares in the last quarter. Zions Bancorporation National Association UT acquired a new stake in Northern Trust in the first quarter valued at approximately $29,000. Wayfinding Financial LLC purchased a new stake in shares of Northern Trust in the first quarter valued at approximately $35,000. Finally, True Wealth Design LLC raised its stake in shares of Northern Trust by 84.0% during the 4th quarter. True Wealth Design LLC now owns 425 shares of the asset manager's stock worth $44,000 after buying an additional 194 shares during the period. Institutional investors and hedge funds own 83.19% of the company's stock.

Insider Activity

In related news, Director Robert Edward Jr. Moritz purchased 256 shares of Northern Trust stock in a transaction dated Wednesday, August 13th. The shares were acquired at an average price of $126.34 per share, for a total transaction of $32,343.04. Following the acquisition, the director directly owned 2,525 shares in the company, valued at approximately $319,008.50. The trade was a 11.28% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.77% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

NTRS has been the topic of a number of research analyst reports. Wolfe Research raised shares of Northern Trust from an "underperform" rating to a "peer perform" rating in a research note on Thursday, July 24th. The Goldman Sachs Group increased their price objective on shares of Northern Trust from $89.00 to $101.00 and gave the company a "sell" rating in a report on Wednesday, July 2nd. Evercore ISI boosted their target price on shares of Northern Trust from $108.00 to $121.00 and gave the stock an "in-line" rating in a research note on Wednesday, July 2nd. Wells Fargo & Company upped 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 report on Thursday, July 24th. Finally, Royal Bank Of Canada set a $123.00 price objective on Northern Trust and gave the stock an "outperform" rating in a report on Monday, June 30th. Two investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Reduce" and a consensus target price of $117.08.

Northern Trust Price Performance

NASDAQ NTRS traded down $0.6150 during trading hours on Thursday, hitting $127.2650. 66,065 shares of the company's stock traded hands, compared to its average volume of 1,581,017. The company has a market capitalization of $24.34 billion, a PE ratio of 14.95, a PEG ratio of 1.51 and a beta of 1.28. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.72 and a quick ratio of 0.72. Northern Trust Corporation has a 52-week low of $81.62 and a 52-week high of $133.00. The firm's 50-day moving average is $124.51 and its 200-day moving average is $109.56.

Northern Trust (NASDAQ:NTRS - Get Free Report) last issued its 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 business 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 revenue for the quarter was down 26.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.34 EPS. Equities analysts forecast that Northern Trust Corporation will post 8.27 EPS 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 issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 2.5%. The ex-dividend date is Friday, September 5th. This is an increase from Northern Trust's previous quarterly dividend of $0.75. 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.