Cookson Peirce & Co. Inc. Takes $904,000 Position in Northern Trust Corporation (NASDAQ:NTRS)

Key Points

• Cookson Peirce & Co. Inc. acquired a new stake in Northern Trust Corporation, purchasing 9,161 shares valued at approximately $904,000 in the first quarter.
• Several institutional investors have significantly increased their stakes in Northern Trust, with Colonial Trust Co SC raising its stake by 6,400%.
• Northern Trust declared a quarterly dividend of $0.80 per share, an increase from the previous $0.75, reflecting a 2.5% dividend yield.

Cookson Peirce & Co. Inc. acquired a new stake in Northern Trust Corporation (NASDAQ:NTRS - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 9,161 shares of the asset manager's stock, valued at approximately $904,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Colonial Trust Co SC raised its stake in Northern Trust by 6,400.0% in the 4th quarter. Colonial Trust Co SC now owns 260 shares of the asset manager's stock valued at $27,000 after purchasing an additional 256 shares during the last quarter. Continuum Advisory LLC raised its stake in Northern Trust by 5,340.0% in the 1st quarter. Continuum Advisory LLC now owns 272 shares of the asset manager's stock valued at $27,000 after purchasing an additional 267 shares during the last quarter. Zions Bancorporation National Association UT acquired a new position in Northern Trust in the 1st quarter valued at $29,000. Wayfinding Financial LLC acquired a new position in Northern Trust in the 1st quarter valued at $35,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in Northern Trust in the 1st quarter valued at $43,000. 83.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NTRS has been the subject of several recent research reports. Keefe, Bruyette & Woods reissued an "underperform" rating and issued a $118.00 price objective (down from $120.00) on shares of Northern Trust in a research note on Thursday, July 24th. Truist Financial increased their price objective on Northern Trust from $128.00 to $132.00 and gave the company a "hold" rating in a research note on Thursday. Royal Bank Of Canada set a $123.00 price objective on Northern Trust and gave the company an "outperform" rating in a research note on Monday, June 30th. Wolfe Research raised Northern Trust from an "underperform" rating to a "peer perform" rating in a research note on Thursday, July 24th. Finally, 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. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Northern Trust currently has an average rating of "Hold" and an average price target of $117.08.

Northern Trust Stock Performance

NASDAQ NTRS opened at $128.49 on Friday. The stock has a market cap of $24.57 billion, a PE ratio of 15.10, a P/E/G ratio of 1.67 and a beta of 1.28. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.58. Northern Trust Corporation has a twelve month low of $81.62 and a twelve month high of $133.00. The stock has a fifty day simple moving average of $123.05 and a 200-day simple moving average of $109.16.

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 analysts' consensus estimates of $2.08 by $0.05. The business 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% compared to the same quarter last year. During the same period in the prior year, the business posted $4.34 EPS. Equities analysts anticipate 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. Stockholders of record on Friday, September 5th will be issued a dividend of $0.80 per share. The ex-dividend date is Friday, September 5th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.5%. This is a boost from Northern Trust's previous quarterly dividend of $0.75. Northern Trust's dividend payout ratio (DPR) is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.