Curi RMB Capital LLC Increases Holdings in Northern Trust Corporation $NTRS

Key Points

• Curi RMB Capital LLC increased its stake in Northern Trust Corporation by 24.3%, owning 11,681 shares valued at $1,161,000 as of the latest filing.
• Northern Trust has recently lifted its quarterly dividend from $0.75 to $0.80 per share, with a yield of 2.5% and a payout ratio of 35.25%.
• Analyst ratings for Northern Trust vary, with two "Buy," eight "Hold," and three "Sell," and an average target price of $119.58.

Curi RMB Capital LLC grew its holdings in Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 24.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,681 shares of the asset manager's stock after acquiring an additional 2,287 shares during the period. Curi RMB Capital LLC's holdings in Northern Trust were worth $1,161,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA grew its holdings in Northern Trust by 4.9% during the first quarter. Massachusetts Financial Services Co. MA now owns 7,850,088 shares of the asset manager's stock worth $774,411,000 after acquiring an additional 363,472 shares during the period. Invesco Ltd. grew its holdings in Northern Trust by 19.3% during the first quarter. Invesco Ltd. now owns 3,443,599 shares of the asset manager's stock worth $339,711,000 after acquiring an additional 558,287 shares during the period. American Century Companies Inc. grew its holdings in Northern Trust by 0.7% during the first quarter. American Century Companies Inc. now owns 3,013,123 shares of the asset manager's stock worth $297,245,000 after acquiring an additional 20,010 shares during the period. Bank of New York Mellon Corp grew its holdings in Northern Trust by 47.8% during the first quarter. Bank of New York Mellon Corp now owns 1,810,816 shares of the asset manager's stock worth $178,637,000 after acquiring an additional 585,992 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Northern Trust by 9.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,727,365 shares of the asset manager's stock worth $177,055,000 after acquiring an additional 150,274 shares during the period. 83.19% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Robert Edward Jr. Moritz acquired 256 shares of Northern Trust stock in a transaction that occurred on Wednesday, August 13th. The shares were purchased at an average price of $126.34 per share, for a total transaction of $32,343.04. Following the completion of the transaction, the director owned 2,525 shares in the company, valued at $319,008.50. This represents a 11.28% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.77% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on NTRS shares. Wells Fargo & Company raised their target price on Northern Trust from $111.00 to $120.00 and gave the stock an "equal weight" rating in a report on Thursday, July 24th. Truist Financial raised their target price on Northern Trust from $128.00 to $132.00 and gave the stock a "hold" rating in a report on Thursday, August 14th. Royal Bank Of Canada set a $123.00 price target on Northern Trust and gave the stock an "outperform" rating in a research report on Monday, June 30th. Barclays increased their price target on Northern Trust from $128.00 to $136.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 24th. Finally, The Goldman Sachs Group increased their price target on Northern Trust from $89.00 to $101.00 and gave the stock a "sell" rating in a research report on Wednesday, July 2nd. Two equities research 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. According to data from MarketBeat.com, Northern Trust presently has an average rating of "Reduce" and a consensus price target of $119.58.

Northern Trust Price Performance

Shares of NASDAQ NTRS traded up $0.16 during midday trading on Monday, hitting $127.43. The stock had a trading volume of 1,043,099 shares, compared to its average volume of 912,691. The company has a market capitalization of $24.37 billion, a PE ratio of 14.97, a P/E/G ratio of 1.51 and a beta of 1.30. The stock has a 50 day simple moving average of $128.12 and a 200-day simple moving average of $111.14. Northern Trust Corporation has a 1 year low of $81.62 and a 1 year high of $133.00. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.58.

Northern Trust (NASDAQ:NTRS - Get Free Report) last released its earnings results on Wednesday, July 23rd. The asset manager reported $2.13 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.05. The business had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.96 billion. Northern Trust had a return on equity of 14.06% and a net margin of 11.75%.The business's quarterly revenue was down 26.4% compared to the same quarter last year. During the same quarter last year, the business posted $4.34 earnings per share. On average, sell-side analysts expect that Northern Trust Corporation will post 8.27 EPS for the current fiscal year.

Northern Trust Increases Dividend

The business also recently disclosed 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. The ex-dividend date is Friday, September 5th. 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 2.5%. Northern Trust's dividend payout ratio (DPR) is 37.60%.

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.