Davis R M Inc. Has $558,000 Position in Northern Trust Corporation (NASDAQ:NTRS)

Key Points

• Davis R M Inc. reduced its holdings in Northern Trust Corporation by 28.8% during Q1, now owning 5,656 shares valued at $558,000.
• Wall Street analysts have varying ratings for Northern Trust, with a consensus price target of $116.58 and a majority advising to hold the stock.
• Northern Trust announced a quarterly dividend increase from $0.75 to $0.80 per share, with a dividend yield of 2.5%.

Davis R M Inc. lowered its holdings in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 28.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,656 shares of the asset manager's stock after selling 2,291 shares during the quarter. Davis R M Inc.'s holdings in Northern Trust were worth $558,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Colonial Trust Co SC raised its holdings 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 purchasing an additional 256 shares in the last quarter. Continuum Advisory LLC raised its holdings in Northern Trust by 5,340.0% in the 1st quarter. Continuum Advisory LLC now owns 272 shares of the asset manager's stock worth $27,000 after acquiring an additional 267 shares during the period. Wayfinding Financial LLC bought a new position in Northern Trust in the 1st quarter worth $35,000. True Wealth Design LLC raised its holdings in Northern Trust by 84.0% in the 4th quarter. True Wealth Design LLC now owns 425 shares of the asset manager's stock worth $44,000 after acquiring an additional 194 shares during the period. Finally, Coppell Advisory Solutions LLC bought a new position in Northern Trust in the 4th quarter worth $44,000. Institutional investors own 83.19% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on NTRS. Evercore ISI lifted their target price on shares of Northern Trust from $108.00 to $121.00 and gave the stock an "in-line" rating in a report on Wednesday, July 2nd. Morgan Stanley lifted their target price on shares of Northern Trust from $103.00 to $106.00 and gave the stock an "underweight" rating in a report on Tuesday, July 1st. Wolfe Research upgraded shares of Northern Trust from an "underperform" rating to a "peer perform" rating in a report on Thursday, July 24th. Wall Street Zen upgraded shares of Northern Trust from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Finally, The Goldman Sachs Group lifted their target price on shares of Northern Trust from $89.00 to $101.00 and gave the stock a "sell" rating in a report on Wednesday, July 2nd. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $116.58.

Insider Activity

In other news, EVP Clive Bellows sold 3,300 shares of Northern Trust stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $99.95, for a total transaction of $329,835.00. Following the sale, the executive vice president directly owned 28,736 shares in the company, valued at approximately $2,872,163.20. The trade was a 10.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Teresa Parker sold 6,467 shares of the business's stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $100.62, for a total transaction of $650,709.54. Following the completion of the transaction, the insider owned 79,391 shares in the company, valued at approximately $7,988,322.42. This trade represents a 7.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,772 shares of company stock worth $981,069. 0.77% of the stock is owned by company insiders.

Northern Trust Price Performance

Shares of Northern Trust stock opened at $130.00 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.72. The firm's 50-day simple moving average is $119.11 and its 200-day simple moving average is $107.86. Northern Trust Corporation has a twelve month low of $80.81 and a twelve month high of $133.00. The firm has a market cap of $25.29 billion, a P/E ratio of 15.28, a price-to-earnings-growth ratio of 1.75 and a beta of 1.26.

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, beating the consensus estimate of $2.08 by $0.05. Northern Trust had a net margin of 11.75% and a return on equity of 14.06%. The business had revenue of $2 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same period in the previous year, the business earned $4.34 EPS. The firm's revenue was down 26.4% on a year-over-year basis. As a group, research analysts expect that Northern Trust Corporation will post 8.27 EPS for the current fiscal year.

Northern Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 5th will be given a dividend of $0.80 per share. This is an increase from Northern Trust's previous quarterly dividend of $0.75. The ex-dividend date is Friday, September 5th. This represents a $3.20 annualized dividend and a dividend yield of 2.5%. Northern Trust's dividend payout ratio (DPR) is presently 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.

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