Deutsche Bank AG Sells 217,877 Shares of Northern Trust Corporation (NASDAQ:NTRS)

Key Points

• Deutsche Bank AG has reduced its stake in Northern Trust Corporation by 20.1%, selling 217,877 shares in the first quarter, leaving it with 866,791 shares valued at approximately $85.5 million.
• Northern Trust recently increased its quarterly dividend from $0.75 to $0.80, representing a yield of 2.5%, with the dividend payout scheduled for October 1st.
• Analysts have varied views on Northern Trust’s stock, with target price upgrades from firms like Wells Fargo and Barclays, resulting in a consensus rating of "Hold" and an average target price of $116.58.

Deutsche Bank AG reduced its position in Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 20.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 866,791 shares of the asset manager's stock after selling 217,877 shares during the quarter. Deutsche Bank AG owned 0.45% of Northern Trust worth $85,509,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Chicago Partners Investment Group LLC raised its holdings in shares of Northern Trust by 8.0% in the first quarter. Chicago Partners Investment Group LLC now owns 2,497 shares of the asset manager's stock valued at $245,000 after acquiring an additional 186 shares in the last quarter. ASR Vermogensbeheer N.V. bought a new stake in shares of Northern Trust in the first quarter valued at about $4,911,000. iA Global Asset Management Inc. raised its holdings in shares of Northern Trust by 1.8% in the first quarter. iA Global Asset Management Inc. now owns 8,666 shares of the asset manager's stock valued at $855,000 after acquiring an additional 157 shares in the last quarter. Atria Wealth Solutions Inc. raised its holdings in shares of Northern Trust by 87.7% in the first quarter. Atria Wealth Solutions Inc. now owns 5,568 shares of the asset manager's stock valued at $553,000 after acquiring an additional 2,601 shares in the last quarter. Finally, Thoroughbred Financial Services LLC bought a new stake in shares of Northern Trust in the first quarter valued at about $368,000. 83.19% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Wells Fargo & Company boosted their target price on shares of Northern Trust from $111.00 to $120.00 and gave the stock an "equal weight" rating in a report on Thursday, July 24th. 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 report on Wednesday, July 2nd. Barclays boosted their target price on shares of Northern Trust from $128.00 to $136.00 and gave the stock an "equal weight" rating in a report on Thursday, July 24th. Wolfe Research upgraded shares of Northern Trust from an "underperform" rating to a "peer perform" rating in a report on Thursday, July 24th. Finally, Truist Financial boosted their target price on shares of Northern Trust from $116.00 to $126.00 and gave the stock a "hold" rating in a report on Thursday, July 3rd. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, Northern Trust currently has a consensus rating of "Hold" and an average target price of $116.58.

Northern Trust Price Performance

Shares of NTRS stock opened at $125.65 on Monday. Northern Trust Corporation has a fifty-two week low of $81.62 and a fifty-two week high of $133.00. The firm has a market capitalization of $24.03 billion, a price-to-earnings ratio of 14.76, a PEG ratio of 1.67 and a beta of 1.28. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.72 and a current ratio of 0.72. The stock's 50-day simple moving average is $121.43 and its 200-day simple moving average is $108.69.

Northern Trust (NASDAQ:NTRS - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The asset manager reported $2.13 EPS for the quarter, beating analysts' consensus estimates of $2.08 by $0.05. The firm had revenue of $2 billion for the quarter, compared to analyst estimates of $1.96 billion. Northern Trust had a return on equity of 14.06% and a net margin of 11.75%. Northern Trust's revenue for the quarter was down 26.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.34 earnings per share. As a group, equities analysts forecast that Northern Trust Corporation will post 8.27 earnings per share for the current fiscal year.

Northern Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 5th will be given a $0.80 dividend. 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 2.5%. The ex-dividend date is Friday, September 5th. Northern Trust's payout ratio 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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