Earnest Partners LLC decreased its holdings in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 89.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,917 shares of the asset manager's stock after selling 76,346 shares during the quarter. Earnest Partners LLC's holdings in Northern Trust were worth $880,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Colonial Trust Co SC lifted its holdings in shares of Northern Trust by 6,400.0% in the 4th quarter. Colonial Trust Co SC now owns 260 shares of the asset manager's stock worth $27,000 after acquiring an additional 256 shares during the last quarter. Continuum Advisory LLC lifted its holdings in shares of 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 last quarter. Zions Bancorporation National Association UT purchased a new position in Northern Trust in the 1st quarter worth about $29,000. Wayfinding Financial LLC purchased a new position in Northern Trust in the 1st quarter worth about $35,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in Northern Trust in the 1st quarter worth about $43,000. Institutional investors own 83.19% of the company's stock.
Northern Trust Price Performance
NTRS traded up $0.29 on Friday, hitting $131.28. 852,982 shares of the company's stock were exchanged, compared to its average volume of 998,324. Northern Trust Corporation has a fifty-two week low of $81.62 and a fifty-two week high of $133.00. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.58. The firm has a 50-day moving average price of $127.37 and a 200-day moving average price of $110.45. The stock has a market cap of $25.10 billion, a price-to-earnings ratio of 15.43, a P/E/G ratio of 1.56 and a beta of 1.30.
Northern Trust (NASDAQ:NTRS - Get Free Report) last announced its quarterly 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 firm had revenue of $2 billion for the quarter, compared to analysts' expectations of $1.96 billion. Northern Trust had a net margin of 11.75% and a return on equity of 14.06%. The company's revenue was down 26.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.34 EPS. As a group, equities analysts anticipate that Northern Trust Corporation will post 8.27 earnings per share for the current year.
Northern Trust Increases Dividend
The company also recently declared 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 represents a $3.20 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, September 5th. This is a positive change from Northern Trust's previous quarterly dividend of $0.75. Northern Trust's dividend payout ratio is presently 35.25%.
Analyst Ratings Changes
NTRS has been the topic of several recent analyst reports. Truist Financial raised their price target on shares of Northern Trust from $128.00 to $132.00 and gave the stock a "hold" rating in a research note on Thursday, August 14th. Evercore ISI raised their price target 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. Wolfe Research raised shares of Northern Trust from an "underperform" rating to a "peer perform" rating in a research report on Thursday, July 24th. Keefe, Bruyette & Woods reissued an "underperform" rating and set a $118.00 target price (down previously from $120.00) on shares of Northern Trust in a research report on Thursday, July 24th. Finally, Wells Fargo & Company raised their target price on shares of Northern Trust from $111.00 to $120.00 and gave the company an "equal weight" rating in a research report on Thursday, July 24th. Two equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Reduce" and an average price target of $117.08.
View Our Latest Report on Northern Trust
Insider Buying and Selling at Northern Trust
In other news, Director Robert Edward Jr. Moritz purchased 256 shares of the stock in a transaction dated Wednesday, August 13th. The shares were purchased at an average price of $126.34 per share, with a total value of $32,343.04. Following the transaction, the director owned 2,525 shares in the company, valued at $319,008.50. The trade was a 11.28% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.77% of the company's stock.
About Northern Trust
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Free Report)
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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