EntryPoint Capital LLC Purchases New Shares in Northern Trust Corporation $NTRS

Key Points

• EntryPoint Capital LLC purchased 2,599 shares of Northern Trust Corporation, valued at approximately $256,000, in the first quarter of the year.
• Northern Trust reported a quarterly EPS of $2.13, beating estimates, but experienced a 26.4% decline in revenue compared to the previous year.
• The company is set to increase its quarterly dividend to $0.80 per share, representing a 2.5% dividend yield with a payout ratio of 37.60%.

EntryPoint Capital LLC purchased a new stake in Northern Trust Corporation (NASDAQ:NTRS - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 2,599 shares of the asset manager's stock, valued at approximately $256,000.

Other institutional investors have also made changes to their positions in the company. Bank of New York Mellon Corp raised its holdings in shares of Northern Trust by 47.8% in the first quarter. Bank of New York Mellon Corp now owns 1,810,816 shares of the asset manager's stock valued at $178,637,000 after buying an additional 585,992 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Northern Trust by 4.9% in the first quarter. Massachusetts Financial Services Co. MA now owns 7,850,088 shares of the asset manager's stock valued at $774,411,000 after buying an additional 363,472 shares during the last quarter. Asset Management One Co. Ltd. raised its holdings in shares of Northern Trust by 8.4% in the first quarter. Asset Management One Co. Ltd. now owns 84,974 shares of the asset manager's stock valued at $8,383,000 after buying an additional 6,570 shares during the last quarter. Allianz Asset Management GmbH raised its holdings in shares of Northern Trust by 529.4% in the first quarter. Allianz Asset Management GmbH now owns 461,383 shares of the asset manager's stock valued at $45,515,000 after buying an additional 388,081 shares during the last quarter. Finally, Kathmere Capital Management LLC increased its position in Northern Trust by 96.7% in the first quarter. Kathmere Capital Management LLC now owns 5,239 shares of the asset manager's stock worth $517,000 after purchasing an additional 2,575 shares during the period. 83.19% of the stock is owned by institutional investors.

Northern Trust Price Performance

Northern Trust stock opened at $130.06 on Friday. The firm has a market capitalization of $24.87 billion, a P/E ratio of 15.28, a PEG ratio of 1.51 and a beta of 1.28. Northern Trust Corporation has a 1 year low of $81.62 and a 1 year high of $133.00. The business has a 50-day moving average of $125.33 and a 200-day moving average of $109.80. 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 (NASDAQ:NTRS - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The asset manager reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.05. Northern Trust had a return on equity of 14.06% and a net margin of 11.75%.The business had revenue of $2 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same period in the previous year, the firm earned $4.34 EPS. Northern Trust's quarterly revenue was down 26.4% compared to the same quarter last year. On average, equities analysts anticipate that Northern Trust Corporation will post 8.27 EPS for the current year.

Northern Trust Increases Dividend

The firm 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 $0.80 dividend. The ex-dividend date is Friday, September 5th. This represents a $3.20 annualized dividend and a dividend yield of 2.5%. This is a boost from Northern Trust's previous quarterly dividend of $0.75. Northern Trust's payout ratio is presently 37.60%.

Insider Activity

In other Northern Trust news, Director Robert Edward Jr. Moritz acquired 256 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The stock was acquired at an average cost of $126.34 per share, for a total transaction of $32,343.04. Following the transaction, the director owned 2,525 shares of the company's stock, valued at $319,008.50. This trade represents a 11.28% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.77% of the company's stock.

Analyst Upgrades and Downgrades

NTRS has been the subject of a number of research reports. Wolfe Research upgraded Northern Trust from an "underperform" rating to a "peer perform" rating in a research report on Thursday, July 24th. Wells Fargo & Company lifted their price objective on Northern Trust from $111.00 to $120.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 24th. The Goldman Sachs Group lifted their price objective on Northern Trust from $89.00 to $101.00 and gave the stock a "sell" rating in a research report on Wednesday, July 2nd. Morgan Stanley lifted their price objective on Northern Trust from $103.00 to $106.00 and gave the stock an "underweight" rating in a research report on Tuesday, July 1st. Finally, Keefe, Bruyette & Woods reiterated an "underperform" rating and issued a $118.00 price objective (down from $120.00) on shares of Northern Trust in a research report on Thursday, July 24th. Two investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Northern Trust presently has an average rating of "Reduce" and an average price target of $117.08.

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.

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