2,464 Shares in Northern Trust Corporation $NTRS Bought by FORA Capital LLC

Key Points

• FORA Capital LLC acquired a new stake in Northern Trust Corporation, purchasing 2,464 shares valued at approximately $243,000 during the first quarter of the year.
• Northern Trust announced an increase in its quarterly dividend from $0.75 to $0.80, equating to an annualized dividend of $3.20 and a dividend yield of 2.4%.
• The company's stock saw a slight increase of 0.2%, opening at $131.28, with a market capitalization of $25.10 billion and a PE ratio of 15.43.

FORA Capital LLC bought a new stake in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,464 shares of the asset manager's stock, valued at approximately $243,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of Northern Trust by 57.1% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 205,828 shares of the asset manager's stock valued at $20,305,000 after purchasing an additional 74,800 shares during the last quarter. Freedom Investment Management Inc. lifted its holdings in Northern Trust by 85.0% in the first quarter. Freedom Investment Management Inc. now owns 4,981 shares of the asset manager's stock valued at $491,000 after buying an additional 2,289 shares during the period. Synovus Financial Corp boosted its position in Northern Trust by 196.6% during the first quarter. Synovus Financial Corp now owns 7,577 shares of the asset manager's stock valued at $747,000 after acquiring an additional 5,022 shares during the last quarter. Oak Harvest Investment Services boosted its position in Northern Trust by 8.2% during the first quarter. Oak Harvest Investment Services now owns 122,601 shares of the asset manager's stock valued at $12,095,000 after acquiring an additional 9,286 shares during the last quarter. Finally, Jump Financial LLC grew its holdings in Northern Trust by 609.5% during the 1st quarter. Jump Financial LLC now owns 14,935 shares of the asset manager's stock worth $1,473,000 after acquiring an additional 12,830 shares during the period. Institutional investors and hedge funds own 83.19% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Truist Financial raised their target price on Northern Trust from $128.00 to $132.00 and gave the stock a "hold" rating in a research note on Thursday, August 14th. Wall Street Zen cut Northern Trust from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. Barclays lifted their price target on Northern Trust from $128.00 to $136.00 and gave the company an "equal weight" rating in a research note 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, Royal Bank Of Canada set a $123.00 price target on Northern Trust and gave the stock an "outperform" rating in a report on Monday, June 30th. Two analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Reduce" and a consensus price target of $117.08.

Insider Buying and Selling

In other Northern Trust news, Director Robert Edward Jr. Moritz purchased 256 shares of the stock in a transaction on Wednesday, August 13th. The stock was acquired at an average cost of $126.34 per share, with a total value of $32,343.04. Following the completion of the purchase, the director directly owned 2,525 shares of the company's stock, valued at approximately $319,008.50. This trade represents a 11.28% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.77% of the stock is currently owned by insiders.

Northern Trust Price Performance

Shares of NTRS traded down $0.31 during trading hours on Thursday, reaching $129.39. 184,673 shares of the company's stock traded hands, compared to its average volume of 1,543,950. 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 Corporation has a 12 month low of $81.62 and a 12 month high of $133.00. The stock has a market cap of $24.74 billion, a PE ratio of 15.20, a price-to-earnings-growth ratio of 1.56 and a beta of 1.30. The firm's 50 day simple moving average is $127.92 and its 200-day simple moving average is $110.85.

Northern Trust (NASDAQ:NTRS - Get Free Report) last posted its quarterly earnings data 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 business's quarterly revenue was down 26.4% on a year-over-year basis. During the same quarter last year, the company posted $4.34 EPS. Equities analysts expect that Northern Trust Corporation will post 8.27 EPS for the current year.

Northern Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders 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 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%. 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.