Gamco Investors INC. ET AL Decreases Stock Holdings in Northern Trust Corporation $NTRS

Key Points

• Gamco Investors INC. ET AL reduced its stake in Northern Trust Corporation by 5.5%, holding 184,846 shares valued at approximately $18.2 million after selling 10,849 shares in the first quarter.
• Northern Trust has announced an increase in its quarterly dividend from $0.75 to $0.80, representing an annualized payout of $3.20 and a yield of 2.4%.
• The company's stock shows a 52-week range with a low of $81.62 and a high of $133.00, and it recently reported EPS of $2.13, exceeding expectations by $0.05.

Gamco Investors INC. ET AL lowered its stake in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 5.5% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 184,846 shares of the asset manager's stock after selling 10,849 shares during the quarter. Gamco Investors INC. ET AL owned approximately 0.10% of Northern Trust worth $18,235,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its position in Northern Trust by 47.8% during 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 period. Massachusetts Financial Services Co. MA boosted its position in Northern Trust by 4.9% during the first quarter. Massachusetts Financial Services Co. MA now owns 7,850,088 shares of the asset manager's stock worth $774,411,000 after purchasing an additional 363,472 shares during the period. Asset Management One Co. Ltd. boosted its position in Northern Trust by 8.4% during the first quarter. Asset Management One Co. Ltd. now owns 84,974 shares of the asset manager's stock worth $8,383,000 after purchasing an additional 6,570 shares during the period. Allianz Asset Management GmbH boosted its position in Northern Trust by 529.4% during the first quarter. Allianz Asset Management GmbH now owns 461,383 shares of the asset manager's stock worth $45,515,000 after purchasing an additional 388,081 shares during the period. Finally, Kathmere Capital Management LLC boosted its position in Northern Trust by 96.7% during 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. Institutional investors own 83.19% of the company's stock.

Northern Trust Price Performance

Shares of NTRS stock traded up $0.29 during trading hours on Monday, hitting $131.28. 852,982 shares of the company's stock were exchanged, compared to its average volume of 998,324. The company has a market capitalization of $25.11 billion, a PE ratio of 15.43, a PEG ratio of 1.56 and a beta of 1.30. Northern Trust Corporation has a 12-month low of $81.62 and a 12-month high of $133.00. The business's 50 day simple moving average is $127.37 and its 200-day simple moving average is $110.45. 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 earnings results on Wednesday, July 23rd. The asset manager reported $2.13 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $2 billion for the quarter, compared to analysts' expectations of $1.96 billion. During the same quarter last year, the business earned $4.34 earnings per share. The business's revenue was down 26.4% on a year-over-year basis. On average, equities research 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 announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 5th will be issued a $0.80 dividend. This is a positive change from Northern Trust's previous quarterly dividend of $0.75. This represents a $3.20 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Friday, September 5th. Northern Trust's dividend payout ratio (DPR) is 37.60%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Wells Fargo & Company increased their target price on shares of Northern Trust from $111.00 to $120.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 24th. Barclays increased their target price on shares of Northern Trust from $128.00 to $136.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 24th. Wall Street Zen lowered shares of Northern Trust from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. Royal Bank Of Canada set a $123.00 price target on shares of Northern Trust and gave the stock an "outperform" rating in a report on Monday, June 30th. Finally, Truist Financial increased their price target on shares of Northern Trust from $128.00 to $132.00 and gave the stock a "hold" rating in a report on Thursday, August 14th. Two research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Reduce" and a consensus price target of $117.08.

Insider Activity

In related news, Director Robert Edward Jr. Moritz purchased 256 shares of the business's stock in a transaction that occurred on Wednesday, August 13th. The shares were acquired at an average price of $126.34 per share, for a total transaction of $32,343.04. Following the completion of the acquisition, the director directly owned 2,525 shares in the company, valued at approximately $319,008.50. The trade was a 11.28% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.77% of the company's stock.

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.