Hancock Whitney Corp Makes New $411,000 Investment in Northern Trust Corporation $NTRS

Key Points

• Hancock Whitney Corp has invested approximately $411,000 to acquire 4,170 shares of Northern Trust Corporation in the first quarter.
• Several hedge funds significantly increased their stakes in Northern Trust, with 83.19% of the stock now owned by institutional investors.
• Northern Trust recently declared an increased quarterly dividend of $0.80 per share, up from $0.75, representing a dividend yield of 2.5%.

Hancock Whitney Corp acquired a new stake in Northern Trust Corporation (NASDAQ:NTRS - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 4,170 shares of the asset manager's stock, valued at approximately $411,000.

Other institutional investors have also bought and sold shares of the company. Colonial Trust Co SC lifted its stake in Northern Trust by 6,400.0% in the fourth quarter. Colonial Trust Co SC now owns 260 shares of the asset manager's stock valued at $27,000 after purchasing an additional 256 shares during the last quarter. Continuum Advisory LLC lifted its stake in Northern Trust by 5,340.0% in the first quarter. Continuum Advisory LLC now owns 272 shares of the asset manager's stock valued at $27,000 after purchasing an additional 267 shares during the last quarter. Zions Bancorporation National Association UT purchased a new position in Northern Trust in the first quarter valued at approximately $29,000. Wayfinding Financial LLC purchased a new position in Northern Trust in the first quarter valued at approximately $35,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in Northern Trust in the first quarter valued at approximately $43,000. Hedge funds and other institutional investors own 83.19% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Zacks Research downgraded Northern Trust from a "strong-buy" rating to a "hold" rating in a research note on Tuesday. Wolfe Research upgraded Northern Trust from an "underperform" rating to a "peer perform" rating in a research report on Thursday, July 24th. Royal Bank Of Canada set a $123.00 target price on Northern Trust and gave the stock an "outperform" rating in a research report on Monday, June 30th. The Goldman Sachs Group increased their target price on Northern Trust from $89.00 to $101.00 and gave the stock a "sell" rating in a research report on Wednesday, July 2nd. Finally, Morgan Stanley increased 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. Two analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Northern Trust has a consensus rating of "Reduce" and a consensus price target of $119.58.

Insider Activity at Northern Trust

In related news, Director Robert Edward Jr. Moritz acquired 256 shares of the stock in a transaction dated 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 completion of the purchase, the director owned 2,525 shares of the company's stock, valued at approximately $319,008.50. This represents a 11.28% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.77% of the company's stock.

Northern Trust Trading Down 0.3%

NASDAQ NTRS traded down $0.44 during trading on Friday, hitting $129.05. The stock had a trading volume of 198,996 shares, compared to its average volume of 1,532,392. 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 has a market capitalization of $24.68 billion, a price-to-earnings ratio of 15.17, a P/E/G ratio of 1.51 and a beta of 1.30. Northern Trust Corporation has a one year low of $81.62 and a one year high of $133.00. The stock has a 50 day simple moving average of $128.00 and a 200 day simple moving average of $111.49.

Northern Trust (NASDAQ:NTRS - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter last year, the firm earned $4.34 earnings per share. The firm's quarterly revenue was down 26.4% compared to the same quarter last year. Sell-side analysts predict that Northern Trust Corporation will post 8.27 earnings per share for the current year.

Northern Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 5th will be paid 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 annualized dividend and a dividend yield of 2.5%. Northern Trust's payout ratio is presently 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.