Ieq Capital LLC Has $2.83 Million Stock Position in Northern Trust Corporation $NTRS

Key Points

• Ieq Capital LLC has reduced its stake in Northern Trust Corporation by 34.1% during the first quarter, resulting in holdings of 28,687 shares valued at approximately $2.83 million.
• Brokerages have mixed opinions on Northern Trust, with recent price targets ranging from $89.00 to $132.00, while the company currently has a consensus rating of "Reduce."
• Northern Trust announced an increase in its quarterly dividend from $0.75 to $0.80, reflecting an annualized dividend yield of 2.4% for shareholders of record.

Ieq Capital LLC cut its stake in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 34.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,687 shares of the asset manager's stock after selling 14,848 shares during the quarter. Ieq Capital LLC's holdings in Northern Trust were worth $2,830,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in NTRS. Colonial Trust Co SC grew its holdings in shares of Northern Trust by 6,400.0% during 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 grew its position in shares of Northern Trust by 5,340.0% during the first 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 bought a new position in shares of Northern Trust during the first quarter worth about $29,000. Wayfinding Financial LLC bought a new position in shares of Northern Trust during the first quarter worth about $35,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of Northern Trust during the first quarter worth about $43,000. 83.19% of the stock is owned by institutional investors.

Insider Buying and Selling at Northern Trust

In related news, Director Robert Edward Jr. Moritz acquired 256 shares of Northern Trust stock in a transaction dated 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 purchase, the director directly 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.77% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on NTRS. The Goldman Sachs Group upped their price target on shares of Northern Trust from $89.00 to $101.00 and gave the stock a "sell" rating in a research report on Wednesday, July 2nd. Truist Financial increased their price objective on Northern Trust from $128.00 to $132.00 and gave the stock a "hold" rating in a report on Thursday, August 14th. Barclays increased their price objective on Northern Trust from $128.00 to $136.00 and gave the stock an "equal weight" rating in a report on Thursday, July 24th. Wells Fargo & Company increased 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. Finally, Morgan Stanley increased their target price on shares of Northern Trust from $103.00 to $106.00 and gave the company an "underweight" rating in a research report on Tuesday, July 1st. Two analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Reduce" and a consensus target price of $117.08.

Northern Trust Price Performance

Shares of NASDAQ:NTRS traded down $0.36 during trading hours on Thursday, hitting $129.35. 538,210 shares of the company's stock traded hands, compared to its average volume of 1,545,982. Northern Trust Corporation has a 52 week low of $81.62 and a 52 week high of $133.00. 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 company's fifty day simple moving average is $127.92 and its two-hundred day simple moving average is $110.85. The company has a market cap of $24.74 billion, a price-to-earnings ratio of 15.20, a price-to-earnings-growth ratio of 1.56 and a beta of 1.30.

Northern Trust (NASDAQ:NTRS - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The asset manager reported $2.13 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.05. The business had revenue of $2 billion during the quarter, compared to analyst estimates of $1.96 billion. Northern Trust had a return on equity of 14.06% and a net margin of 11.75%.The company's revenue was down 26.4% compared to the same quarter last year. During the same period last year, the company posted $4.34 EPS. As a group, equities analysts anticipate that Northern Trust Corporation will post 8.27 EPS for the current fiscal 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 of this dividend 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 dividend payout ratio 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.