Ieq Capital LLC Purchases New Holdings in Northern Trust Corporation $NTRS

Key Points

• Ieq Capital LLC acquired 125,067 Northern Trust shares worth approximately $21.7 million, giving it a 0.07% stake. Institutional investors collectively own 83.19% of the company.
• Northern Trust reported quarterly EPS of $4.23, well above the $2.71 consensus estimate, while revenue rose 35.1% year over year to $2.71 billion.
• The company raised its quarterly dividend from $0.80 to $0.88 per share, equivalent to an annualized $3.52 payout and a 1.9% yield. Analysts’ average rating remains “Hold,” with an average price target of $180.68.

Ieq Capital LLC acquired a new position in Northern Trust Corporation (NASDAQ:NTRS - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 125,067 shares of the asset manager's stock, valued at approximately $21,742,000. Ieq Capital LLC owned 0.07% of Northern Trust at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. acquired a new stake in Northern Trust during the second quarter worth $2,523,781,000. State Street Corp boosted its position in shares of Northern Trust by 1.0% during the 3rd quarter. State Street Corp now owns 9,493,634 shares of the asset manager's stock valued at $1,285,236,000 after acquiring an additional 97,584 shares in the last quarter. Invesco Ltd. increased its stake in Northern Trust by 8.7% in the fourth quarter. Invesco Ltd. now owns 3,747,840 shares of the asset manager's stock valued at $511,917,000 after acquiring an additional 301,164 shares during the period. Goldman Sachs Group Inc. raised its position in Northern Trust by 5.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,894,755 shares of the asset manager's stock worth $395,395,000 after purchasing an additional 161,826 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Northern Trust by 1.5% during the first quarter. Dimensional Fund Advisors LP now owns 2,455,996 shares of the asset manager's stock worth $342,744,000 after purchasing an additional 36,322 shares during the period. 83.19% of the stock is currently owned by institutional investors.

Northern Trust Price Performance

Shares of NTRS stock opened at $183.90 on Friday. Northern Trust Corporation has a 52 week low of $121.12 and a 52 week high of $195.78. The stock has a market capitalization of $33.65 billion, a PE ratio of 15.79, a PEG ratio of 1.03 and a beta of 1.25. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.65 and a current ratio of 0.65. The stock's fifty day moving average is $181.52 and its 200-day moving average is $163.27.

Northern Trust (NASDAQ:NTRS - Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The asset manager reported $4.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.71 by $1.52. Northern Trust had a net margin of 14.76% and a return on equity of 16.91%. The business had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.69 billion. During the same quarter in the prior year, the company earned $2.13 EPS. The firm's quarterly revenue was up 35.1% on a year-over-year basis. Equities research analysts expect that Northern Trust Corporation will post 11.59 EPS for the current fiscal year.

Northern Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 4th will be issued a $0.88 dividend. This is an increase from Northern Trust's previous quarterly dividend of $0.80. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, September 4th. Northern Trust's dividend payout ratio (DPR) is 27.47%.

Insider Buying and Selling at Northern Trust

In related news, Director Robert Edward Jr. Moritz acquired 255 shares of the company's stock in a transaction that occurred on Wednesday, July 29th. The stock was purchased at an average price of $179.57 per share, for a total transaction of $45,790.35. Following the transaction, the director directly owned 8,400 shares of the company's stock, valued at approximately $1,508,388. This trade represents a 3.13% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.66% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NTRS. UBS Group set a $186.00 target price on Northern Trust in a report on Friday, June 26th. Zacks Research upgraded Northern Trust from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 12th. Evercore set a $179.00 price objective on Northern Trust in a report on Monday, July 6th. Wells Fargo & Company boosted their target price on shares of Northern Trust from $189.00 to $194.00 and gave the company an "equal weight" rating in a research note on Thursday, July 23rd. Finally, JPMorgan Chase & Co. upped their target price on shares of Northern Trust from $179.50 to $185.50 and gave the stock a "neutral" rating in a report on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $180.68.

Northern Trust Profile

Northern Trust Corporation NASDAQ: NTRS is a global financial services firm headquartered in Chicago that provides asset servicing, asset management and wealth management solutions to institutions, corporations and high-net-worth individuals. The company's core businesses include custody and fund administration, investment operations outsourcing, trust and fiduciary services, private banking, and retirement and defined contribution plan services.

Northern Trust's product and service offerings span custody and fund accounting, portfolio and performance analytics, securities lending, cash management and foreign exchange, as well as discretionary and non-discretionary investment management.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source