Invesco Ltd. Boosts Stake in Northern Trust Corporation (NASDAQ:NTRS)

Key Points

• Invesco Ltd. has increased its holdings in Northern Trust Corporation by 19.3%, acquiring an additional 558,287 shares, bringing its total ownership to approximately 1.77%, worth $339.7 million.
• Northern Trust recently declared a quarterly dividend of $0.80, up from the previous $0.75, representing an annualized dividend yield of 2.6%.
• The company's latest earnings report showed a net income decline of 26.4% year-over-year, though it topped analyst expectations with earnings per share of $2.13.

Invesco Ltd. lifted its holdings in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 19.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,443,599 shares of the asset manager's stock after acquiring an additional 558,287 shares during the period. Invesco Ltd. owned approximately 1.77% of Northern Trust worth $339,711,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in NTRS. Bank of New York Mellon Corp increased its position in shares of 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 worth $178,637,000 after acquiring an additional 585,992 shares in the last quarter. Royal Bank of Canada boosted its holdings in Northern Trust by 60.2% during the fourth quarter. Royal Bank of Canada now owns 1,497,484 shares of the asset manager's stock worth $153,493,000 after purchasing an additional 562,976 shares during the last quarter. Raiffeisen Bank International AG purchased a new position in Northern Trust during the fourth quarter worth about $46,197,000. GAMMA Investing LLC boosted its holdings in Northern Trust by 10,340.5% during the first quarter. GAMMA Investing LLC now owns 445,602 shares of the asset manager's stock worth $43,959,000 after purchasing an additional 441,334 shares during the last quarter. Finally, Allianz Asset Management GmbH boosted its holdings 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 last quarter. 83.19% of the stock is owned by institutional investors.

Northern Trust Price Performance

NASDAQ NTRS traded down $2.47 on Friday, hitting $126.02. The stock had a trading volume of 787,506 shares, compared to its average volume of 1,404,009. 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 has a market capitalization of $24.10 billion, a price-to-earnings ratio of 14.81, a price-to-earnings-growth ratio of 1.70 and a beta of 1.28. The firm has a 50-day moving average of $123.41 and a 200-day moving average of $109.25.

Northern Trust (NASDAQ:NTRS - Get Free Report) last posted 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. The business 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 revenue for the quarter was down 26.4% compared to the same quarter last year. During the same period in the prior 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 business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 5th will be given a dividend of $0.80 per share. This is an increase from Northern Trust's previous quarterly dividend of $0.75. The ex-dividend date is Friday, September 5th. This represents a $3.20 annualized dividend and a dividend yield of 2.5%. Northern Trust's dividend payout ratio is 35.25%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on NTRS shares. Wells Fargo & Company boosted their price target on shares of Northern Trust from $111.00 to $120.00 and gave the stock an "equal weight" rating in a report on Thursday, July 24th. Evercore ISI boosted their price target on shares of Northern Trust from $108.00 to $121.00 and gave the stock an "in-line" rating in a report on Wednesday, July 2nd. Morgan Stanley boosted their price target on shares of Northern Trust from $103.00 to $106.00 and gave the stock an "underweight" rating in a report on Tuesday, July 1st. Wolfe Research upgraded shares of Northern Trust from an "underperform" rating to a "peer perform" rating in a report on Thursday, July 24th. Finally, Wall Street Zen cut shares of Northern Trust from a "hold" rating to a "sell" rating in a report on Saturday. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $117.08.

Northern Trust Company Profile

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.