JPMorgan Chase & Co. Has $262.35 Million Holdings in Northern Trust Corporation (NASDAQ:NTRS)

Key Points

• JPMorgan Chase & Co. reduced its holdings in Northern Trust Corporation by 10.3%, now owning approximately 1.37% of the company worth $262.3 million.
• In recent analyst updates, Barclays raised their price target for Northern Trust from $128.00 to $136.00 while Keefe, Bruyette & Woods maintained an "underperform" rating with a price objective of $118.00.
• Northern Trust recently announced an increase in its quarterly dividend from $0.75 to $0.80 per share, representing an annualized yield of 2.5%.

JPMorgan Chase & Co. lowered its stake in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 10.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,659,370 shares of the asset manager's stock after selling 303,833 shares during the period. JPMorgan Chase & Co. owned 1.37% of Northern Trust worth $262,347,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in NTRS. Connor Clark & Lunn Investment Management Ltd. raised its stake in Northern Trust by 26.3% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 16,713 shares of the asset manager's stock valued at $1,649,000 after acquiring an additional 3,482 shares during the period. Zions Bancorporation National Association UT bought a new stake in Northern Trust in the 1st quarter valued at $29,000. National Bank of Canada FI raised its stake in Northern Trust by 59.3% in the 1st quarter. National Bank of Canada FI now owns 147,872 shares of the asset manager's stock valued at $14,588,000 after acquiring an additional 55,046 shares during the period. Citigroup Inc. raised its stake in Northern Trust by 32.2% in the 1st quarter. Citigroup Inc. now owns 198,910 shares of the asset manager's stock valued at $19,622,000 after acquiring an additional 48,420 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Northern Trust by 9.9% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 357,996 shares of the asset manager's stock valued at $35,316,000 after acquiring an additional 32,366 shares during the period. Institutional investors own 83.19% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on NTRS shares. Wells Fargo & Company increased their price target on Northern Trust from $111.00 to $120.00 and gave the company an "equal weight" rating in a research note on Thursday, July 24th. Barclays increased their price objective on 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 cut Northern Trust from a "hold" rating to a "sell" rating in a research report on Saturday. Wolfe Research upgraded Northern Trust from an "underperform" rating to a "peer perform" rating in a research report on Thursday, July 24th. Finally, Royal Bank Of Canada set a $123.00 price objective on Northern Trust and gave the stock an "outperform" rating in a research report on Monday, June 30th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $117.08.

Northern Trust Price Performance

Shares of NTRS traded down $2.47 during trading hours on Friday, hitting $126.02. 787,506 shares of the company were exchanged, compared to its average volume of 1,404,009. The company has a market cap of $24.10 billion, a price-to-earnings ratio of 14.81, a P/E/G ratio of 1.67 and a beta of 1.28. Northern Trust Corporation has a fifty-two week low of $81.62 and a fifty-two week high of $133.00. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.58. The firm's fifty day moving average is $123.41 and its 200 day moving average is $109.23.

Northern Trust (NASDAQ:NTRS - Get Free Report) last released 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 company had revenue of $2 billion for 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%. Northern Trust's quarterly revenue was down 26.4% on a year-over-year basis. During the same period in the prior year, the firm posted $4.34 EPS. On average, equities analysts anticipate that Northern Trust Corporation will post 8.27 earnings per share for the current fiscal year.

Northern Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 5th will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 2.5%. This is a boost from Northern Trust's previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Friday, September 5th. Northern Trust's payout ratio is 37.60%.

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.