Jump Financial LLC Raises Stock Holdings in Northern Trust Corporation $NTRS

Key Points

• Jump Financial LLC significantly increased its stake in Northern Trust Corporation by 609.5% during the first quarter, owning 14,935 shares worth approximately $1.47 million.
• Northern Trust recently announced a quarterly dividend increase from $0.75 to $0.80 per share, with an annualized dividend yield of 2.4%.
• The company's recent earnings report showed a net margin of 11.75% with $2.13 EPS, surpassing analysts' expectations, although revenue decreased by 26.4% compared to the previous year.

Jump Financial LLC increased its position in Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 609.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,935 shares of the asset manager's stock after buying an additional 12,830 shares during the period. Jump Financial LLC's holdings in Northern Trust were worth $1,473,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its position in shares of Northern Trust by 47.8% in 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 buying an additional 585,992 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Northern Trust by 4.9% in the first quarter. Massachusetts Financial Services Co. MA now owns 7,850,088 shares of the asset manager's stock worth $774,411,000 after buying an additional 363,472 shares in the last quarter. Asset Management One Co. Ltd. lifted its position in shares of Northern Trust by 8.4% in the first quarter. Asset Management One Co. Ltd. now owns 84,974 shares of the asset manager's stock worth $8,383,000 after buying an additional 6,570 shares in the last quarter. Allianz Asset Management GmbH raised its position 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 valued at $45,515,000 after purchasing an additional 388,081 shares during the period. Finally, Kathmere Capital Management LLC raised its position in Northern Trust by 96.7% during the first quarter. Kathmere Capital Management LLC now owns 5,239 shares of the asset manager's stock valued at $517,000 after purchasing an additional 2,575 shares during the period. 83.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NTRS has been the topic of a number of recent research reports. Truist Financial upped their price objective on Northern Trust from $128.00 to $132.00 and gave the company a "hold" rating in a research report on Thursday, August 14th. Wall Street Zen cut Northern Trust from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. The Goldman Sachs Group upped their target price on Northern Trust from $89.00 to $101.00 and gave the company a "sell" rating in a research note on Wednesday, July 2nd. Barclays upped their target price on Northern Trust from $128.00 to $136.00 and gave the company an "equal weight" rating in a research note on Thursday, July 24th. Finally, Wolfe Research raised Northern Trust from an "underperform" rating to a "peer perform" rating in a research note on Thursday, July 24th. Two investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Reduce" and an average target price of $117.08.

Northern Trust Stock Up 0.1%

NASDAQ NTRS traded up $0.16 during midday trading on Wednesday, hitting $129.93. 110,943 shares of the company traded hands, compared to its average volume of 1,547,868. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.72 and a quick ratio of 0.72. The company has a market cap of $24.85 billion, a PE ratio of 15.27, a price-to-earnings-growth ratio of 1.56 and a beta of 1.30. The company's 50-day simple moving average is $127.81 and its 200-day simple moving average is $110.72. Northern Trust Corporation has a 52 week low of $81.62 and a 52 week high of $133.00.

Northern Trust (NASDAQ:NTRS - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The asset manager reported $2.13 earnings per share (EPS) for the quarter, beating 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 return on equity of 14.06% and a net margin of 11.75%.The business's revenue for the quarter was down 26.4% on a year-over-year basis. During the same quarter last year, the firm earned $4.34 EPS. As a group, equities research analysts forecast that Northern Trust Corporation will post 8.27 earnings per share for the current year.

Northern Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 5th will be issued a dividend of $0.80 per share. The ex-dividend date 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 (DPR) is currently 35.25%.

Insider Activity at Northern Trust

In other Northern Trust news, Director Robert Edward Jr. Moritz acquired 256 shares of the firm's stock in a transaction dated Wednesday, August 13th. The stock was purchased at an average price of $126.34 per share, for a total transaction of $32,343.04. Following the acquisition, the director owned 2,525 shares in the company, valued at approximately $319,008.50. This trade represents a 11.28% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.77% of the company's stock.

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.