Kathmere Capital Management LLC Purchases 2,917 Shares of Northern Trust Corporation $NTRS

Key Points

• Kathmere Capital Management LLC increased its stake in Northern Trust Corporation by 55.7%, acquiring an additional 2,917 shares to reach a total of 8,156 shares valued at approximately $1.03 million.
• Multiple institutional investors, including Bank of New York Mellon Corp and Allianz Asset Management GmbH, have significantly expanded their holdings in Northern Trust, reflecting a growing interest in the company.
• Northern Trust announced an increase in its quarterly dividend from $0.75 to $0.80 per share, which translates to an annualized yield of 2.4%, effective for shareholders on record by September 5th.

Kathmere Capital Management LLC lifted its position in Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 55.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 8,156 shares of the asset manager's stock after purchasing an additional 2,917 shares during the quarter. Kathmere Capital Management LLC's holdings in Northern Trust were worth $1,034,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Bank of New York Mellon Corp grew its holdings in Northern Trust by 47.8% during the 1st 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 during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Northern Trust by 4.9% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 7,850,088 shares of the asset manager's stock worth $774,411,000 after acquiring an additional 363,472 shares during the last quarter. Asset Management One Co. Ltd. grew its holdings in Northern Trust by 8.4% during the 1st quarter. Asset Management One Co. Ltd. now owns 84,974 shares of the asset manager's stock worth $8,383,000 after acquiring an additional 6,570 shares during the last quarter. Allianz Asset Management GmbH grew its holdings in Northern Trust by 529.4% during the 1st quarter. Allianz Asset Management GmbH now owns 461,383 shares of the asset manager's stock worth $45,515,000 after acquiring an additional 388,081 shares during the last quarter. Finally, Edgestream Partners L.P. bought a new stake in Northern Trust during the 1st quarter worth about $6,567,000. Institutional investors own 83.19% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on NTRS. Wolfe Research raised shares of Northern Trust from an "underperform" rating to a "peer perform" rating in a report on Thursday, July 24th. Truist Financial raised their target price on shares of Northern Trust from $128.00 to $132.00 and gave the company a "hold" rating in a research note on Thursday, August 14th. The Goldman Sachs Group raised their target price on shares of Northern Trust from $89.00 to $101.00 and gave the company a "sell" rating in a research note on Wednesday, July 2nd. Keefe, Bruyette & Woods reaffirmed an "underperform" rating and issued a $118.00 target price (down previously from $120.00) on shares of Northern Trust in a research note on Thursday, July 24th. Finally, Wall Street Zen raised shares of Northern Trust from a "sell" rating to a "hold" rating in a research note on Friday. Three analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, Northern Trust has an average rating of "Hold" and an average target price of $119.58.

Insider Buying and Selling

In related news, Director Robert Edward Jr. Moritz acquired 256 shares of Northern Trust stock in a transaction on Wednesday, August 13th. The stock was purchased at an average cost of $126.34 per share, with a total value of $32,343.04. Following the completion of the transaction, the director directly owned 2,525 shares in the company, valued at $319,008.50. This trade represents a 11.28% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.77% of the stock is currently owned by company insiders.

Northern Trust Price Performance

Shares of NTRS opened at $133.31 on Friday. The stock has a market capitalization of $25.49 billion, a P/E ratio of 15.67, a P/E/G ratio of 1.58 and a beta of 1.30. Northern Trust Corporation has a twelve month low of $81.62 and a twelve month high of $135.00. The company has a 50 day moving average of $128.86 and a 200-day moving average of $113.48. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.58.

Northern Trust (NASDAQ:NTRS - Get Free Report) last issued its quarterly earnings results 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. Northern Trust had a net margin of 11.75% and a return on equity of 14.06%. The company had revenue of $2 billion during the quarter, compared to analysts' expectations of $1.96 billion. During the same period last year, the business earned $4.34 EPS. The business's quarterly revenue was down 26.4% on a year-over-year basis. As a group, equities research analysts forecast 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. Shareholders of record on Friday, September 5th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 2.4%. This is a positive change from Northern Trust's previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Friday, September 5th. Northern Trust's dividend payout ratio (DPR) is presently 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.

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