Korea Investment CORP Has $18.92 Million Position in Northern Trust Corporation $NTRS

Key Points

• Korea Investment Corporation increased its stake in Northern Trust Corporation (NTRS) by 15.5%, now owning 191,795 shares valued at approximately $18.92 million.
• Several large investors, including Bank of New York Mellon and Allianz Asset Management, significantly boosted their positions in Northern Trust during the first quarter, indicating strong institutional interest.
• Northern Trust recently declared a quarterly dividend of $0.80 per share, up from $0.75, reflecting a 2.5% yield and a payout ratio of 35.25%.

Korea Investment CORP grew its stake in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 15.5% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 191,795 shares of the asset manager's stock after buying an additional 25,678 shares during the period. Korea Investment CORP owned approximately 0.10% of Northern Trust worth $18,921,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in NTRS. Bank of New York Mellon Corp raised its position in 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 purchasing an additional 585,992 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in 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 purchasing an additional 363,472 shares in the last quarter. Asset Management One Co. Ltd. raised its position in 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 purchasing an additional 6,570 shares in the last quarter. Allianz Asset Management GmbH raised its position in Northern Trust by 529.4% in 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 in the last quarter. Finally, Kathmere Capital Management LLC raised its position in Northern Trust by 96.7% in the first quarter. Kathmere Capital Management LLC now owns 5,239 shares of the asset manager's stock worth $517,000 after purchasing an additional 2,575 shares in the last quarter. Institutional investors and hedge funds own 83.19% of the company's stock.

Insider Activity at Northern Trust

In related news, Director Robert Edward Jr. Moritz purchased 256 shares of the firm's stock in a transaction dated Wednesday, August 13th. The shares were acquired at an average cost of $126.34 per share, with a total value of $32,343.04. Following the completion of the purchase, the director directly owned 2,525 shares of the company's stock, valued at $319,008.50. This trade represents a 11.28% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.77% of the stock is owned by company insiders.

Northern Trust Price Performance

Shares of Northern Trust stock opened at $127.88 on Thursday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $24.45 billion, a price-to-earnings ratio of 15.03, a P/E/G ratio of 1.51 and a beta of 1.28. Northern Trust Corporation has a 1-year low of $81.62 and a 1-year high of $133.00. The firm's 50-day moving average price is $124.51 and its two-hundred day moving average price is $109.56.

Northern Trust (NASDAQ:NTRS - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $2 billion for the quarter, compared to analysts' expectations of $1.96 billion. During the same period in the prior year, the firm earned $4.34 earnings per share. The company's quarterly revenue was down 26.4% compared to the same quarter last year. On average, equities analysts predict that Northern Trust Corporation will post 8.27 earnings per share for the current fiscal year.

Northern Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 5th will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 2.5%. This is an increase 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 currently 35.25%.

Analyst Ratings Changes

NTRS has been the subject of several recent research reports. Morgan Stanley increased their price target on shares of Northern Trust from $103.00 to $106.00 and gave the stock an "underweight" rating in a research report on Tuesday, July 1st. Keefe, Bruyette & Woods reissued an "underperform" rating and issued a $118.00 price target (down previously from $120.00) on shares of Northern Trust in a research report on Thursday, July 24th. Evercore ISI increased their price target on shares of Northern Trust from $108.00 to $121.00 and gave the stock an "in-line" rating in a research report on Wednesday, July 2nd. Barclays upped their price objective on shares of Northern Trust from $128.00 to $136.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 24th. Finally, Wells Fargo & Company upped their price objective on shares of Northern Trust from $111.00 to $120.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 24th. Two equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Reduce" and a consensus target price of $117.08.

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.

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