MBB Public Markets I LLC Makes New Investment in Northern Trust Corporation $NTRS

Key Points

• MBB Public Markets I LLC has made a new investment in Northern Trust Corporation, purchasing 3,100 shares valued at approximately $306,000 in the first quarter of the year.
• Northern Trust recently increased its quarterly dividend from $0.75 to $0.80, representing a yield of 2.5% and showing a commitment to returning value to shareholders.
• The company's recent earnings report showed a net margin of 11.75% and a 26.4% revenue decline year-over-year, despite beating earnings expectations with $2.13 per share.

MBB Public Markets I LLC purchased a new position in Northern Trust Corporation (NASDAQ:NTRS - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,100 shares of the asset manager's stock, valued at approximately $306,000.

Several other hedge funds have also added to or reduced their stakes in NTRS. Bank of New York Mellon Corp raised its stake 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 valued at $178,637,000 after acquiring an additional 585,992 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Northern Trust by 4.9% during the first quarter. Massachusetts Financial Services Co. MA now owns 7,850,088 shares of the asset manager's stock valued at $774,411,000 after acquiring an additional 363,472 shares during the last quarter. Asset Management One Co. Ltd. raised its stake in shares of Northern Trust by 8.4% during the first quarter. Asset Management One Co. Ltd. now owns 84,974 shares of the asset manager's stock valued at $8,383,000 after acquiring an additional 6,570 shares during the last quarter. Allianz Asset Management GmbH raised its stake in shares of 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 acquiring an additional 388,081 shares during the last quarter. Finally, Kathmere Capital Management LLC raised its stake in shares of 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 acquiring an additional 2,575 shares during the last quarter. 83.19% of the stock is owned by institutional investors.

Northern Trust Price Performance

Shares of NASDAQ NTRS opened at $127.06 on Thursday. The stock has a market capitalization of $24.30 billion, a P/E ratio of 14.93, a P/E/G ratio of 1.53 and a beta of 1.30. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.72 and a quick ratio of 0.72. Northern Trust Corporation has a 1 year low of $81.62 and a 1 year high of $133.00. The company's 50-day moving average is $128.04 and its 200 day moving average is $111.37.

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, beating 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 during the quarter, compared to analyst estimates of $1.96 billion. During the same period last year, the business earned $4.34 earnings per share. The business's revenue was down 26.4% on a year-over-year basis. On average, sell-side analysts expect that Northern Trust Corporation will post 8.27 earnings per share for the current year.

Northern Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 5th will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 2.5%. 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 is presently 37.60%.

Insider Buying and Selling

In related news, Director Robert Edward Jr. Moritz bought 256 shares of the company's stock in a transaction on 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 acquisition, the director owned 2,525 shares of the company's stock, valued at $319,008.50. The trade was a 11.28% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.77% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on NTRS. Royal Bank Of Canada set a $123.00 price objective on shares of Northern Trust and gave the company an "outperform" rating in a research note on Monday, June 30th. Morgan Stanley upped their price objective on shares of Northern Trust from $103.00 to $106.00 and gave the company an "underweight" rating in a research note on Tuesday, July 1st. The Goldman Sachs Group boosted their price target on shares of Northern Trust from $89.00 to $101.00 and gave the company a "sell" rating in a research report on Wednesday, July 2nd. Citigroup boosted their price target on shares of Northern Trust from $110.00 to $135.00 and gave the company a "neutral" rating in a research report on Friday, September 5th. Finally, Barclays boosted their price target on shares of Northern Trust from $128.00 to $136.00 and gave the company an "equal weight" rating in a research report 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 given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Reduce" and an average price target of $119.58.

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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