Northern Trust Corporation (NASDAQ:NTRS) Shares Sold by Mizuho Securities USA LLC

Key Points

• Mizuho Securities USA LLC reduced its stake in Northern Trust by 16.5% during the first quarter, selling 3,096 shares and now holding 15,691 shares worth approximately $1.55 million.
• Northern Trust announced a quarterly dividend increase to $0.80 per share, up from $0.75, representing an annualized dividend of $3.20 and a yield of 2.6%.
$2.13, exceeding expectations, despite a 26.4% decline in revenue compared to the prior year.

Mizuho Securities USA LLC lessened its stake in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 16.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,691 shares of the asset manager's stock after selling 3,096 shares during the quarter. Mizuho Securities USA LLC's holdings in Northern Trust were worth $1,548,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of NTRS. Colonial Trust Co SC boosted its position in Northern Trust by 6,400.0% during the 4th quarter. Colonial Trust Co SC now owns 260 shares of the asset manager's stock valued at $27,000 after acquiring an additional 256 shares in the last quarter. Continuum Advisory LLC boosted its position in Northern Trust by 5,340.0% during the 1st quarter. Continuum Advisory LLC now owns 272 shares of the asset manager's stock valued at $27,000 after acquiring an additional 267 shares in the last quarter. Zions Bancorporation National Association UT bought a new stake in Northern Trust during the 1st quarter valued at $29,000. Wayfinding Financial LLC bought a new stake in Northern Trust during the 1st quarter valued at $35,000. Finally, Coppell Advisory Solutions LLC bought a new stake in Northern Trust during the 4th quarter valued at $44,000. Institutional investors own 83.19% of the company's stock.

Northern Trust Stock Performance

Shares of NASDAQ NTRS traded down $2.47 during trading on Friday, reaching $126.02. 787,506 shares of the company traded hands, compared to its average volume of 1,404,009. The firm's fifty day simple moving average is $123.41 and its 200 day simple moving average is $109.25. The stock has a market cap of $24.10 billion, a P/E ratio of 14.81, a PEG ratio of 1.70 and a beta of 1.28. Northern Trust Corporation has a 12-month low of $81.62 and a 12-month high of $133.00. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.58.

Northern Trust (NASDAQ:NTRS - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The asset manager reported $2.13 EPS for the quarter, beating analysts' consensus estimates of $2.08 by $0.05. Northern Trust had a return on equity of 14.06% and a net margin of 11.75%. The firm had revenue of $2 billion for the quarter, compared to analysts' expectations of $1.96 billion. During the same period last year, the firm earned $4.34 EPS. The company's quarterly revenue was down 26.4% on a year-over-year basis. As a group, research 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 announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 5th will be given a dividend of $0.80 per share. This is a boost from Northern Trust's previous quarterly dividend of $0.75. The ex-dividend date is Friday, September 5th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.5%. Northern Trust's payout ratio is 35.25%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NTRS. Truist Financial increased their target price on Northern Trust from $128.00 to $132.00 and gave the company a "hold" rating in a research report on Thursday. Evercore ISI lifted their price target on Northern Trust from $108.00 to $121.00 and gave the stock an "in-line" rating in a research report on Wednesday, July 2nd. Keefe, Bruyette & Woods reaffirmed an "underperform" rating and set a $118.00 price target (down previously from $120.00) on shares of Northern Trust in a research report on Thursday, July 24th. 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 report on Thursday, July 24th. Finally, Wall Street Zen lowered Northern Trust from a "hold" rating to a "sell" rating in a research report on Saturday. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $117.08.

Northern Trust 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.