38,394 Shares in Northern Trust Corporation $NTRS Bought by Mubadala Investment Co PJSC

Key Points

• Mubadala Investment Co PJSC has invested approximately $3.79 million in Northern Trust Corporation by purchasing 38,394 shares, making it the 21st largest position in their portfolio.
• Recent quarterly earnings for Northern Trust revealed an EPS of $2.13, exceeding analysts’ expectations, although revenue was down 26.4% compared to the previous year.
• Northern Trust has increased its quarterly dividend from $0.75 to $0.80 per share, set to be paid on October 1st, reflecting a 2.4% yield.

Mubadala Investment Co PJSC purchased a new position in Northern Trust Corporation (NASDAQ:NTRS - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 38,394 shares of the asset manager's stock, valued at approximately $3,788,000. Northern Trust makes up about 0.0% of Mubadala Investment Co PJSC's investment portfolio, making the stock its 21st largest holding.

A number of other large investors also recently added to or reduced their stakes in the business. Vident Advisory LLC lifted its holdings in Northern Trust by 65.8% in the 1st quarter. Vident Advisory LLC now owns 5,343 shares of the asset manager's stock worth $527,000 after purchasing an additional 2,120 shares in the last quarter. Evergreen Capital Management LLC raised its holdings in shares of Northern Trust by 14.1% during the 1st quarter. Evergreen Capital Management LLC now owns 5,818 shares of the asset manager's stock worth $578,000 after acquiring an additional 717 shares in the last quarter. Magnetar Financial LLC purchased a new stake in shares of Northern Trust during the 1st quarter worth approximately $402,000. Landscape Capital Management L.L.C. raised its holdings in shares of Northern Trust by 5.2% during the 1st quarter. Landscape Capital Management L.L.C. now owns 8,257 shares of the asset manager's stock worth $815,000 after acquiring an additional 406 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp raised its holdings in shares of Northern Trust by 147.8% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 55,862 shares of the asset manager's stock worth $5,511,000 after acquiring an additional 33,321 shares in the last quarter. 83.19% of the stock is owned by hedge funds and other institutional investors.

Northern Trust Trading Down 0.1%

Shares of NASDAQ:NTRS traded down $0.19 on Thursday, hitting $129.52. 349,087 shares of the company's stock were exchanged, compared to its average volume of 1,545,086. Northern Trust Corporation has a 12 month low of $81.62 and a 12 month high of $133.00. 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 business's 50 day simple moving average is $127.92 and its two-hundred day simple moving average is $110.85. The stock has a market capitalization of $24.77 billion, a price-to-earnings ratio of 15.21, a price-to-earnings-growth ratio of 1.56 and a beta of 1.30.

Northern Trust (NASDAQ:NTRS - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The asset manager reported $2.13 earnings per share (EPS) for the quarter, topping 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 business had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter in the prior year, the company earned $4.34 EPS. The business's revenue was down 26.4% compared to the same quarter last year. Analysts anticipate that Northern Trust Corporation will post 8.27 EPS for the current fiscal year.

Northern Trust Increases Dividend

The company also recently declared 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 represents a $3.20 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Friday, September 5th. This is a positive change from Northern Trust's previous quarterly dividend of $0.75. Northern Trust's dividend payout ratio is currently 37.60%.

Analyst Upgrades and Downgrades

NTRS has been the topic of several recent research reports. The Goldman Sachs Group upped their price objective on Northern Trust from $89.00 to $101.00 and gave the stock a "sell" rating in a report on Wednesday, July 2nd. Wells Fargo & Company upped their price objective on Northern Trust from $111.00 to $120.00 and gave the stock an "equal weight" rating in a report on Thursday, July 24th. Barclays upped their price objective on Northern Trust from $128.00 to $136.00 and gave the stock an "equal weight" rating in a report on Thursday, July 24th. Wolfe Research raised Northern Trust from an "underperform" rating to a "peer perform" rating in a report on Thursday, July 24th. Finally, Wall Street Zen cut Northern Trust from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. Two research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, Northern Trust has an average rating of "Reduce" and an average price target of $117.08.

Insider Activity

In other news, Director Robert Edward Jr. Moritz purchased 256 shares of the company's stock in a transaction dated Wednesday, August 13th. The shares were acquired at an average price of $126.34 per share, with a total value of $32,343.04. Following the transaction, the director owned 2,525 shares of the company's stock, valued at $319,008.50. This represents a 11.28% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.77% of the company's stock.

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.