National Bank of Canada FI Purchases 55,046 Shares of Northern Trust Corporation (NASDAQ:NTRS)

Key Points

• National Bank of Canada FI increased its stake in Northern Trust Corporation by 59.3%, owning 147,872 shares worth approximately $14.59 million after purchasing an additional 55,046 shares this quarter.
• Analysts remain divided on Northern Trust, with three sell ratings, nine hold ratings, and two buy ratings, while the consensus price target is set at $116.58.
• Northern Trust announced a quarterly dividend increase to $0.80 per share, yielding approximately 2.6%, representing a positive shift from the previous dividend of $0.75.

National Bank of Canada FI grew its position in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 59.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 147,872 shares of the asset manager's stock after buying an additional 55,046 shares during the period. National Bank of Canada FI owned approximately 0.08% of Northern Trust worth $14,588,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Colonial Trust Co SC increased 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 worth $27,000 after buying an additional 256 shares during the period. Continuum Advisory LLC increased 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 worth $27,000 after buying an additional 267 shares during the period. Wayfinding Financial LLC bought a new position in Northern Trust during the 1st quarter worth $35,000. True Wealth Design LLC increased its position in Northern Trust by 84.0% during the 4th quarter. True Wealth Design LLC now owns 425 shares of the asset manager's stock worth $44,000 after buying an additional 194 shares during the period. Finally, Coppell Advisory Solutions LLC acquired a new stake in shares of Northern Trust during the 4th quarter worth $44,000. Institutional investors own 83.19% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on NTRS. Truist Financial boosted their price target on Northern Trust from $116.00 to $126.00 and gave the company a "hold" rating in a research note on Thursday, July 3rd. Royal Bank Of Canada set a $123.00 price target on Northern Trust and gave the company an "outperform" rating in a research note on Monday, June 30th. Wolfe Research raised Northern Trust from an "underperform" rating to a "peer perform" rating in a research note on Thursday, July 24th. The Goldman Sachs Group boosted their price target on Northern Trust from $89.00 to $101.00 and gave the company a "sell" rating in a research note on Wednesday, July 2nd. Finally, Morgan Stanley boosted their price target on Northern Trust from $103.00 to $106.00 and gave the company an "underweight" rating in a research note on Tuesday, July 1st. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Northern Trust presently has a consensus rating of "Hold" and a consensus price target of $116.58.

Northern Trust Stock Performance

NASDAQ:NTRS opened at $125.24 on Tuesday. The stock's 50-day simple moving average is $121.80 and its 200 day simple moving average is $108.79. Northern Trust Corporation has a twelve month low of $81.62 and a twelve month high of $133.00. The firm has a market capitalization of $23.95 billion, a PE ratio of 14.72, a price-to-earnings-growth ratio of 1.67 and a beta of 1.28. 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 announced its quarterly 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 analyst estimates of $1.96 billion. During the same period last year, the firm posted $4.34 earnings per share. The business's revenue for the quarter was down 26.4% on a year-over-year basis. On average, 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 paid a dividend of $0.80 per share. 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. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.6%. Northern Trust's payout ratio is 35.25%.

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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