Northern Trust Corporation (NASDAQ:NTRS) Shares Bought by Natixis Advisors LLC

Key Points

• Natixis Advisors LLC increased its stake in Northern Trust Corporation to 97,132 shares, valued at $9.58 million, reflecting an 8.1% boost in their holdings during the first quarter.
• Several hedge funds made significant changes to their positions in Northern Trust, with Colonial Trust Co SC increasing its holdings by 6,400% and several others acquiring new stakes during the recent quarters.
• Northern Trust announced a quarterly dividend increase from $0.75 to $0.80, marking a positive change with an annualized yield of 2.5%.

Natixis Advisors LLC increased its stake in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 8.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 97,132 shares of the asset manager's stock after purchasing an additional 7,305 shares during the period. Natixis Advisors LLC's holdings in Northern Trust were worth $9,582,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Mesirow Financial Investment Management Inc. grew its stake in shares of Northern Trust by 14.2% during the 1st quarter. Mesirow Financial Investment Management Inc. now owns 40,767 shares of the asset manager's stock valued at $4,022,000 after buying an additional 5,083 shares during the period. Vestcor Inc boosted its position in Northern Trust by 30.3% during the 1st quarter. Vestcor Inc now owns 4,186 shares of the asset manager's stock worth $413,000 after purchasing an additional 973 shares during the period. Federated Hermes Inc. boosted its position in Northern Trust by 9.4% during the 1st quarter. Federated Hermes Inc. now owns 479,746 shares of the asset manager's stock worth $47,327,000 after purchasing an additional 41,162 shares during the period. Mackenzie Financial Corp boosted its position in Northern Trust by 2.6% in the 1st quarter. Mackenzie Financial Corp now owns 31,774 shares of the asset manager's stock valued at $3,135,000 after buying an additional 792 shares during the last quarter. Finally, First National Advisers LLC acquired a new stake in shares of Northern Trust in the 1st quarter valued at about $280,000. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on NTRS. Wall Street Zen upgraded shares of Northern Trust from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Keefe, Bruyette & Woods restated an "underperform" rating and issued a $118.00 price target (down previously from $120.00) on shares of Northern Trust in a research note on Thursday, July 24th. Royal Bank Of Canada set a $123.00 price objective on shares of Northern Trust and gave the company an "outperform" rating in a report on Monday, June 30th. Truist Financial raised their target price on shares of Northern Trust from $116.00 to $126.00 and gave the stock a "hold" rating in a report on Thursday, July 3rd. Finally, Evercore ISI upped their price target on shares of Northern Trust from $108.00 to $121.00 and gave the company an "in-line" rating in a research report on Wednesday, July 2nd. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $116.58.

Northern Trust Stock Up 1.1%

Northern Trust stock traded up $1.39 on Friday, hitting $126.12. 611,781 shares of the stock traded hands, compared to its average volume of 1,618,565. The firm has a market cap of $24.12 billion, a P/E ratio of 14.83, a price-to-earnings-growth ratio of 1.67 and a beta of 1.28. The business's fifty day simple moving average is $121.04 and its 200 day simple moving average is $108.57. Northern Trust Corporation has a 1 year low of $81.62 and a 1 year 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 announced its quarterly earnings data on Wednesday, July 23rd. The asset manager reported $2.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.08 by $0.05. The business had revenue of $2 billion during the quarter, compared to analyst estimates of $1.96 billion. Northern Trust had a net margin of 11.75% and a return on equity of 14.06%. The company's revenue was down 26.4% on a year-over-year basis. During the same period last year, the firm posted $4.34 EPS. As a group, sell-side analysts forecast that Northern Trust Corporation will post 8.27 earnings per share for the current year.

Northern Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 5th will be given a $0.80 dividend. This is an increase from Northern Trust's previous quarterly dividend of $0.75. This represents a $3.20 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Friday, September 5th. Northern Trust's payout ratio is currently 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.