Northern Trust Corp Purchases 4,082 Shares of Northern Trust Corporation $NTRS

Key Points

• Northern Trust Corp increased its holdings in Northern Trust Corporation by 0.1%, obtaining an additional 4,082 shares, bringing its total ownership to 5,854,877 shares valued at approximately $577 million.
• Several institutional investors have made significant changes to their positions in Northern Trust, with First Trust Advisors LP boosting its stake by 60.2% in the last quarter.
• Northern Trust recently raised its quarterly dividend from $0.75 to $0.80, representing an annualized dividend yield of 2.5% with a payout ratio of 35.25%.

Northern Trust Corp lifted its position in Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 0.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,854,877 shares of the asset manager's stock after acquiring an additional 4,082 shares during the period. Northern Trust Corp owned 3.01% of Northern Trust worth $577,584,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in NTRS. Raymond James Financial Inc. bought a new position in shares of Northern Trust in the 4th quarter worth approximately $7,456,000. Townsquare Capital LLC bought a new position in shares of Northern Trust in the 4th quarter worth approximately $213,000. Freedom Investment Management Inc. bought a new position in shares of Northern Trust in the 4th quarter worth approximately $276,000. First Trust Advisors LP raised its position in shares of Northern Trust by 60.2% in the 4th quarter. First Trust Advisors LP now owns 472,701 shares of the asset manager's stock worth $48,452,000 after acquiring an additional 177,642 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Northern Trust by 2.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,201,309 shares of the asset manager's stock worth $225,641,000 after acquiring an additional 62,605 shares in the last quarter. Institutional investors own 83.19% of the company's stock.

Wall Street Analysts Forecast Growth

NTRS has been the subject of a number of analyst reports. Keefe, Bruyette & Woods reaffirmed an "underperform" rating and set a $118.00 price objective (down previously from $120.00) on shares of Northern Trust in a research report on Thursday, July 24th. Barclays raised their price objective 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. Morgan Stanley raised their price objective on Northern Trust from $103.00 to $106.00 and gave the company an "underweight" rating in a research report on Tuesday, July 1st. The Goldman Sachs Group raised their price objective on Northern Trust from $89.00 to $101.00 and gave the company a "sell" rating in a research report on Wednesday, July 2nd. Finally, Royal Bank Of Canada set a $123.00 price objective on Northern Trust and gave the company an "outperform" rating in a research report on Monday, June 30th. 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 company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price 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 purchased at an average cost of $126.34 per share, for a total transaction of $32,343.04. Following the purchase, the director directly owned 2,525 shares in the company, valued at approximately $319,008.50. This represents a 11.28% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.77% of the stock is currently owned by company insiders.

Northern Trust Stock Performance

Shares of NTRS opened at $127.05 on Tuesday. The business's fifty day simple moving average is $123.78 and its two-hundred day simple moving average is $109.31. 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 Corporation has a 12 month low of $81.62 and a 12 month high of $133.00. The company has a market cap of $24.30 billion, a price-to-earnings ratio of 14.93, a P/E/G ratio of 1.67 and a beta of 1.28.

Northern Trust (NASDAQ:NTRS - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The asset manager reported $2.13 EPS for the quarter, beating the consensus estimate of $2.08 by $0.05. The business had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.96 billion. Northern Trust had a return on equity of 14.06% and a net margin of 11.75%. The company's revenue was down 26.4% compared to the same quarter last year. During the same period last year, the business posted $4.34 EPS. Research analysts anticipate that Northern Trust Corporation will post 8.27 earnings per share 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 $0.80 dividend. This is an increase 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 dividend payout ratio (DPR) is 35.25%.

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.

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