Northern Trust Corporation (NASDAQ:NTRS) Shares Bought by American Century Companies Inc.

Key Points

• American Century Companies Inc. increased its stake in Northern Trust Corporation (NASDAQ:NTRS) by 0.7%, owning approximately 3 million shares valued at $297 million as of the latest quarter.
• Several institutional investors, including Bank of New York Mellon and Royal Bank of Canada, significantly raised their positions in Northern Trust, with 83.19% of the stock now owned by institutional investors.
• Northern Trust recently declared a quarterly dividend increase from $0.75 to $0.80 per share, reflecting positive financial performance despite a 26.4% year-over-year revenue decline.

American Century Companies Inc. grew its position in Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 0.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,013,123 shares of the asset manager's stock after buying an additional 20,010 shares during the quarter. American Century Companies Inc. owned approximately 1.55% of Northern Trust worth $297,245,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in NTRS. Bank of New York Mellon Corp grew its position in Northern Trust by 47.8% during the first quarter. Bank of New York Mellon Corp now owns 1,810,816 shares of the asset manager's stock valued at $178,637,000 after purchasing an additional 585,992 shares in the last quarter. Royal Bank of Canada increased its position in Northern Trust by 60.2% during the fourth quarter. Royal Bank of Canada now owns 1,497,484 shares of the asset manager's stock worth $153,493,000 after acquiring an additional 562,976 shares during the period. Invesco Ltd. increased its holdings in Northern Trust by 19.3% in the 1st quarter. Invesco Ltd. now owns 3,443,599 shares of the asset manager's stock valued at $339,711,000 after buying an additional 558,287 shares during the period. Raiffeisen Bank International AG bought a new stake in Northern Trust in the 4th quarter valued at $46,197,000. Finally, GAMMA Investing LLC increased its holdings in Northern Trust by 10,340.5% in the 1st quarter. GAMMA Investing LLC now owns 445,602 shares of the asset manager's stock valued at $43,959,000 after buying an additional 441,334 shares during the period. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Wells Fargo & Company boosted their price target on shares of Northern Trust from $111.00 to $120.00 and gave the company an "equal weight" rating in a report on Thursday, July 24th. The Goldman Sachs Group upped their target price on shares of Northern Trust from $89.00 to $101.00 and gave the stock a "sell" rating in a report on Wednesday, July 2nd. Morgan Stanley upped their target price on shares of Northern Trust from $103.00 to $106.00 and gave the stock an "underweight" rating in a report on Tuesday, July 1st. Royal Bank Of Canada set a $123.00 target price on shares of Northern Trust and gave the stock an "outperform" rating in a report on Monday, June 30th. Finally, Truist Financial upped their target price on shares of Northern Trust from $128.00 to $132.00 and gave the stock a "hold" rating in a report on Thursday. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $117.08.

Northern Trust Price Performance

NASDAQ:NTRS opened at $128.49 on Friday. Northern Trust Corporation has a one year low of $81.62 and a one year high of $133.00. The company has a market cap of $24.57 billion, a P/E ratio of 15.10, a P/E/G ratio of 1.67 and a beta of 1.28. The firm's fifty day moving average price is $123.05 and its two-hundred day moving average price is $109.16. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.72 and a quick ratio of 0.72.

Northern Trust (NASDAQ:NTRS - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The asset manager reported $2.13 EPS for the quarter, beating the consensus estimate of $2.08 by $0.05. Northern Trust had a net margin of 11.75% and a return on equity of 14.06%. The firm had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.96 billion. During the same period in the previous year, the company earned $4.34 earnings per share. The company's quarterly revenue was down 26.4% on a year-over-year basis. Equities analysts expect that Northern Trust Corporation will post 8.27 earnings per share for the current year.

Northern Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 5th will be given a dividend of $0.80 per share. 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 yield of 2.5%. The ex-dividend date of this dividend is Friday, September 5th. Northern Trust's payout ratio is 35.25%.

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.

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