Northern Trust Corporation $NTRS Shares Acquired by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC increased its stake in Northern Trust Corporation by 11.5%, obtaining a total of 455,239 shares worth approximately $44.7 million at the end of the first quarter.
• Northern Trust reported earnings per share of $2.13 for the latest quarter, surpassing estimates, although its revenue decreased 26.4% year-over-year.
• The company has increased its quarterly dividend from $0.75 to $0.80 per share, reflecting a positive change in shareholder returns.

Hsbc Holdings PLC lifted its holdings in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 11.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 455,239 shares of the asset manager's stock after acquiring an additional 46,877 shares during the period. Hsbc Holdings PLC owned 0.23% of Northern Trust worth $44,668,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Colonial Trust Co SC raised its position in shares of 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 acquiring an additional 256 shares in the last quarter. Continuum Advisory LLC raised its position in shares of 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 acquiring an additional 267 shares in the last quarter. Zions Bancorporation National Association UT acquired a new stake in shares of Northern Trust during the 1st quarter worth about $29,000. Wayfinding Financial LLC acquired a new stake in shares of Northern Trust during the 1st quarter worth about $35,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in Northern Trust during the 1st quarter worth approximately $43,000. Institutional investors and hedge funds own 83.19% of the company's stock.

Northern Trust Stock Performance

Shares of NTRS stock traded up $2.75 during midday trading on Friday, hitting $130.06. The company had a trading volume of 1,014,855 shares, compared to its average volume of 1,058,245. The company's 50 day simple moving average is $125.33 and its 200 day simple moving average is $109.78. Northern Trust Corporation has a 52-week low of $81.62 and a 52-week high of $133.00. The stock has a market cap of $24.87 billion, a price-to-earnings ratio of 15.28, a PEG ratio of 1.55 and a beta of 1.28. 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 announced its earnings results on Wednesday, July 23rd. The asset manager reported $2.13 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.05. Northern Trust had a return on equity of 14.06% and a net margin of 11.75%.The company had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.96 billion. During the same period last year, the business posted $4.34 EPS. The company's revenue was down 26.4% on a year-over-year basis. Research analysts anticipate that Northern Trust Corporation will post 8.27 earnings per share for the current fiscal year.

Northern Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders 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 annualized dividend and a dividend yield of 2.5%. Northern Trust's dividend payout ratio (DPR) is 35.25%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on NTRS shares. Royal Bank Of Canada set a $123.00 price target on Northern Trust and gave the stock an "outperform" rating in a research note on Monday, June 30th. Barclays raised their price target on Northern Trust from $128.00 to $136.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 24th. Wells Fargo & Company raised their price target on Northern Trust from $111.00 to $120.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 24th. Keefe, Bruyette & Woods restated an "underperform" rating and set a $118.00 price target (down previously from $120.00) on shares of Northern Trust in a research note on Thursday, July 24th. Finally, Wolfe Research upgraded Northern Trust from an "underperform" rating to a "peer perform" rating in a research note on Thursday, July 24th. Two investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Reduce" and an average price target of $117.08.

Insider Activity at Northern Trust

In other Northern Trust news, Director Robert Edward Jr. Moritz purchased 256 shares of Northern Trust stock in a transaction dated Wednesday, August 13th. The stock was acquired at an average cost of $126.34 per share, with a total value of $32,343.04. Following the acquisition, the director directly 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.77% of the stock is owned by corporate insiders.

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.