Northern Trust Corporation $NTRS Holdings Lifted by Confluence Investment Management LLC

Key Points

• Confluence Investment Management LLC increased its stake in Northern Trust Corporation by 6.6%, making it the fifth largest position in their investment portfolio, owning approximately $150.2 million worth of the stock.
• Northern Trust recently announced an increase in its quarterly dividend from $0.75 to $0.80, reflecting a $3.20 annualized yield at a payout ratio of 37.60%.
• Recent analyst reports show a mixed outlook for Northern Trust, with price targets ranging from $106 to $135 and an average rating of "Reduce" from analysts.

Confluence Investment Management LLC lifted its position in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 6.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,184,610 shares of the asset manager's stock after buying an additional 72,867 shares during the quarter. Northern Trust makes up 2.1% of Confluence Investment Management LLC's investment portfolio, making the stock its 5th largest position. Confluence Investment Management LLC owned about 0.61% of Northern Trust worth $150,197,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. Continuum Advisory LLC grew its stake in Northern Trust by 5,340.0% in 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 during the period. Zions Bancorporation National Association UT acquired a new stake in shares of Northern Trust during the first quarter worth $29,000. Wayfinding Financial LLC purchased a new stake in shares of Northern Trust in the first quarter valued at $35,000. Harbor Investment Advisory LLC grew its position in shares of Northern Trust by 68.4% in the second quarter. Harbor Investment Advisory LLC now owns 320 shares of the asset manager's stock valued at $41,000 after purchasing an additional 130 shares during the period. Finally, Caitong International Asset Management Co. Ltd acquired a new position in Northern Trust in the first quarter valued at $43,000. Hedge funds and other institutional investors own 83.19% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on NTRS. Truist Financial lifted their price target on Northern Trust from $128.00 to $132.00 and gave the company a "hold" rating in a report on Thursday, August 14th. Morgan Stanley upped their price target on shares of Northern Trust from $103.00 to $106.00 and gave the stock an "underweight" rating in a research report on Tuesday, July 1st. Wolfe Research raised shares of Northern Trust from an "underperform" rating to a "peer perform" rating in a research note on Thursday, July 24th. Citigroup boosted their price objective on shares of Northern Trust from $110.00 to $135.00 and gave the company a "neutral" rating in a research note on Friday, September 5th. Finally, Wall Street Zen lowered Northern Trust from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. Two research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Reduce" and a consensus price target of $119.58.

Insider Transactions at Northern Trust

In other news, Director Robert Edward Jr. Moritz acquired 256 shares of the company's stock in a transaction dated Wednesday, August 13th. The shares were bought at an average price of $126.34 per share, for a total transaction of $32,343.04. Following the completion of the purchase, the director directly owned 2,525 shares of the company's stock, valued at approximately $319,008.50. This trade represents a 11.28% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.77% of the stock is owned by company insiders.

Northern Trust Stock Performance

NASDAQ:NTRS opened at $129.42 on Friday. The firm's fifty day simple moving average is $127.95 and its 200 day simple moving average is $111.62. 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 twelve month low of $81.62 and a twelve month high of $133.00. The firm has a market capitalization of $24.75 billion, a price-to-earnings ratio of 15.21, a PEG ratio of 1.54 and a beta of 1.30.

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 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 analyst estimates of $1.96 billion. During the same period last year, the company posted $4.34 earnings per share. The firm's revenue was down 26.4% compared to the same quarter last year. As a group, equities research analysts expect that Northern Trust Corporation will post 8.27 earnings per share for the current fiscal year.

Northern Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 5th will be issued a $0.80 dividend. The ex-dividend date is Friday, September 5th. This represents a $3.20 dividend on an annualized basis and a yield of 2.5%. This is a boost from Northern Trust's previous quarterly dividend of $0.75. Northern Trust's dividend payout ratio (DPR) is currently 37.60%.

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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