Caisse DE Depot ET Placement DU Quebec Buys 74,800 Shares of Northern Trust Corporation $NTRS

Key Points

• Caisse DE Depot ET Placement DU Quebec increased its stake in Northern Trust Corporation by 57.1% in Q1, acquiring an additional 74,800 shares and now holding approximately $20.3 million in shares.
• Northern Trust recently announced a quarterly dividend increase from $0.75 to $0.80 per share, with a dividend yield of 2.4% slated for October 1st payment.
• Analyst ratings for Northern Trust are mixed, with two buy ratings, eight holds, and three sells, resulting in an average target price of $117.08.

Caisse DE Depot ET Placement DU Quebec raised its position in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 57.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 205,828 shares of the asset manager's stock after buying an additional 74,800 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned about 0.11% of Northern Trust worth $20,305,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in NTRS. Colonial Trust Co SC boosted its holdings in shares of Northern Trust by 6,400.0% in the 4th quarter. Colonial Trust Co SC now owns 260 shares of the asset manager's stock worth $27,000 after purchasing an additional 256 shares during the period. Continuum Advisory LLC boosted its holdings in shares of 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 purchasing an additional 267 shares during the period. Zions Bancorporation National Association UT purchased a new position in shares of Northern Trust in the 1st quarter worth approximately $29,000. Wayfinding Financial LLC purchased a new position in shares of Northern Trust in the 1st quarter worth approximately $35,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in shares of Northern Trust in the 1st quarter worth approximately $43,000. Hedge funds and other institutional investors own 83.19% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. The Goldman Sachs Group lifted their target price on Northern Trust from $89.00 to $101.00 and gave the stock a "sell" rating in a report on Wednesday, July 2nd. 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. 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. Wall Street Zen lowered Northern Trust from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Finally, Truist Financial raised their price target on Northern Trust from $128.00 to $132.00 and gave the stock a "hold" rating in a research note on Thursday, August 14th. Two research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Reduce" and an average target price of $117.08.

Northern Trust Stock Up 0.2%

Shares of NTRS stock traded up $0.29 during mid-day trading on Monday, hitting $131.28. The stock had a trading volume of 852,982 shares, compared to its average volume of 998,324. Northern Trust Corporation has a 12-month low of $81.62 and a 12-month high of $133.00. The firm has a market capitalization of $25.11 billion, a P/E ratio of 15.43, a price-to-earnings-growth ratio of 1.56 and a beta of 1.30. The firm's 50-day moving average is $127.37 and its two-hundred day moving average is $110.45. 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 issued its earnings results on Wednesday, July 23rd. The asset manager reported $2.13 earnings per share for the quarter, topping 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 business had revenue of $2 billion during the quarter, compared to analysts' expectations of $1.96 billion. During the same period in the prior year, the business earned $4.34 EPS. The business's revenue for the quarter was down 26.4% compared to the same quarter last year. On average, analysts predict that Northern Trust Corporation will post 8.27 earnings per share for the current fiscal year.

Northern Trust Increases Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 2.4%. This is a positive change from Northern Trust's previous quarterly dividend of $0.75. Northern Trust's dividend payout ratio (DPR) is currently 37.60%.

Insider Activity at Northern Trust

In related news, Director Robert Edward Jr. Moritz purchased 256 shares of Northern Trust stock in a transaction dated Wednesday, August 13th. The stock was purchased at an average cost of $126.34 per share, with a total value of $32,343.04. Following the transaction, the director owned 2,525 shares in the company, valued at approximately $319,008.50. The trade was a 11.28% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.77% of the company's stock.

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.