Groupe la Francaise Boosts Stake in Northern Trust Corporation $NTRS

Key Points

• Groupe la Francaise increased its holdings in Northern Trust Corporation by 16.3%, now owning 41,593 shares worth approximately $4.18 million.
• Several hedge funds, including Ellevest Inc. and iA Global Asset Management Inc., have also raised their positions in Northern Trust, with institutional investors owning 83.19% of the stock.
• Northern Trust recently declared a quarterly dividend increase to $0.80 per share, reflecting a yield of 2.5% and a favorable dividend payout ratio of 35.25%.

Groupe la Francaise increased its holdings in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 16.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,593 shares of the asset manager's stock after purchasing an additional 5,816 shares during the period. Groupe la Francaise's holdings in Northern Trust were worth $4,182,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of NTRS. Colonial Trust Co SC lifted its stake in Northern Trust by 6,400.0% in the 4th quarter. Colonial Trust Co SC now owns 260 shares of the asset manager's stock valued at $27,000 after acquiring an additional 256 shares in the last quarter. Continuum Advisory LLC boosted 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 valued at $27,000 after purchasing an additional 267 shares during the period. Zions Bancorporation National Association UT bought a new stake in shares of Northern Trust during the 1st quarter valued at $29,000. Wayfinding Financial LLC bought a new stake in shares of Northern Trust during the 1st quarter valued at $35,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of Northern Trust during the 1st quarter worth $43,000. Institutional investors own 83.19% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Morgan Stanley raised their price objective on Northern Trust from $103.00 to $106.00 and gave the stock an "underweight" rating in a research report on Tuesday, July 1st. Truist Financial lifted their target price on Northern Trust from $128.00 to $132.00 and gave the company a "hold" rating in a research report on Thursday, August 14th. Wells Fargo & Company lifted their price target on Northern Trust from $111.00 to $120.00 and gave the stock an "equal weight" rating in a report on Thursday, July 24th. Keefe, Bruyette & Woods restated an "underperform" rating and issued a $118.00 target price (down from $120.00) on shares of Northern Trust in a research note on Thursday, July 24th. Finally, The Goldman Sachs Group boosted their price objective on Northern Trust from $89.00 to $101.00 and gave the company a "sell" rating in a research note on Wednesday, July 2nd. Two 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 an average rating of "Reduce" and a consensus price target of $117.08.

Insider Activity at Northern Trust

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

Northern Trust Trading Down 0.4%

NTRS stock traded down $0.58 during trading on Thursday, hitting $130.99. 984,213 shares of the company traded hands, compared to its average volume of 1,560,784. The firm has a market capitalization of $25.05 billion, a PE ratio of 15.39, a P/E/G ratio of 1.57 and a beta of 1.28. Northern Trust Corporation has a 1 year low of $81.62 and a 1 year high of $133.00. The company has a 50-day moving average of $126.58 and a 200-day moving average of $110.17. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.72 and a current 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 (EPS) 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 firm had revenue of $2 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same quarter in the prior year, the company earned $4.34 EPS. The business's revenue was down 26.4% compared to the same quarter last year. Analysts predict 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. Investors of record on Friday, September 5th will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 2.4%. This is a boost from Northern Trust's previous quarterly dividend of $0.75. The ex-dividend date is Friday, September 5th. Northern Trust's dividend payout ratio (DPR) is presently 35.25%.

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.