Northern Trust Corporation $NTRS Shares Newly Purchased by HWG Holdings LP

Key Points

• HWG Holdings LP purchased 26,392 Northern Trust shares in the third quarter, valued at approximately $4.47 million and representing about 1% of its portfolio. Institutional investors collectively own 83.19% of the company.
• Northern Trust reported quarterly earnings of $4.23 per share, exceeding analysts’ $2.71 estimate, while revenue rose 35.1% year over year to $2.71 billion.
• The company increased its quarterly dividend from $0.80 to $0.88 per share, equivalent to an annualized $3.52 dividend and a 2.1% yield. Analysts maintain a consensus “Hold” rating with an average price target of $183.93.

HWG Holdings LP purchased a new stake in Northern Trust Corporation (NASDAQ:NTRS - Free Report) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 26,392 shares of the asset manager's stock, valued at approximately $4,470,000. Northern Trust comprises approximately 1.0% of HWG Holdings LP's portfolio, making the stock its 25th biggest position.

Several other large investors also recently made changes to their positions in the business. BlackRock Inc. acquired a new stake in Northern Trust during the second quarter valued at approximately $2,523,781,000. Primecap Management Co. CA bought a new position in shares of Northern Trust in the second quarter valued at $1,060,553,000. Dimensional Fund Advisors LP lifted its position in shares of Northern Trust by 1.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,455,996 shares of the asset manager's stock valued at $342,744,000 after acquiring an additional 36,322 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Northern Trust during the 2nd quarter worth $361,079,000. Finally, Legal & General Group Plc acquired a new position in shares of Northern Trust in the 2nd quarter worth $207,054,000. Institutional investors own 83.19% of the company's stock.

Northern Trust Stock Down 0.8%

Shares of Northern Trust stock opened at $168.18 on Thursday. Northern Trust Corporation has a 1 year low of $121.12 and a 1 year high of $195.78. The company has a market cap of $30.77 billion, a P/E ratio of 14.44, a P/E/G ratio of 0.96 and a beta of 1.24. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.43. The stock has a 50-day moving average price of $181.87 and a 200 day moving average price of $171.71.

Northern Trust (NASDAQ:NTRS - Get Free Report) last issued its earnings results on Wednesday, July 22nd. The asset manager reported $4.23 earnings per share for the quarter, beating analysts' consensus estimates of $2.71 by $1.52. The company had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.69 billion. Northern Trust had a return on equity of 16.91% and a net margin of 14.76%.The firm's quarterly revenue was up 35.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.13 EPS. As a group, analysts expect that Northern Trust Corporation will post 11.64 EPS for the current fiscal year.

Northern Trust Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Friday, September 4th were paid a dividend of $0.88 per share. This is an increase from Northern Trust's previous quarterly dividend of $0.80. The ex-dividend date of this dividend was Friday, September 4th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.1%. Northern Trust's dividend payout ratio (DPR) is 30.21%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on NTRS. Bank of America upped their target price on Northern Trust from $190.00 to $200.00 and gave the company a "buy" rating in a report on Tuesday, July 7th. Keefe, Bruyette & Woods boosted their price objective on Northern Trust from $157.00 to $175.00 and gave the stock an "underperform" rating in a report on Thursday, July 9th. Capital One Financial set a $190.00 price objective on shares of Northern Trust in a research note on Tuesday. Royal Bank Of Canada cut shares of Northern Trust from an "outperform" rating to a "sector perform" rating and set a $178.00 target price for the company. in a report on Wednesday, July 22nd. Finally, Morgan Stanley boosted their price target on shares of Northern Trust from $170.00 to $173.00 and gave the company an "underweight" rating in a report on Thursday, July 23rd. Four equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Northern Trust currently has an average rating of "Hold" and a consensus target price of $183.93.

Insider Buying and Selling at Northern Trust

In other news, Director Robert Moritz, Jr. acquired 255 shares of the business's stock in a transaction that occurred on Wednesday, July 29th. The stock was acquired at an average cost of $179.57 per share, for a total transaction of $45,790.35. Following the completion of the acquisition, the director owned 8,400 shares in the company, valued at approximately $1,508,388. The trade was a 3.13% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Thomas A. South sold 1,800 shares of the company's stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $184.90, for a total value of $332,820.00. Following the completion of the transaction, the executive vice president directly owned 92,917 shares in the company, valued at approximately $17,180,353.30. The trade was a 1.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.66% of the company's stock.

Northern Trust Profile

Northern Trust Corporation is a financial services company headquartered in Chicago, Illinois. Founded in 1889, the company provides wealth management, asset servicing, asset management and banking services to corporations, institutions, affluent individuals and families, and financial professionals.

Through its wealth management business, Northern Trust offers investment management, financial planning, trust and estate services, private banking, and family office solutions. Its asset servicing and banking operations support institutional investors and businesses with custody, fund administration, securities lending, foreign exchange, treasury services, capital markets, and related banking solutions.

Northern Trust serves clients through operations in the United States and international markets, including Canada, Europe, the Middle East and the Asia-Pacific region.

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