BNP Paribas Financial Markets Has $39.04 Million Position in Northern Trust Corporation $NTRS

Key Points

• BNP Paribas Financial Markets increased its stake in Northern Trust Corporation by 63.4%, acquiring an additional 153,511 shares during the first quarter, bringing their total to approximately 395,787 shares worth $39 million.
• Northern Trust recently increased its quarterly dividend from $0.75 to $0.80 per share, translating to an annualized yield of 2.4% for shareholders.
• Despite a year-over-year revenue decline of 26.4%, Northern Trust reported an EPS of $2.13, beating analyst estimates of $2.08 in its recent earnings release.

BNP Paribas Financial Markets raised its holdings in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 63.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 395,787 shares of the asset manager's stock after buying an additional 153,511 shares during the period. BNP Paribas Financial Markets owned about 0.20% of Northern Trust worth $39,044,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NTRS. Integrated Wealth Concepts LLC acquired a new position in Northern Trust during the fourth quarter valued at approximately $230,000. Schonfeld Strategic Advisors LLC raised its stake in shares of Northern Trust by 556.1% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 32,208 shares of the asset manager's stock valued at $3,301,000 after purchasing an additional 27,299 shares during the period. Comerica Bank raised its stake in shares of Northern Trust by 12.0% during the fourth quarter. Comerica Bank now owns 40,848 shares of the asset manager's stock valued at $4,187,000 after purchasing an additional 4,375 shares during the period. Freestone Grove Partners LP purchased a new stake in shares of Northern Trust during the fourth quarter valued at approximately $437,000. Finally, Caisse DE Depot ET Placement DU Quebec purchased a new stake in shares of Northern Trust during the fourth quarter valued at approximately $13,430,000. 83.19% of the stock is owned by institutional investors and hedge funds.

Northern Trust Stock Performance

Shares of NTRS traded down $0.21 during midday trading on Thursday, hitting $129.49. 1,157,251 shares of the stock traded hands, compared to its average volume of 1,549,989. The firm has a market capitalization of $24.76 billion, a PE ratio of 15.22, a price-to-earnings-growth ratio of 1.56 and a beta of 1.30. The business's 50 day moving average price is $127.92 and its two-hundred day moving average price is $110.85. Northern Trust Corporation has a 1-year low of $81.62 and a 1-year high of $133.00. 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 issued its quarterly earnings results on Wednesday, July 23rd. The asset manager reported $2.13 EPS for the quarter, topping the consensus estimate of $2.08 by $0.05. The firm had revenue of $2 billion for the quarter, compared to analysts' expectations of $1.96 billion. Northern Trust had a net margin of 11.75% and a return on equity of 14.06%. Northern Trust's revenue for the quarter was down 26.4% compared to the same quarter last year. During the same period in the previous year, the business earned $4.34 earnings per share. Equities research analysts predict that Northern Trust Corporation will post 8.27 EPS for the current fiscal year.

Northern Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 5th will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Friday, September 5th. This is a positive change from Northern Trust's previous quarterly dividend of $0.75. Northern Trust's dividend payout ratio (DPR) is presently 37.60%.

Analysts Set New Price Targets

NTRS has been the topic of a number of analyst reports. Wolfe Research upgraded shares of Northern Trust from an "underperform" rating to a "peer perform" rating in a research note on Thursday, July 24th. Truist Financial lifted their price objective on shares of Northern Trust from $128.00 to $132.00 and gave the company a "hold" rating in a research note on Thursday, August 14th. Royal Bank Of Canada set a $123.00 price objective on shares of Northern Trust and gave the company an "outperform" rating in a research note on Monday, June 30th. The Goldman Sachs Group lifted their price objective on shares of Northern Trust from $89.00 to $101.00 and gave the company a "sell" rating in a research note on Wednesday, July 2nd. Finally, Morgan Stanley lifted their price target on shares of Northern Trust from $103.00 to $106.00 and gave the stock an "underweight" rating in a research note on Tuesday, July 1st. Two equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, Northern Trust has an average rating of "Reduce" and a consensus price target of $117.08.

Insider Activity at Northern Trust

In related news, Director Robert Edward Jr. Moritz bought 256 shares of the firm's stock in a transaction on Wednesday, August 13th. The stock was purchased at an average price of $126.34 per share, with a total value of $32,343.04. Following the completion of the transaction, the director directly owned 2,525 shares of the company's stock, valued at $319,008.50. This trade represents a 11.28% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.77% of the company's stock.

Northern Trust Company 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.