Northern Trust Corporation $NTRS Shares Sold by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors LP reduced its holdings in Northern Trust Corporation by 1.7%, now owning approximately 2.16 million shares valued at $213.42 million as of its latest SEC filing.
• Northern Trust announced a quarterly dividend increase to $0.80 per share, up from $0.75, which reflects a yield of 2.5%.
• The company reported quarterly earnings of $2.13 per share, exceeding analysts' expectations of $2.08, but showing a 26.4% decline in year-over-year revenue.

Dimensional Fund Advisors LP trimmed its holdings in Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 1.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,163,748 shares of the asset manager's stock after selling 37,561 shares during the quarter. Dimensional Fund Advisors LP owned about 1.11% of Northern Trust worth $213,421,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Colonial Trust Co SC lifted its holdings in shares of Northern Trust by 6,400.0% during the fourth 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 increased its position in shares of Northern Trust by 5,340.0% in the first quarter. Continuum Advisory LLC now owns 272 shares of the asset manager's stock valued at $27,000 after buying an additional 267 shares in the last quarter. Zions Bancorporation National Association UT purchased a new position in shares of Northern Trust in the first quarter valued at $29,000. Wayfinding Financial LLC purchased a new stake in Northern Trust during the 1st quarter worth about $35,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in Northern Trust during the 1st quarter worth about $43,000. 83.19% of the stock is owned by institutional investors and hedge funds.

Northern Trust Trading Up 0.8%

Shares of NTRS opened at $127.05 on Tuesday. Northern Trust Corporation has a 1 year low of $81.62 and a 1 year high of $133.00. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.58. The stock has a 50 day simple moving average of $123.78 and a 200-day simple moving average of $109.31. The stock has a market cap of $24.30 billion, a PE ratio of 14.93, a PEG ratio of 1.67 and a beta of 1.28.

Northern Trust (NASDAQ:NTRS - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The asset manager reported $2.13 earnings per share for the quarter, beating analysts' consensus estimates of $2.08 by $0.05. The firm had revenue of $2 billion during the quarter, compared to analysts' expectations of $1.96 billion. Northern Trust had a return on equity of 14.06% and a net margin of 11.75%. The business's revenue was down 26.4% on a year-over-year basis. During the same period last year, the firm posted $4.34 EPS. On average, sell-side analysts predict that Northern Trust Corporation will post 8.27 EPS for the current fiscal year.

Northern Trust Increases Dividend

The firm 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 dividend of $0.80 per share. This is a boost from Northern Trust's previous quarterly dividend of $0.75. This represents a $3.20 annualized dividend and a yield of 2.5%. The ex-dividend date is Friday, September 5th. Northern Trust's dividend payout ratio is presently 35.25%.

Wall Street Analysts Forecast Growth

NTRS has been the topic of a number of research analyst reports. The Goldman Sachs Group raised their price target on Northern Trust from $89.00 to $101.00 and gave the stock a "sell" rating in a research note on Wednesday, July 2nd. Barclays lifted their price objective on Northern Trust from $128.00 to $136.00 and gave the company an "equal weight" rating in a research note on Thursday, July 24th. Evercore ISI raised their target price on Northern Trust from $108.00 to $121.00 and gave the company an "in-line" rating in a report on Wednesday, July 2nd. Morgan Stanley raised their target price on Northern Trust from $103.00 to $106.00 and gave the company an "underweight" rating in a report on Tuesday, July 1st. Finally, Keefe, Bruyette & Woods restated an "underperform" rating and set a $118.00 price objective (down from $120.00) on shares of Northern Trust in a report on Thursday, July 24th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $117.08.

Insiders Place Their Bets

In other Northern Trust news, Director Robert Edward Jr. Moritz bought 256 shares of Northern Trust stock in a transaction on Wednesday, August 13th. The shares were purchased at an average cost of $126.34 per share, for a total transaction of $32,343.04. Following the completion of the acquisition, 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 acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Corporate 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.

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