Allianz Asset Management GmbH lowered its holdings in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 44.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 257,080 shares of the asset manager's stock after selling 204,303 shares during the period. Allianz Asset Management GmbH owned approximately 0.13% of Northern Trust worth $32,595,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Bank of New York Mellon Corp raised its stake in shares of Northern Trust by 47.8% in the 1st quarter. Bank of New York Mellon Corp now owns 1,810,816 shares of the asset manager's stock worth $178,637,000 after buying an additional 585,992 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Northern Trust by 4.9% during the first quarter. Massachusetts Financial Services Co. MA now owns 7,850,088 shares of the asset manager's stock valued at $774,411,000 after buying an additional 363,472 shares in the last quarter. Asset Management One Co. Ltd. grew its holdings in shares of Northern Trust by 8.4% during the first quarter. Asset Management One Co. Ltd. now owns 84,974 shares of the asset manager's stock valued at $8,383,000 after buying an additional 6,570 shares in the last quarter. Kathmere Capital Management LLC grew its holdings in shares of Northern Trust by 96.7% during the first quarter. Kathmere Capital Management LLC now owns 5,239 shares of the asset manager's stock valued at $517,000 after buying an additional 2,575 shares in the last quarter. Finally, Edgestream Partners L.P. purchased a new position in shares of Northern Trust during the first quarter valued at $6,567,000. Institutional investors own 83.19% of the company's stock.
Northern Trust Stock Performance
Shares of NASDAQ NTRS opened at $124.82 on Friday. The business's 50-day moving average price is $129.58 and its two-hundred day moving average price is $116.71. 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 Corporation has a one year low of $81.62 and a one year high of $135.48. The company has a market capitalization of $23.87 billion, a P/E ratio of 14.67, a price-to-earnings-growth ratio of 1.39 and a beta of 1.31.
Northern Trust (NASDAQ:NTRS - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The asset manager reported $2.13 earnings per share for the quarter, topping analysts' consensus estimates of $2.08 by $0.05. The company 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 quarterly revenue was down 26.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.34 earnings per share. Analysts anticipate that Northern Trust Corporation will post 8.27 earnings per share for the current fiscal year.
Northern Trust Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Friday, September 5th were issued a dividend of $0.80 per share. The ex-dividend date of this dividend was Friday, September 5th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.6%. This is a positive change from Northern Trust's previous quarterly dividend of $0.75. Northern Trust's payout ratio is currently 37.60%.
Wall Street Analysts Forecast Growth
A number of research analysts have recently weighed in on NTRS shares. Wall Street Zen upgraded Northern Trust from a "sell" rating to a "hold" rating in a report on Friday, September 26th. Royal Bank Of Canada set a $123.00 price target on Northern Trust and gave the company an "outperform" rating in a report on Monday, June 30th. BMO Capital Markets started coverage on Northern Trust in a report on Friday, October 3rd. They set a "market perform" rating and a $142.00 price target on the stock. Truist Financial lifted their price target on Northern Trust from $132.00 to $142.00 and gave the company a "hold" rating in a report on Thursday, October 2nd. Finally, The Goldman Sachs Group set a $135.00 target price on Northern Trust in a research note on Tuesday, September 30th. Four analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Northern Trust presently has a consensus rating of "Hold" and an average target price of $128.23.
Get Our Latest Report on Northern Trust
Insider Activity at Northern Trust
In related 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 price of $126.34 per share, with a total value of $32,343.04. Following 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 purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.77% of the company's stock.
About Northern Trust
(
Free Report)
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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