Oak Thistle LLC Purchases 8,227 Shares of Northern Trust Corporation (NASDAQ:NTRS)

Oak Thistle LLC increased its position in Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 379.1% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,397 shares of the asset manager's stock after purchasing an additional 8,227 shares during the period. Oak Thistle LLC's holdings in Northern Trust were worth $1,026,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of NTRS. Bank of New York Mellon Corp grew its position in Northern Trust by 47.8% during 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 purchasing an additional 585,992 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Northern Trust by 4.9% in 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 acquiring an additional 363,472 shares during the period. Asset Management One Co. Ltd. lifted its position 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 worth $8,383,000 after purchasing an additional 6,570 shares in the last quarter. Allianz Asset Management GmbH lifted its position in shares of Northern Trust by 529.4% during the first quarter. Allianz Asset Management GmbH now owns 461,383 shares of the asset manager's stock worth $45,515,000 after purchasing an additional 388,081 shares in the last quarter. Finally, Kathmere Capital Management LLC lifted its holdings in Northern Trust by 96.7% in 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 during the period. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on NTRS shares. Truist Financial raised their target price on shares of Northern Trust from $116.00 to $126.00 and gave the company a "hold" rating in a research report on Thursday, July 3rd. Bank of America decreased their target price on shares of Northern Trust from $123.00 to $121.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. Barclays raised their target price on shares of Northern Trust from $128.00 to $136.00 and gave the company an "equal weight" rating in a research report on Thursday. Evercore ISI lifted their price objective on shares of Northern Trust from $108.00 to $121.00 and gave the company an "in-line" rating in a research report on Wednesday, July 2nd. Finally, 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 report on Wednesday, July 2nd. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $116.58.

Northern Trust Price Performance

Shares of NTRS traded up $1.27 during mid-day trading on Friday, reaching $130.03. 1,158,006 shares of the stock traded hands, compared to its average volume of 1,868,366. The company has a market cap of $25.30 billion, a price-to-earnings ratio of 15.28, a price-to-earnings-growth ratio of 1.91 and a beta of 1.26. Northern Trust Corporation has a 1 year low of $80.81 and a 1 year high of $133.00. The firm has a fifty day moving average price of $117.19 and a 200 day moving average price of $107.07. The company has a current ratio of 0.72, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58.

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, topping the consensus estimate of $2.08 by $0.05. Northern Trust had a net margin of 11.75% and a return on equity of 14.06%. The firm had revenue of $2 billion for the quarter, compared to analysts' expectations of $1.96 billion. During the same quarter in the prior year, the firm posted $4.34 earnings per share. The business's quarterly revenue was down 26.4% on a year-over-year basis. As a group, equities research analysts predict that Northern Trust Corporation will post 8.27 earnings per share for the current year.

Northern Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 5th will be issued a $0.80 dividend. 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. This represents a $3.20 annualized dividend and a yield of 2.46%. Northern Trust's dividend payout ratio (DPR) is 35.25%.

Insider Activity

In related news, insider Teresa Parker sold 6,467 shares of the business's stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $100.62, for a total value of $650,709.54. Following the completion of the transaction, the insider directly owned 79,391 shares in the company, valued at $7,988,322.42. The trade was a 7.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Clive Bellows sold 3,300 shares of the business's stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $99.95, for a total transaction of $329,835.00. Following the sale, the executive vice president directly owned 28,736 shares of the company's stock, valued at approximately $2,872,163.20. The trade was a 10.30% decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,772 shares of company stock valued at $981,069 over the last 90 days. 0.77% of the stock is currently owned by company insiders.

Northern Trust 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.