OMERS ADMINISTRATION Corp Raises Position in Northern Trust Corporation $NTRS

Key Points

• OMERS ADMINISTRATION Corp increased its stake in Northern Trust Corporation by 147.8%, owning 55,862 shares valued at approximately $5.5 million at the end of the first quarter.
• The company recently announced a quarterly dividend increase to $0.80 per share, benefiting shareholders with a 2.4% yield.
• Despite recent strong earnings, Northern Trust's stock has seen a 0.4% decline and maintains a market cap of $25.05 billion.

OMERS ADMINISTRATION Corp boosted its stake in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 147.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 55,862 shares of the asset manager's stock after acquiring an additional 33,321 shares during the period. OMERS ADMINISTRATION Corp's holdings in Northern Trust were worth $5,511,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Colonial Trust Co SC boosted its holdings in shares of Northern Trust by 6,400.0% in the 4th quarter. Colonial Trust Co SC now owns 260 shares of the asset manager's stock valued at $27,000 after purchasing an additional 256 shares in the last quarter. Continuum Advisory LLC lifted its holdings in Northern Trust by 5,340.0% during the 1st quarter. Continuum Advisory LLC now owns 272 shares of the asset manager's stock worth $27,000 after buying an additional 267 shares during the period. Zions Bancorporation National Association UT acquired a new position in Northern Trust during the 1st quarter worth about $29,000. Wayfinding Financial LLC bought a new position in shares of Northern Trust in the 1st quarter worth about $35,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of Northern Trust in the 1st quarter worth about $43,000. Institutional investors and hedge funds own 83.19% of the company's stock.

Analyst Upgrades and Downgrades

NTRS has been the subject of a number of research analyst reports. Wolfe Research raised Northern Trust from an "underperform" rating to a "peer perform" rating in a research report on Thursday, July 24th. Evercore ISI boosted their target price on Northern Trust from $108.00 to $121.00 and gave the stock an "in-line" rating in a research note on Wednesday, July 2nd. Truist Financial upped their price objective on Northern Trust from $128.00 to $132.00 and gave the company a "hold" rating in a research note on Thursday, August 14th. Wells Fargo & Company boosted their target price on shares of Northern Trust from $111.00 to $120.00 and gave the company an "equal weight" rating in a report on Thursday, July 24th. Finally, Royal Bank Of Canada set a $123.00 target price on shares of Northern Trust and gave the company an "outperform" rating in a report on Monday, June 30th. Two equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Reduce" and a consensus price target of $117.08.

Northern Trust Trading Down 0.3%

Shares of Northern Trust stock traded down $0.43 during trading on Wednesday, reaching $129.34. 159,238 shares of the stock were exchanged, compared to its average volume of 1,548,172. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.58. Northern Trust Corporation has a 1 year low of $81.62 and a 1 year high of $133.00. The stock's fifty day moving average is $127.81 and its 200 day moving average is $110.72. The firm has a market cap of $24.73 billion, a price-to-earnings ratio of 15.21, a price-to-earnings-growth ratio of 1.56 and a beta of 1.30.

Northern Trust (NASDAQ:NTRS - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The asset manager reported $2.13 EPS 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 business had revenue of $2 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same period last year, the business posted $4.34 earnings per share. Northern Trust's quarterly revenue was down 26.4% compared to the same quarter last year. As a group, equities research analysts expect that Northern Trust Corporation will post 8.27 earnings per share 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 paid a dividend of $0.80 per share. This is a positive change from Northern Trust's previous quarterly dividend of $0.75. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Friday, September 5th. Northern Trust's payout ratio is 35.25%.

Insider Buying and Selling at Northern Trust

In other news, Director Robert Edward Jr. Moritz purchased 256 shares of Northern Trust stock in a transaction that occurred on Wednesday, August 13th. The stock was bought 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 approximately $319,008.50. The trade was a 11.28% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.77% of the stock is 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.