OMERS ADMINISTRATION Corp Buys Shares of 116,762 Northern Trust Corporation $NTRS

Key Points

• OMERS Administration Corp. acquired 116,762 Northern Trust shares worth approximately $20.3 million, giving it a 0.06% stake. Institutional investors and hedge funds collectively own 83.19% of the company.
• Northern Trust reported quarterly EPS of $4.23, beating estimates of $2.71, while revenue rose 35.1% year over year to $2.71 billion.
• The company increased its quarterly dividend from $0.80 to $0.88 per share, implying an annualized dividend of $3.52 and a 1.9% yield; analysts maintain a consensus “Hold” rating with a $180.68 price target.

OMERS ADMINISTRATION Corp bought a new stake in Northern Trust Corporation (NASDAQ:NTRS - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 116,762 shares of the asset manager's stock, valued at approximately $20,298,000. OMERS ADMINISTRATION Corp owned 0.06% of Northern Trust at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the stock. Reflection Asset Management purchased a new position in shares of Northern Trust during the 4th quarter valued at $25,000. Triumph Capital Management acquired a new stake in Northern Trust during the third quarter valued at $25,000. Basecamp Wealth Advisors LLC grew its stake in Northern Trust by 99.0% in the first quarter. Basecamp Wealth Advisors LLC now owns 203 shares of the asset manager's stock valued at $28,000 after purchasing an additional 101 shares in the last quarter. Keating Financial Advisory Services Inc. purchased a new stake in shares of Northern Trust during the 2nd quarter worth about $31,000. Finally, Elyxium Wealth LLC acquired a new stake in shares of Northern Trust during the 4th quarter valued at about $34,000. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NTRS has been the topic of several recent research reports. Royal Bank Of Canada lowered shares of Northern Trust from an "outperform" rating to a "sector perform" rating and set a $178.00 price objective on the stock. in a research report on Wednesday, July 22nd. Truist Financial raised their price target on shares of Northern Trust from $176.00 to $186.00 and gave the company a "hold" rating in a report on Friday, June 26th. Barclays lifted their price objective on shares of Northern Trust from $176.00 to $189.00 and gave the company an "equal weight" rating in a research note on Thursday, July 23rd. UBS Group set a $186.00 target price on shares of Northern Trust in a research report on Friday, June 26th. Finally, Citigroup raised their target price on Northern Trust from $162.00 to $172.00 and gave the company a "neutral" rating in a report on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $180.68.

Northern Trust Stock Performance

NASDAQ:NTRS opened at $183.90 on Monday. The company's 50 day moving average is $181.52 and its 200-day moving average is $163.35. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.43. Northern Trust Corporation has a 12 month low of $121.12 and a 12 month high of $195.78. The firm has a market cap of $33.65 billion, a price-to-earnings ratio of 15.79, a P/E/G ratio of 1.04 and a beta of 1.25.

Northern Trust (NASDAQ:NTRS - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The asset manager reported $4.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.71 by $1.52. Northern Trust had a net margin of 14.76% and a return on equity of 16.91%. The business had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.69 billion. During the same period in the prior year, the firm earned $2.13 EPS. Northern Trust's quarterly revenue was up 35.1% compared to the same quarter last year. Equities analysts anticipate that Northern Trust Corporation will post 11.59 EPS for the current year.

Northern Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 4th will be issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.9%. This is a positive change from Northern Trust's previous quarterly dividend of $0.80. The ex-dividend date is Friday, September 4th. Northern Trust's dividend payout ratio is currently 27.47%.

Insider Activity

In other Northern Trust news, Director Robert Edward Jr. Moritz purchased 255 shares of the stock in a transaction dated Wednesday, July 29th. The shares were bought at an average cost of $179.57 per share, with a total value of $45,790.35. Following the completion of the transaction, the director owned 8,400 shares in the company, valued at $1,508,388. This trade represents a 3.13% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.66% of the company's stock.

Northern Trust Company Profile

Northern Trust Corporation NASDAQ: NTRS is a global financial services firm headquartered in Chicago that provides asset servicing, asset management and wealth management solutions to institutions, corporations and high-net-worth individuals. The company's core businesses include custody and fund administration, investment operations outsourcing, trust and fiduciary services, private banking, and retirement and defined contribution plan services.

Northern Trust's product and service offerings span custody and fund accounting, portfolio and performance analytics, securities lending, cash management and foreign exchange, as well as discretionary and non-discretionary investment management.

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