Qtron Investments LLC Invests $941,000 in Northern Trust Corporation $NTRS

Key Points

• Qtron Investments LLC has invested $941,000 in Northern Trust Corporation by acquiring 9,537 shares, indicating growing institutional interest in the company.
• Northern Trust recently announced an increase in its quarterly dividend from $0.75 to $0.80 per share, reflecting a positive outlook for investors.
• Despite a recent earnings report beating estimates, Northern Trust's quarterly revenue has declined by 26.4% year-over-year, highlighting potential challenges ahead.

Qtron Investments LLC acquired a new position in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 9,537 shares of the asset manager's stock, valued at approximately $941,000.

Other hedge funds also recently made changes to their positions in the company. Colonial Trust Co SC raised its position 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 acquiring an additional 256 shares during the last quarter. Continuum Advisory LLC raised its position in shares of Northern Trust by 5,340.0% during the first quarter. Continuum Advisory LLC now owns 272 shares of the asset manager's stock worth $27,000 after acquiring an additional 267 shares during the last quarter. Zions Bancorporation National Association UT bought a new position in shares of Northern Trust during the first quarter worth about $29,000. Wayfinding Financial LLC bought a new position in shares of Northern Trust during the first quarter worth about $35,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of Northern Trust during the first quarter worth about $43,000. 83.19% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Barclays lifted their target price on Northern Trust from $128.00 to $136.00 and gave the stock an "equal weight" rating in a report on Thursday, July 24th. Evercore ISI lifted their target price on Northern Trust from $108.00 to $121.00 and gave the stock an "in-line" rating in a report on Wednesday, July 2nd. The Goldman Sachs Group lifted their target price on Northern Trust from $89.00 to $101.00 and gave the stock a "sell" rating in a report on Wednesday, July 2nd. Wolfe Research upgraded Northern Trust from an "underperform" rating to a "peer perform" rating in a report on Thursday, July 24th. Finally, Wells Fargo & Company lifted their target price on Northern Trust from $111.00 to $120.00 and gave the stock an "equal weight" rating in a report on Thursday, July 24th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Northern Trust presently has an average rating of "Hold" and a consensus price target of $117.08.

Northern Trust Trading Up 0.8%

NASDAQ NTRS opened at $127.05 on Tuesday. The company has a market cap of $24.30 billion, a price-to-earnings ratio of 14.93, a P/E/G ratio of 1.67 and a beta of 1.28. Northern Trust Corporation has a 52 week low of $81.62 and a 52 week high of $133.00. The business has a 50 day moving average price of $123.78 and a 200-day moving average price of $109.31. 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 (NASDAQ:NTRS - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The asset manager reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.05. The company had revenue of $2 billion for 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%. Northern Trust's quarterly revenue was down 26.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.34 earnings per share. As a group, equities analysts expect that Northern Trust Corporation will post 8.27 earnings per share for the current fiscal year.

Northern Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 5th will be given a dividend of $0.80 per share. 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 dividend yield of 2.5%. Northern Trust's payout ratio is presently 35.25%.

Insider Activity

In related news, Director Robert Edward Jr. Moritz bought 256 shares of the business's stock in a transaction that occurred on Wednesday, August 13th. The shares were 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 in the company, valued at approximately $319,008.50. This represents a 11.28% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.77% of the stock is currently owned by insiders.

About Northern Trust

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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