TD Asset Management Inc grew its stake in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 72.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 138,280 shares of the asset manager's stock after buying an additional 58,109 shares during the period. TD Asset Management Inc owned 0.07% of Northern Trust worth $13,641,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in NTRS. Massachusetts Financial Services Co. MA raised its position 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 during the last quarter. Geode Capital Management LLC lifted its stake in Northern Trust by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 4,904,871 shares of the asset manager's stock worth $501,444,000 after purchasing an additional 30,908 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Northern Trust by 7.5% during the 4th quarter. Invesco Ltd. now owns 2,885,312 shares of the asset manager's stock valued at $295,744,000 after purchasing an additional 202,327 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Northern Trust by 1.6% in the fourth quarter. Wellington Management Group LLP now owns 2,532,401 shares of the asset manager's stock worth $259,571,000 after purchasing an additional 39,592 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Northern Trust by 2.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,201,309 shares of the asset manager's stock worth $225,641,000 after buying an additional 62,605 shares in the last quarter. 83.19% of the stock is owned by hedge funds and other institutional investors.
Northern Trust Stock Down 2.3%
NASDAQ:NTRS traded down $2.94 during mid-day trading on Friday, reaching $127.06. The company's stock had a trading volume of 1,409,350 shares, compared to its average volume of 1,570,245. Northern Trust Corporation has a 1 year low of $80.81 and a 1 year high of $133.00. The stock has a fifty day moving average of $119.11 and a 200-day moving average of $107.86. The firm has a market capitalization of $24.30 billion, a PE ratio of 14.93, a price-to-earnings-growth ratio of 1.73 and a beta of 1.28. The company has a quick ratio of 0.71, a current ratio of 0.72 and a debt-to-equity ratio of 0.58.
Northern Trust (NASDAQ:NTRS - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The asset manager reported $2.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $1.96 billion. During the same quarter in the prior year, the business posted $4.34 EPS. Northern Trust's revenue for the quarter was down 26.4% compared to the same quarter last year. Equities research analysts forecast 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 given a dividend of $0.80 per share. This is a boost from Northern Trust's previous quarterly dividend of $0.75. This represents a $3.20 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Friday, September 5th. Northern Trust's dividend payout ratio (DPR) is currently 35.25%.
Analysts Set New Price Targets
Several equities analysts have weighed in on the company. Keefe, Bruyette & Woods restated an "underperform" rating and set a $118.00 price target (down previously from $120.00) on shares of Northern Trust in a report on Thursday, July 24th. Wolfe Research raised shares of Northern Trust from an "underperform" rating to a "peer perform" rating in a report on Thursday, July 24th. Truist Financial upped their price target on shares of Northern Trust from $116.00 to $126.00 and gave the company a "hold" rating in a research note on Thursday, July 3rd. Wells Fargo & Company lifted their price objective on shares of Northern Trust from $111.00 to $120.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 24th. Finally, The Goldman Sachs Group upped their target price 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 analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $116.58.
Read Our Latest Stock Analysis on Northern Trust
Insiders Place Their Bets
In related news, insider Teresa Parker sold 6,467 shares of the company's stock in a transaction dated 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 sale, the insider owned 79,391 shares of the company's stock, valued at approximately $7,988,322.42. This represents a 7.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Clive Bellows sold 3,300 shares of the firm's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $99.95, for a total value 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. This trade represents a 10.30% decrease in their position. The disclosure for this sale can be found here. Insiders have 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.
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.
See Also
Before you consider Northern Trust, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Northern Trust wasn't on the list.
While Northern Trust currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.
Get This Free Report
