Thompson Investment Management Inc. Sells 5,095 Shares of Northern Trust Corporation $NTRS

Key Points

• Thompson Investment Management Inc. reduced its holdings in Northern Trust Corporation by 8.3%, selling 5,095 shares during the second quarter, leaving them with a total of 56,060 shares valued at approximately $7.1 million.
• Several institutional investors have recently increased their positions in Northern Trust, with Massachusetts Financial Services Co. growing its stake by 4.9% and Bank of New York Mellon Corp increasing theirs by 47.8% in the first quarter.
• Northern Trust also increased its quarterly dividend from $0.75 to $0.80 per share, resulting in an annualized dividend of $3.20 and a yield of 2.5%.

Thompson Investment Management Inc. trimmed its position in Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 8.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 56,060 shares of the asset manager's stock after selling 5,095 shares during the quarter. Thompson Investment Management Inc.'s holdings in Northern Trust were worth $7,108,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA grew its position in shares of 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 purchasing an additional 363,472 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Northern Trust by 19.3% during the first quarter. Invesco Ltd. now owns 3,443,599 shares of the asset manager's stock worth $339,711,000 after buying an additional 558,287 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Northern Trust by 0.7% in the first quarter. American Century Companies Inc. now owns 3,013,123 shares of the asset manager's stock valued at $297,245,000 after acquiring an additional 20,010 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Northern Trust by 47.8% in the first quarter. Bank of New York Mellon Corp now owns 1,810,816 shares of the asset manager's stock worth $178,637,000 after acquiring an additional 585,992 shares during the last quarter. Finally, Confluence Investment Management LLC increased its position in Northern Trust by 6.6% during the second quarter. Confluence Investment Management LLC now owns 1,184,610 shares of the asset manager's stock worth $150,197,000 after acquiring an additional 72,867 shares during the period. Institutional investors own 83.19% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on NTRS shares. Truist Financial raised their target price on Northern Trust from $132.00 to $142.00 and gave the stock a "hold" rating in a research report on Thursday, October 2nd. Wolfe Research upgraded Northern Trust from an "underperform" rating to a "peer perform" rating in a research report on Thursday, July 24th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Northern Trust in a research report on Wednesday. Wells Fargo & Company raised their target price on shares of Northern Trust from $120.00 to $127.00 and gave the company an "equal weight" rating in a research note on Friday, October 3rd. Finally, Wall Street Zen raised shares of Northern Trust from a "sell" rating to a "hold" rating in a research note on Friday, September 26th. Four investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, Northern Trust has an average rating of "Hold" and an average price target of $128.23.

Northern Trust Stock Performance

NASDAQ NTRS opened at $129.99 on Friday. The firm's fifty day moving average price is $129.51 and its two-hundred day moving average price is $115.46. Northern Trust Corporation has a 1 year low of $81.62 and a 1 year high of $135.48. The firm has a market capitalization of $24.86 billion, a P/E ratio of 15.27, a price-to-earnings-growth ratio of 1.46 and a beta of 1.31. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.58.

Northern Trust (NASDAQ:NTRS - Get Free Report) last released its quarterly earnings data 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 return on equity of 14.06% and a net margin of 11.75%.The company had revenue of $2 billion during the quarter, compared to analysts' expectations of $1.96 billion. During the same period last year, the firm posted $4.34 earnings per share. The business's revenue was down 26.4% on a year-over-year basis. As a group, research analysts anticipate that Northern Trust Corporation will post 8.27 EPS for the current year.

Northern Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Friday, September 5th were given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 2.5%. The ex-dividend date was Friday, September 5th. This is a positive change from Northern Trust's previous quarterly dividend of $0.75. Northern Trust's dividend payout ratio (DPR) is 37.60%.

Insider Activity

In other Northern Trust news, Director Robert Edward Jr. Moritz acquired 256 shares of the business's stock in a transaction on Wednesday, August 13th. The stock was purchased at an average price of $126.34 per share, with a total value of $32,343.04. Following the acquisition, the director directly owned 2,525 shares of the company's stock, valued at approximately $319,008.50. This trade represents a 11.28% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.77% of the company's stock.

Northern Trust Company 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.

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