UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Sells 61,685 Shares of Northern Trust Corporation $NTRS

Key Points

• UBS AM reduced its stake in Northern Trust Corporation by 3.6%, selling 61,685 shares and retaining approximately 1.67 million shares valued at $164.3 million.
• Several institutional investors increased their holdings in Northern Trust during the first quarter, with Bank of New York Mellon boosting its stake by 47.8% and Allianz Asset Management increasing its stake by 529.4%.
• Northern Trust declared a quarterly dividend of $0.80, up from $0.75, with a payout ratio of 37.6% and an annual yield of 2.5%.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC reduced its holdings in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 3.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,665,680 shares of the asset manager's stock after selling 61,685 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned about 0.86% of Northern Trust worth $164,319,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Bank of New York Mellon Corp boosted its stake in Northern Trust by 47.8% in the 1st quarter. Bank of New York Mellon Corp now owns 1,810,816 shares of the asset manager's stock worth $178,637,000 after purchasing an additional 585,992 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Northern Trust by 4.9% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 7,850,088 shares of the asset manager's stock worth $774,411,000 after buying an additional 363,472 shares during the last quarter. Asset Management One Co. Ltd. increased its holdings in shares of Northern Trust by 8.4% in the 1st quarter. Asset Management One Co. Ltd. now owns 84,974 shares of the asset manager's stock worth $8,383,000 after buying an additional 6,570 shares during the last quarter. Allianz Asset Management GmbH increased its holdings in shares of Northern Trust by 529.4% in the 1st quarter. Allianz Asset Management GmbH now owns 461,383 shares of the asset manager's stock worth $45,515,000 after buying an additional 388,081 shares during the last quarter. Finally, Kathmere Capital Management LLC increased its holdings in shares of Northern Trust by 96.7% in the 1st quarter. Kathmere Capital Management LLC now owns 5,239 shares of the asset manager's stock worth $517,000 after buying an additional 2,575 shares during the last quarter. 83.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NTRS has been the topic of a number of research analyst reports. Wells Fargo & Company increased their price target on shares of Northern Trust from $111.00 to $120.00 and gave the stock an "equal weight" rating in a report on Thursday, July 24th. Zacks Research lowered shares of Northern Trust from a "strong-buy" rating to a "hold" rating in a report on Tuesday. Truist Financial boosted their target price on Northern Trust from $128.00 to $132.00 and gave the stock a "hold" rating in a research report on Thursday, August 14th. The Goldman Sachs Group boosted their target price on Northern Trust from $89.00 to $101.00 and gave the stock a "sell" rating in a research report on Wednesday, July 2nd. Finally, Barclays boosted their target price on Northern Trust from $128.00 to $136.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 24th. Two equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Reduce" and a consensus price target of $119.58.

Insider Activity at Northern Trust

In other Northern Trust news, Director Robert Edward Jr. Moritz bought 256 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The stock was bought at an average price of $126.34 per share, for a total transaction of $32,343.04. Following the completion of the acquisition, the director directly owned 2,525 shares in the company, valued at $319,008.50. The trade was a 11.28% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.77% of the stock is currently owned by corporate insiders.

Northern Trust Stock Performance

Shares of NTRS stock opened at $129.42 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.72 and a current ratio of 0.72. Northern Trust Corporation has a fifty-two week low of $81.62 and a fifty-two week high of $133.00. The stock has a 50 day moving average price of $127.95 and a two-hundred day moving average price of $111.62. The company has a market capitalization of $24.75 billion, a P/E ratio of 15.21, a PEG ratio of 1.54 and a beta of 1.30.

Northern Trust (NASDAQ:NTRS - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The asset manager reported $2.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.08 by $0.05. The business had revenue of $2 billion for the quarter, compared to analyst estimates of $1.96 billion. Northern Trust had a net margin of 11.75% and a return on equity of 14.06%. The company's revenue was down 26.4% on a year-over-year basis. During the same quarter last year, the firm earned $4.34 EPS. Analysts expect that Northern Trust Corporation will post 8.27 earnings per share for the current year.

Northern Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 5th will be issued a $0.80 dividend. This is a boost from Northern Trust's previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Friday, September 5th. This represents a $3.20 dividend on an annualized basis and a yield of 2.5%. Northern Trust's payout ratio is 37.60%.

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.

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