United Services Automobile Association Buys Shares of 4,936 Northern Trust Corporation $NTRS

Key Points

• United Services Automobile Association acquired 4,936 shares of Northern Trust Corporation, valued at approximately $480,000, during the first quarter of the year.
• Analysts have varied price targets for Northern Trust, with Goldman Sachs raising their target from $89 to $101 and Citigroup increasing theirs from $110 to $135, while the overall consensus rating remains at "Reduce".
• Northern Trust announced an increase in its quarterly dividend, now $0.80 per share, compared to the previous $0.75, resulting in an annualized yield of 2.5%.

United Services Automobile Association bought a new stake in Northern Trust Corporation (NASDAQ:NTRS - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 4,936 shares of the asset manager's stock, valued at approximately $480,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd purchased a new stake in Northern Trust in the first quarter valued at approximately $670,000. UniSuper Management Pty Ltd raised its position in Northern Trust by 3.8% in the first quarter. UniSuper Management Pty Ltd now owns 24,607 shares of the asset manager's stock valued at $2,427,000 after purchasing an additional 900 shares during the period. Hancock Whitney Corp purchased a new stake in Northern Trust in the first quarter valued at approximately $411,000. Curi RMB Capital LLC raised its position in Northern Trust by 24.3% in the first quarter. Curi RMB Capital LLC now owns 11,681 shares of the asset manager's stock valued at $1,161,000 after purchasing an additional 2,287 shares during the period. Finally, Alliancebernstein L.P. increased its position in shares of Northern Trust by 0.7% during the first quarter. Alliancebernstein L.P. now owns 260,354 shares of the asset manager's stock worth $25,684,000 after acquiring an additional 1,746 shares during the period. Hedge funds and other institutional investors own 83.19% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on NTRS. The Goldman Sachs Group upped their price objective on Northern Trust from $89.00 to $101.00 and gave the stock a "sell" rating in a research report on Wednesday, July 2nd. Wall Street Zen lowered Northern Trust from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. Citigroup upped their price objective on Northern Trust from $110.00 to $135.00 and gave the stock a "neutral" rating in a research report on Friday, September 5th. Wells Fargo & Company upped their price objective on Northern Trust from $111.00 to $120.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 24th. Finally, Morgan Stanley upped their price objective on Northern Trust from $103.00 to $106.00 and gave the stock an "underweight" rating in a research report on Tuesday, July 1st. Two investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Reduce" and an average price target of $119.58.

Insider Activity

In other news, Director Robert Edward Jr. Moritz acquired 256 shares of the company's stock in a transaction 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 acquisition, the director owned 2,525 shares in the company, valued at $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 link. Insiders own 0.77% of the company's stock.

Northern Trust Stock Performance

Shares of NTRS stock opened at $127.06 on Thursday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.58. The firm has a fifty day moving average price of $128.04 and a 200 day moving average price of $111.37. The company has a market cap of $24.30 billion, a P/E ratio of 14.93, a PEG ratio of 1.53 and a beta of 1.30. Northern Trust Corporation has a 12 month low of $81.62 and a 12 month high of $133.00.

Northern Trust (NASDAQ:NTRS - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The asset manager reported $2.13 EPS for the quarter, topping analysts' consensus estimates of $2.08 by $0.05. The firm had revenue of $2 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.34 earnings per share. Sell-side analysts predict that Northern Trust Corporation will post 8.27 earnings per share for the current fiscal year.

Northern Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 5th will be issued 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 dividend payout ratio is 37.60%.

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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