Vanguard Personalized Indexing Management LLC Acquires 2,571 Shares of Northern Trust Corporation $NTRS

Key Points

• Vanguard Personalized Indexing Management LLC increased its holdings in Northern Trust Corporation by 11.0%, resulting in ownership of 25,859 shares worth $3,279,000.
• Northern Trust announced a quarterly dividend increase from $0.75 to $0.80, representing a 2.5% yield with a payout ratio of 37.60%.
• Despite a year-over-year revenue decrease of 26.4%, Northern Trust reported earnings per share of $2.13 for the last quarter, surpassing estimates of $2.08.

Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 11.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,859 shares of the asset manager's stock after acquiring an additional 2,571 shares during the period. Vanguard Personalized Indexing Management LLC's holdings in Northern Trust were worth $3,279,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Continuum Advisory LLC lifted its holdings in 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 in the last quarter. Zions Bancorporation National Association UT acquired a new stake in shares of Northern Trust in the 1st quarter valued at about $29,000. Wayfinding Financial LLC acquired a new stake in shares of Northern Trust in the 1st quarter valued at about $35,000. GFG Capital LLC acquired a new stake in shares of Northern Trust in the 2nd quarter valued at about $35,000. Finally, Harbor Investment Advisory LLC raised its stake in shares of Northern Trust by 68.4% in the 2nd quarter. Harbor Investment Advisory LLC now owns 320 shares of the asset manager's stock valued at $41,000 after purchasing an additional 130 shares during the period. 83.19% of the stock is currently owned by institutional investors.

Northern Trust Price Performance

Shares of NASDAQ NTRS opened at $129.02 on Wednesday. The business's 50 day moving average price is $129.51 and its two-hundred day moving average price is $116.13. The company has a market cap of $24.67 billion, a PE ratio of 15.16, a price-to-earnings-growth ratio of 1.42 and a beta of 1.31. 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 Corporation has a twelve month low of $81.62 and a twelve month high of $135.48.

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 for the quarter, topping 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 firm had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter in the previous year, the business earned $4.34 earnings per share. The business's revenue was down 26.4% compared to the same quarter last year. On average, analysts predict that Northern Trust Corporation will post 8.27 EPS for the current year.

Northern Trust Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Friday, September 5th were given a $0.80 dividend. The ex-dividend date of this dividend was 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 (DPR) is currently 37.60%.

Analyst Ratings Changes

Several analysts have issued reports on the company. Evercore ISI lifted their price target on Northern Trust from $125.00 to $135.00 and gave the company an "in-line" rating in a research note on Tuesday, September 30th. Truist Financial lifted their price target on Northern Trust from $132.00 to $142.00 and gave the company a "hold" rating in a research note on Thursday, October 2nd. Keefe, Bruyette & Woods reissued an "underperform" rating and issued a $118.00 price target (down previously from $120.00) on shares of Northern Trust in a research note on Thursday, July 24th. Weiss Ratings reissued a "buy (b-)" rating on shares of Northern Trust in a research note on Wednesday, October 8th. Finally, Royal Bank Of Canada set a $123.00 target price on Northern Trust and gave the company an "outperform" rating in a research report on Monday, June 30th. Four equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Northern Trust presently has a consensus rating of "Hold" and an average target price of $128.23.

Insider Activity

In related news, Director Robert Edward Jr. Moritz purchased 256 shares of the business's stock in a transaction that occurred on Wednesday, August 13th. The stock was acquired at an average cost of $126.34 per share, for a total transaction of $32,343.04. Following the completion of the purchase, the director owned 2,525 shares in the company, valued at approximately $319,008.50. This represents a 11.28% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.77% of the company's stock.

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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