Wellington Management Group LLP Has $212.71 Million Position in Northern Trust Corporation $NTRS

Key Points

• Wellington Management Group LLP reduced its stake in Northern Trust Corporation by 14.9% in Q1, now holding over 2.15 million shares valued at approximately $212.7 million.
• Northern Trust recently announced a quarterly dividend increase from $0.75 to $0.80, representing a yield of 2.5%.
• The company reported earnings of $2.13 per share in its latest quarter, exceeding estimates, despite a 26.4% decline in revenue compared to the previous year.

Wellington Management Group LLP lessened its stake in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 14.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,156,162 shares of the asset manager's stock after selling 376,239 shares during the period. Wellington Management Group LLP owned 1.11% of Northern Trust worth $212,705,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the company. Massachusetts Financial Services Co. MA lifted its position in Northern Trust by 4.9% during 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 acquiring an additional 363,472 shares during the last quarter. Invesco Ltd. lifted its position in shares of Northern Trust by 19.3% during the 1st quarter. Invesco Ltd. now owns 3,443,599 shares of the asset manager's stock worth $339,711,000 after purchasing an additional 558,287 shares during the last quarter. American Century Companies Inc. boosted its stake in Northern Trust by 0.7% during the 1st quarter. American Century Companies Inc. now owns 3,013,123 shares of the asset manager's stock valued at $297,245,000 after purchasing an additional 20,010 shares during the period. Dimensional Fund Advisors LP grew its holdings in Northern Trust by 2.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,201,309 shares of the asset manager's stock valued at $225,641,000 after buying an additional 62,605 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Northern Trust by 47.8% during 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 acquiring an additional 585,992 shares during the period. 83.19% of the stock is owned by institutional investors.

Insider Activity at Northern Trust

In other Northern Trust news, Director Robert Edward Jr. Moritz purchased 256 shares of the company's stock in a transaction dated 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 transaction, the director directly owned 2,525 shares in the company, valued at $319,008.50. This trade represents a 11.28% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.77% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

NTRS has been the subject of a number of recent research reports. Morgan Stanley increased their target price on Northern Trust from $103.00 to $106.00 and gave the stock an "underweight" rating in a report on Tuesday, July 1st. Evercore ISI lifted their price objective on Northern Trust from $108.00 to $121.00 and gave the company an "in-line" rating in a report on Wednesday, July 2nd. Keefe, Bruyette & Woods restated an "underperform" rating and issued a $118.00 target price (down previously from $120.00) on shares of Northern Trust in a research note on Thursday, July 24th. Wolfe Research upgraded shares of Northern Trust from an "underperform" rating to a "peer perform" rating in a research report on Thursday, July 24th. Finally, The Goldman Sachs Group boosted their price target 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. Two research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Reduce" and an average target price of $117.08.

Northern Trust Price Performance

Shares of Northern Trust stock traded up $2.75 during midday trading on Friday, reaching $130.06. The company had a trading volume of 1,014,855 shares, compared to its average volume of 1,065,403. 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 stock has a fifty day simple moving average of $125.33 and a 200 day simple moving average of $109.78. Northern Trust Corporation has a 1-year low of $81.62 and a 1-year high of $133.00. The company has a market capitalization of $24.87 billion, a price-to-earnings ratio of 15.28, a price-to-earnings-growth ratio of 1.55 and a beta of 1.28.

Northern Trust (NASDAQ:NTRS - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The asset manager reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.05. Northern Trust had a net margin of 11.75% and a return on equity of 14.06%. The company had revenue of $2 billion for the quarter, compared to analyst estimates of $1.96 billion. The company's revenue for the quarter was down 26.4% on a year-over-year basis. During the same quarter last year, the firm earned $4.34 EPS. As a group, equities research analysts forecast 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. Stockholders of record on Friday, September 5th will be issued a $0.80 dividend. This is a positive change 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 annualized dividend and a dividend yield of 2.5%. Northern Trust's dividend payout ratio (DPR) is presently 35.25%.

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.