Zurcher Kantonalbank Zurich Cantonalbank Acquires 3,019 Shares of Northern Trust Corporation (NASDAQ:NTRS)

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 3.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 93,881 shares of the asset manager's stock after buying an additional 3,019 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Northern Trust were worth $9,261,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NTRS. Colonial Trust Co SC lifted its position in shares of Northern Trust by 6,400.0% during the fourth quarter. Colonial Trust Co SC now owns 260 shares of the asset manager's stock worth $27,000 after purchasing an additional 256 shares during the last quarter. Continuum Advisory LLC increased its stake in Northern Trust by 5,340.0% during the first quarter. Continuum Advisory LLC now owns 272 shares of the asset manager's stock valued at $27,000 after purchasing an additional 267 shares during the last quarter. Wayfinding Financial LLC acquired a new stake in shares of Northern Trust during the first quarter worth $35,000. True Wealth Design LLC lifted its position in shares of Northern Trust by 84.0% in the 4th quarter. True Wealth Design LLC now owns 425 shares of the asset manager's stock worth $44,000 after buying an additional 194 shares during the last quarter. Finally, Coppell Advisory Solutions LLC acquired a new stake in Northern Trust during the fourth quarter worth about $44,000. Hedge funds and other institutional investors own 83.19% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Morgan Stanley lifted their target price on Northern Trust from $103.00 to $106.00 and gave the company an "underweight" rating in a research note on Tuesday, July 1st. The Goldman Sachs Group increased 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. Wolfe Research upgraded shares of Northern Trust from an "underperform" rating to a "peer perform" rating in a research report on Thursday, July 24th. Wall Street Zen upgraded shares of Northern Trust from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Finally, Truist Financial upped their target price on shares of Northern Trust from $116.00 to $126.00 and gave the stock a "hold" rating in a research report on Thursday, July 3rd. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Northern Trust has an average rating of "Hold" and a consensus price target of $116.58.

Insiders Place Their Bets

In other Northern Trust news, insider Teresa Parker sold 6,467 shares of the company's stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $100.62, for a total value of $650,709.54. Following the transaction, the insider directly owned 79,391 shares of the company's stock, valued at $7,988,322.42. This represents a 7.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Clive Bellows sold 3,300 shares of the firm's stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $99.95, for a total transaction of $329,835.00. Following the transaction, the executive vice president directly owned 28,736 shares in the company, valued at approximately $2,872,163.20. The trade was a 10.30% decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,772 shares of company stock worth $981,069 over the last ninety days. 0.77% of the stock is currently owned by company insiders.

Northern Trust Trading Down 2.3%

Shares of Northern Trust stock traded down $2.94 on Friday, reaching $127.06. 1,409,350 shares of the company were exchanged, compared to its average volume of 1,570,245. The stock has a fifty day moving average price of $119.11 and a 200-day moving average price of $107.86. The firm has a market capitalization of $24.30 billion, a price-to-earnings ratio of 14.93, a price-to-earnings-growth ratio of 1.73 and a beta of 1.28. Northern Trust Corporation has a fifty-two week low of $80.81 and a fifty-two week high of $133.00. The company has a current ratio of 0.72, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58.

Northern Trust (NASDAQ:NTRS - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The asset manager reported $2.13 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 business had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter in the prior year, the firm earned $4.34 EPS. The firm's quarterly revenue was down 26.4% on a year-over-year basis. On average, analysts expect that Northern Trust Corporation will post 8.27 EPS for the current year.

Northern Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 5th will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.5%. 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. Northern Trust's dividend payout ratio (DPR) is currently 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.