Carlson Capital L.P. Takes $404,000 Position in Northern Trust Corporation $NTRS

Carlson Capital L.P. acquired a new stake in shares of Northern Trust Corporation (NASDAQ:NTRS) in the first quarter, HoldingsChannel.com reports. The institutional investor acquired 4,100 shares of the asset manager’s stock, valued at approximately $404,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Massachusetts Financial Services Co. MA increased its stake in shares of 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 valued at $774,411,000 after acquiring an additional 363,472 shares during the last quarter. Invesco Ltd. increased its stake 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 valued at $339,711,000 after acquiring an additional 558,287 shares during the last quarter. American Century Companies Inc. increased its stake in shares of 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 acquiring an additional 20,010 shares during the last quarter. Bank of New York Mellon Corp increased its stake 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 valued at $178,637,000 after acquiring an additional 585,992 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Northern Trust by 9.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,727,365 shares of the asset manager’s stock valued at $177,055,000 after acquiring an additional 150,274 shares during the last quarter. Institutional investors and hedge funds own 83.19% of the company’s stock.

Wall Street Analyst Weigh In

NTRS has been the subject of a number of research analyst reports. The Goldman Sachs Group increased their target price on shares of Northern Trust from $89.00 to $101.00 and gave the stock a “sell” rating in a research report on Wednesday, July 2nd. Truist Financial increased their target price on shares of Northern Trust from $128.00 to $132.00 and gave the stock a “hold” rating in a research report on Thursday, August 14th. Wall Street Zen downgraded shares of Northern Trust from a “hold” rating to a “sell” rating in a research report on Saturday, August 16th. Royal Bank Of Canada set a $123.00 target price on shares of Northern Trust and gave the stock an “outperform” rating in a research report on Monday, June 30th. Finally, Wolfe Research raised shares of Northern Trust from an “underperform” rating to a “peer perform” rating in a research report on Thursday, July 24th. Two analysts have rated the stock with a Buy rating, eight 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 “Reduce” and an average price target of $117.08.

Northern Trust Stock Performance

Northern Trust stock opened at $131.87 on Wednesday. The stock has a market cap of $25.22 billion, a P/E ratio of 15.50, a price-to-earnings-growth ratio of 1.55 and a beta of 1.28. 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 50 day moving average of $126.16 and a 200-day moving average of $110.02. Northern Trust Corporation has a 52 week low of $81.62 and a 52 week high of $133.00.

Northern Trust (NASDAQ:NTRS) last posted its quarterly 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 return on equity of 14.06% and a net margin of 11.75%.The business had revenue of $2 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same period in the prior year, the company posted $4.34 EPS. The business’s revenue was down 26.4% compared to the same quarter last year. On average, analysts expect that Northern Trust Corporation will post 8.27 EPS for the current fiscal year.

Northern Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 5th will be given a $0.80 dividend. This is a boost from Northern Trust’s previous quarterly dividend of $0.75. This represents a $3.20 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Friday, September 5th. Northern Trust’s dividend payout ratio is 35.25%.

Insiders Place Their Bets

In related news, Director Robert Edward Jr. Moritz bought 256 shares of the company’s stock in a transaction on Wednesday, August 13th. The shares were purchased at an average cost 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 of the company’s stock, valued at approximately $319,008.50. This represents a 11.28% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.77% of the stock is owned by corporate insiders.

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.