Arbejdsmarkedets Tillaegspension bought a new stake in shares of Northern Trust Corporation (NASDAQ:NTRS – Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 174,381 shares of the asset manager’s stock, valued at approximately $23,819,000.
Other large investors have also modified their holdings of the company. Triumph Capital Management purchased a new stake in shares of Northern Trust in the third quarter valued at approximately $25,000. Board of the Pension Protection Fund purchased a new stake in shares of Northern Trust in the fourth quarter valued at approximately $27,000. International Assets Investment Management LLC purchased a new stake in shares of Northern Trust in the fourth quarter valued at approximately $35,000. Olistico Wealth LLC purchased a new stake in shares of Northern Trust in the fourth quarter valued at approximately $41,000. Finally, True Wealth Design LLC boosted its holdings in shares of Northern Trust by 98.7% in the fourth quarter. True Wealth Design LLC now owns 314 shares of the asset manager’s stock valued at $43,000 after purchasing an additional 156 shares during the period. Hedge funds and other institutional investors own 83.19% of the company’s stock.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on NTRS shares. Barclays boosted their price target on Northern Trust from $160.00 to $176.00 and gave the company an “equal weight” rating in a report on Wednesday, April 22nd. Weiss Ratings raised shares of Northern Trust from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 4th. TD Cowen boosted their price objective on shares of Northern Trust from $165.00 to $175.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Evercore boosted their price objective on shares of Northern Trust from $142.00 to $155.00 and gave the stock an “in-line” rating in a research note on Friday, January 23rd. Finally, Wells Fargo & Company boosted their price objective on shares of Northern Trust from $150.00 to $175.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Northern Trust presently has an average rating of “Hold” and an average target price of $164.08.
Northern Trust Stock Performance
Shares of NTRS stock opened at $164.30 on Friday. The business’s fifty day simple moving average is $150.15 and its 200-day simple moving average is $143.01. The company has a market cap of $30.40 billion, a PE ratio of 17.20, a PEG ratio of 1.17 and a beta of 1.27. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.51. Northern Trust Corporation has a 12-month low of $104.09 and a 12-month high of $173.18.
Northern Trust (NASDAQ:NTRS – Get Free Report) last issued its quarterly earnings results on Tuesday, April 21st. The asset manager reported $2.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.37 by $0.34. The business had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.13 billion. Northern Trust had a return on equity of 15.94% and a net margin of 12.84%.The business’s quarterly revenue was up 13.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.90 earnings per share. Analysts expect that Northern Trust Corporation will post 10.68 earnings per share for the current fiscal year.
Northern Trust Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 5th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.9%. Northern Trust’s dividend payout ratio is presently 33.51%.
Insiders Place Their Bets
In other news, insider Clive Bellows sold 2,800 shares of the company’s stock in a transaction on Friday, April 24th. The stock was sold at an average price of $165.02, for a total transaction of $462,056.00. Following the transaction, the insider directly owned 28,217 shares of the company’s stock, valued at approximately $4,656,369.34. This represents a 9.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robert Edward Jr. Moritz acquired 225 shares of the company’s stock in a transaction dated Friday, May 1st. The shares were bought at an average cost of $166.41 per share, for a total transaction of $37,442.25. Following the completion of the acquisition, the director directly owned 8,145 shares of the company’s stock, valued at approximately $1,355,409.45. The trade was a 2.84% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders sold 30,514 shares of company stock valued at $4,890,937. Company insiders own 0.66% of the company’s stock.
Northern Trust Company Profile
Northern Trust Corporation (NASDAQ: NTRS) is a global financial services firm headquartered in Chicago that provides asset servicing, asset management and wealth management solutions to institutions, corporations and high-net-worth individuals. The company’s core businesses include custody and fund administration, investment operations outsourcing, trust and fiduciary services, private banking, and retirement and defined contribution plan services.
Northern Trust’s product and service offerings span custody and fund accounting, portfolio and performance analytics, securities lending, cash management and foreign exchange, as well as discretionary and non-discretionary investment management.
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