Swedbank AB raised its stake in Northern Trust Corporation (NASDAQ:NTRS – Free Report) by 13.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 58,615 shares of the asset manager’s stock after acquiring an additional 7,114 shares during the period. Swedbank AB’s holdings in Northern Trust were worth $8,181,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. V Square Quantitative Management LLC boosted its stake in shares of Northern Trust by 1.3% in the 1st quarter. V Square Quantitative Management LLC now owns 4,793 shares of the asset manager’s stock valued at $669,000 after purchasing an additional 61 shares in the last quarter. CWS Financial Advisors LLC lifted its holdings in Northern Trust by 2.0% during the 1st quarter. CWS Financial Advisors LLC now owns 3,997 shares of the asset manager’s stock valued at $558,000 after purchasing an additional 77 shares during the last quarter. SJS Investment Consulting Inc. boosted its position in Northern Trust by 16.5% in the first quarter. SJS Investment Consulting Inc. now owns 559 shares of the asset manager’s stock valued at $78,000 after buying an additional 79 shares in the last quarter. Apollon Wealth Management LLC increased its holdings in shares of Northern Trust by 1.9% during the fourth quarter. Apollon Wealth Management LLC now owns 4,379 shares of the asset manager’s stock worth $598,000 after buying an additional 81 shares in the last quarter. Finally, OLD National Bancorp IN raised its stake in shares of Northern Trust by 3.2% in the first quarter. OLD National Bancorp IN now owns 2,663 shares of the asset manager’s stock valued at $372,000 after acquiring an additional 83 shares during the last quarter. 83.19% of the stock is owned by institutional investors.
Northern Trust Trading Up 0.4%
Northern Trust stock traded up $0.69 during trading hours on Friday, reaching $183.55. 805,612 shares of the company’s stock traded hands, compared to its average volume of 916,431. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.62 and a current ratio of 0.62. Northern Trust Corporation has a fifty-two week low of $118.99 and a fifty-two week high of $185.57. The firm has a market capitalization of $33.97 billion, a price-to-earnings ratio of 19.22, a PEG ratio of 1.17 and a beta of 1.25. The firm’s 50 day moving average is $170.53 and its 200-day moving average is $154.74.
Northern Trust Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Friday, June 5th were paid a $0.80 dividend. The ex-dividend date of this dividend was Friday, June 5th. This represents a $3.20 dividend on an annualized basis and a yield of 1.7%. Northern Trust’s dividend payout ratio (DPR) is presently 33.51%.
Wall Street Analyst Weigh In
A number of research firms recently commented on NTRS. Morgan Stanley increased their price target on Northern Trust from $157.00 to $170.00 and gave the stock an “underweight” rating in a research report on Monday, June 29th. Truist Financial increased their price target on shares of Northern Trust from $176.00 to $186.00 and gave the company a “hold” rating in a research note on Friday, June 26th. Wells Fargo & Company raised their price target on shares of Northern Trust from $175.00 to $189.00 and gave the company an “equal weight” rating in a report on Wednesday, June 24th. Citigroup boosted their price objective on shares of Northern Trust from $162.00 to $172.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 30th. Finally, Royal Bank Of Canada increased their price objective on Northern Trust from $159.00 to $178.00 and gave the company an “outperform” rating in a research report on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $178.75.
Get Our Latest Analysis on Northern Trust
Insiders Place Their Bets
In other news, CFO David W. Fox, Jr. sold 19,987 shares of the firm’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $166.16, for a total value of $3,321,039.92. Following the transaction, the chief financial officer directly owned 18,588 shares in the company, valued at $3,088,582.08. This trade represents a 51.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Clive Bellows sold 2,800 shares of Northern Trust stock in a transaction on Friday, April 24th. The stock was sold at an average price of $165.02, for a total value of $462,056.00. Following the sale, the insider directly owned 28,217 shares of the company’s stock, valued at approximately $4,656,369.34. This trade represents a 9.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 22,800 shares of company stock valued at $3,785,251. 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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