Arbejdsmarkedets Tillaegspension Invests $23.82 Million in Northern Trust Corporation $NTRS

Key Points

• Arbejdsmarkedets Tillaegspension opened a new position in Northern Trust during the fourth quarter, buying 174,381 shares worth about $23.8 million. The stake represented roughly 0.09% of the company at the end of the reporting period.
• Northern Trust reported stronger-than-expected quarterly results, posting EPS of $2.71 versus the $2.37 estimate and revenue of $2.21 billion, up 13.8% year over year. Analysts now expect the company to generate 10.68 EPS for the current fiscal year.
• The company also announced a quarterly dividend of $0.80 per share, payable July 1, implying a 1.9% annualized yield. Meanwhile, analysts remain cautious overall, with a consensus rating of “Hold” and an average target price of $164.08.

Arbejdsmarkedets Tillaegspension purchased a new position in Northern Trust Corporation (NASDAQ:NTRS - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 174,381 shares of the asset manager's stock, valued at approximately $23,819,000. Arbejdsmarkedets Tillaegspension owned about 0.09% of Northern Trust at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Triumph Capital Management bought a new position in Northern Trust in the 3rd quarter worth $25,000. Board of the Pension Protection Fund bought a new position in Northern Trust in the 4th quarter worth $27,000. International Assets Investment Management LLC bought a new position in Northern Trust in the 4th quarter worth $35,000. Olistico Wealth LLC bought a new position in Northern Trust in the 4th quarter worth $41,000. Finally, True Wealth Design LLC raised its holdings in Northern Trust by 98.7% in the 4th quarter. True Wealth Design LLC now owns 314 shares of the asset manager's stock worth $43,000 after purchasing an additional 156 shares during the period. 83.19% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

NTRS has been the topic of a number of recent research reports. Barclays raised their target price on Northern Trust from $160.00 to $176.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 22nd. Wells Fargo & Company raised their price target on Northern Trust from $150.00 to $175.00 and gave the company an "equal weight" rating in a report on Wednesday, April 22nd. Citigroup initiated coverage on Northern Trust in a report on Monday, February 23rd. They set a "neutral" rating on the stock. Zacks Research raised Northern Trust from a "hold" rating to a "strong-buy" rating in a report on Tuesday. Finally, The Goldman Sachs Group raised their price target on Northern Trust from $151.00 to $169.00 and gave the company a "neutral" rating in a report on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $164.08.

Insider Buying and Selling

In related news, Director Robert Edward Jr. Moritz purchased 225 shares of the company's stock in a transaction that occurred on Friday, May 1st. The stock was bought at an average price of $166.41 per share, for a total transaction of $37,442.25. Following the completion of the transaction, the director owned 8,145 shares in the company, valued at approximately $1,355,409.45. The trade was a 2.84% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO David W. Fox, Jr. sold 19,987 shares of Northern Trust stock in a transaction dated 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 completion of the transaction, the chief financial officer owned 18,588 shares of the company's stock, valued at approximately $3,088,582.08. This represents a 51.81% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 30,514 shares of company stock worth $4,890,937. Insiders own 0.66% of the company's stock.

Northern Trust Trading Up 0.8%

Shares of NTRS stock opened at $164.30 on Friday. Northern Trust Corporation has a 12-month low of $104.09 and a 12-month high of $173.18. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.51. The stock's 50-day moving average price is $150.15 and its 200-day moving average price is $143.01. The stock has a market capitalization of $30.40 billion, a price-to-earnings ratio of 17.20, a price-to-earnings-growth ratio of 1.17 and a beta of 1.27.

Northern Trust (NASDAQ:NTRS - Get Free Report) last issued its earnings results on Tuesday, April 21st. The asset manager reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.37 by $0.34. Northern Trust had a return on equity of 15.94% and a net margin of 12.84%.The firm had revenue of $2.21 billion for the quarter, compared to analysts' expectations of $2.13 billion. During the same period in the previous year, the firm posted $1.90 earnings per share. The business's revenue was up 13.8% compared to the same quarter last year. Equities research analysts predict that Northern Trust Corporation will post 10.68 EPS for the current fiscal year.

Northern Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Friday, June 5th will be given a $0.80 dividend. The ex-dividend date is Friday, June 5th. This represents a $3.20 annualized dividend and a yield of 1.9%. Northern Trust's dividend payout ratio (DPR) is currently 33.51%.

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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