Assenagon Asset Management S.A. Has $483,000 Stock Holdings in Northern Trust Corporation $NTRS

Key Points

• Assenagon Asset Management cut its Northern Trust stake by 87.6% in the first quarter, selling 24,479 shares and leaving it with 3,458 shares valued at about $483,000.
• Northern Trust posted better-than-expected earnings for the latest quarter, reporting $2.71 EPS on revenue of $2.21 billion, while analysts now see full-year EPS of 11.21.
• The stock has attracted a mixed-but-improving analyst outlook, with several firms raising price targets; MarketBeat shows a consensus rating of Hold and an average target of $170.69.

Assenagon Asset Management S.A. decreased its holdings in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 87.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,458 shares of the asset manager's stock after selling 24,479 shares during the period. Assenagon Asset Management S.A.'s holdings in Northern Trust were worth $483,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in NTRS. Cidel Asset Management Inc. bought a new stake in Northern Trust in the first quarter worth approximately $203,000. Krilogy Financial LLC grew its position in shares of Northern Trust by 12.0% during the 1st quarter. Krilogy Financial LLC now owns 6,518 shares of the asset manager's stock worth $910,000 after buying an additional 696 shares during the period. Signal Advisors Wealth LLC increased its stake in shares of Northern Trust by 646.5% in the 1st quarter. Signal Advisors Wealth LLC now owns 11,377 shares of the asset manager's stock valued at $1,588,000 after acquiring an additional 9,853 shares in the last quarter. Evolve Private Wealth LLC increased its stake in shares of Northern Trust by 8.6% in the 1st quarter. Evolve Private Wealth LLC now owns 4,206 shares of the asset manager's stock valued at $587,000 after acquiring an additional 334 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S lifted its position in shares of Northern Trust by 23.9% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 15,419 shares of the asset manager's stock valued at $2,152,000 after acquiring an additional 2,974 shares during the period. Institutional investors and hedge funds own 83.19% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on NTRS shares. JPMorgan Chase & Co. raised their target price on Northern Trust from $153.50 to $170.00 and gave the company a "neutral" rating in a research note on Monday, May 11th. BMO Capital Markets raised Northern Trust from a "market perform" rating to an "outperform" rating and set a $168.00 price target on the stock in a research note on Monday, April 6th. Barclays increased their price target on Northern Trust from $160.00 to $176.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 22nd. Zacks Research raised Northern Trust from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 12th. Finally, Truist Financial boosted their price objective on Northern Trust from $176.00 to $186.00 and gave the company a "hold" rating in a report on Friday, June 26th. 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 issued a Sell rating to the company. According to data from MarketBeat, Northern Trust presently has an average rating of "Hold" and a consensus price target of $170.69.

Northern Trust Stock Performance

NTRS stock opened at $176.50 on Friday. The firm has a market cap of $32.66 billion, a PE ratio of 18.48, a P/E/G ratio of 1.20 and a beta of 1.25. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.51. The business has a 50 day moving average of $168.93 and a 200-day moving average of $153.24. Northern Trust Corporation has a 12-month low of $118.99 and a 12-month high of $178.70.

Northern Trust (NASDAQ:NTRS - Get Free Report) last released its earnings results on Tuesday, April 21st. The asset manager reported $2.71 EPS for the quarter, topping analysts' consensus estimates of $2.37 by $0.34. The company had revenue of $2.21 billion for the quarter, compared to analysts' expectations of $2.13 billion. Northern Trust had a return on equity of 15.94% and a net margin of 12.84%.The business's revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.90 EPS. As a group, sell-side analysts expect that Northern Trust Corporation will post 11.21 earnings per share for the current year.

Northern Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Friday, June 5th were paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Friday, June 5th. Northern Trust's payout ratio is presently 33.51%.

Insider Buying and Selling at Northern Trust

In related news, 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 sale, the chief financial officer owned 18,588 shares of the company's stock, valued at approximately $3,088,582.08. This trade represents a 51.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Clive Bellows sold 2,800 shares of the business's stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $165.02, for a total value of $462,056.00. Following the completion of the sale, the insider owned 28,217 shares in the company, valued at $4,656,369.34. This represents a 9.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 22,800 shares of company stock worth $3,785,251 over the last three months. 0.66% of the stock is currently owned by insiders.

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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