BI Asset Management Fondsmaeglerselskab A S Lowers Stake in Northern Trust Corporation $NTRS

Key Points

• BI Asset Management Fondsmaeglerselskab A S reduced its stake in Northern Trust Corporation by 27.3%, selling 3,203 shares, bringing its total holdings to 8,541 shares valued at $843,000.
• Northern Trust announced an increase in its quarterly dividend from $0.75 to $0.80, which will be paid on October 1st, highlighting a 2.5% dividend yield for shareholders.
• Analysts have mixed ratings on Northern Trust, with two buy ratings, eight hold ratings, and three sell ratings, alongside a consensus price target of $117.08.

BI Asset Management Fondsmaeglerselskab A S reduced its holdings in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 27.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,541 shares of the asset manager's stock after selling 3,203 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Northern Trust were worth $843,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of NTRS. Colonial Trust Co SC lifted its position in Northern Trust by 6,400.0% during the 4th quarter. Colonial Trust Co SC now owns 260 shares of the asset manager's stock valued at $27,000 after acquiring an additional 256 shares during the period. Continuum Advisory LLC lifted its position in Northern Trust by 5,340.0% during the 1st quarter. Continuum Advisory LLC now owns 272 shares of the asset manager's stock valued at $27,000 after acquiring an additional 267 shares during the period. Zions Bancorporation National Association UT purchased a new position in Northern Trust during the 1st quarter valued at about $29,000. Wayfinding Financial LLC purchased a new position in Northern Trust during the 1st quarter valued at about $35,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in Northern Trust during the 1st quarter valued at about $43,000. 83.19% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Northern Trust

In related news, Director Robert Edward Jr. Moritz purchased 256 shares of Northern Trust stock in a transaction dated Wednesday, August 13th. The stock was purchased at an average cost of $126.34 per share, for a total transaction of $32,343.04. Following the completion of the purchase, the director directly owned 2,525 shares of the company's stock, valued at $319,008.50. The trade was a 11.28% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.77% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

NTRS has been the subject of a number of analyst reports. Wells Fargo & Company raised their price objective on shares of Northern Trust from $111.00 to $120.00 and gave the company an "equal weight" rating in a research note on Thursday, July 24th. Wall Street Zen lowered shares of Northern Trust from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Royal Bank Of Canada set a $123.00 price objective on shares of Northern Trust and gave the company an "outperform" rating in a research note on Monday, June 30th. Evercore ISI raised their price objective on shares of Northern Trust from $108.00 to $121.00 and gave the company an "in-line" rating in a research note on Wednesday, July 2nd. Finally, Barclays raised their price objective on shares of Northern Trust from $128.00 to $136.00 and gave the company an "equal weight" rating in a research note on Thursday, July 24th. Two research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Reduce" and a consensus price target of $117.08.

Northern Trust Stock Performance

Shares of NTRS stock opened at $130.06 on Friday. The company has a 50 day moving average price of $125.33 and a 200-day moving average price of $109.80. Northern Trust Corporation has a 52 week low of $81.62 and a 52 week high of $133.00. The firm has a market capitalization of $24.87 billion, a PE ratio of 15.28, a P/E/G ratio of 1.51 and a beta of 1.28. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.58.

Northern Trust (NASDAQ:NTRS - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The asset manager reported $2.13 EPS for the quarter, topping analysts' consensus estimates of $2.08 by $0.05. Northern Trust had a net margin of 11.75% and a return on equity of 14.06%. The firm had revenue of $2 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same period in the previous year, the business posted $4.34 earnings per share. The business's revenue for the quarter was down 26.4% on a year-over-year basis. As a group, equities research analysts expect that Northern Trust Corporation will post 8.27 earnings per share for the current year.

Northern Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 5th will be paid a $0.80 dividend. This is a boost from Northern Trust's previous quarterly dividend of $0.75. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Friday, September 5th. Northern Trust's dividend payout ratio (DPR) is presently 37.60%.

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.

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