Danske Bank A S bought a new position in Northern Trust Corporation (NASDAQ:NTRS - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The fund bought 171,585 shares of the asset manager's stock, valued at approximately $29,828,000. Danske Bank A S owned 0.09% of Northern Trust at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in NTRS. Empowered Funds LLC boosted its stake in shares of Northern Trust by 13.3% in the 1st quarter. Empowered Funds LLC now owns 20,112 shares of the asset manager's stock worth $1,984,000 after buying an additional 2,363 shares during the last quarter. Woodline Partners LP increased its position in Northern Trust by 39.1% during the first quarter. Woodline Partners LP now owns 16,557 shares of the asset manager's stock valued at $1,633,000 after acquiring an additional 4,653 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Northern Trust by 79.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,350 shares of the asset manager's stock valued at $171,000 after acquiring an additional 596 shares during the period. WINTON GROUP Ltd purchased a new position in Northern Trust in the second quarter worth about $267,000. Finally, Daiwa Securities Group Inc. boosted its position in Northern Trust by 4.6% in the second quarter. Daiwa Securities Group Inc. now owns 29,290 shares of the asset manager's stock worth $3,714,000 after purchasing an additional 1,275 shares during the last quarter. 83.19% of the stock is currently owned by hedge funds and other institutional investors.
Northern Trust Stock Performance
NASDAQ:NTRS opened at $185.40 on Thursday. The stock's 50 day simple moving average is $181.09 and its two-hundred day simple moving average is $162.89. Northern Trust Corporation has a 1 year low of $121.12 and a 1 year high of $195.78. The company has a market cap of $33.92 billion, a price-to-earnings ratio of 15.91, a PEG ratio of 1.07 and a beta of 1.25. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.65 and a quick ratio of 0.65.
Northern Trust (NASDAQ:NTRS - Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The asset manager reported $4.23 EPS for the quarter, beating the consensus estimate of $2.71 by $1.52. Northern Trust had a net margin of 14.76% and a return on equity of 16.91%. The business had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.69 billion. During the same quarter last year, the business earned $2.13 earnings per share. Northern Trust's quarterly revenue was up 35.1% compared to the same quarter last year. As a group, equities analysts anticipate that Northern Trust Corporation will post 11.59 earnings per share for the current fiscal year.
Northern Trust Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 4th will be paid a dividend of $0.88 per share. The ex-dividend date of this dividend is Friday, September 4th. This is a positive change from Northern Trust's previous quarterly dividend of $0.80. This represents a $3.52 annualized dividend and a yield of 1.9%. Northern Trust's payout ratio is presently 27.47%.
Analysts Set New Price Targets
NTRS has been the subject of several research reports. Barclays upped their price target on shares of Northern Trust from $176.00 to $189.00 and gave the company an "equal weight" rating in a research report on Thursday, July 23rd. The Goldman Sachs Group raised their price objective on shares of Northern Trust from $151.00 to $169.00 and gave the stock a "neutral" rating in a report on Wednesday, April 22nd. Evercore set a $179.00 target price on shares of Northern Trust in a research report on Monday, July 6th. Wells Fargo & Company upped their target price on shares of Northern Trust from $189.00 to $194.00 and gave the company an "equal weight" rating in a report on Thursday, July 23rd. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Northern Trust in a report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Northern Trust has a consensus rating of "Hold" and an average target price of $180.68.
Read Our Latest Analysis on Northern Trust
Insider Activity at Northern Trust
In other news, Director Robert Edward Jr. Moritz purchased 255 shares of the business's stock in a transaction that occurred on Wednesday, July 29th. The shares were bought at an average cost of $179.57 per share, for a total transaction of $45,790.35. Following the acquisition, the director owned 8,400 shares of the company's stock, valued at approximately $1,508,388. This trade represents a 3.13% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.66% of the company's stock.
Northern Trust Profile
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Free Report)
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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