Danske Bank A S Makes New Investment in Northern Trust Corporation $NTRS

Key Points

• Danske Bank A/S purchased 127,930 shares of Northern Trust in the second quarter, valued at approximately $22.2 million. Institutional investors collectively own 83.19% of the company.
• Northern Trust reported strong quarterly results, with $4.23 in earnings per share and $2.71 billion in revenue, up 35.1% year over year and ahead of analyst expectations.
• The company raised its quarterly dividend from $0.80 to $0.88 per share, representing an annualized dividend of $3.52 and a 1.9% yield. Analysts maintain a consensus “Hold” rating with an average price target of $180.68.

Danske Bank A S bought a new stake in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 127,930 shares of the asset manager's stock, valued at approximately $22,239,000. Danske Bank A S owned approximately 0.07% of Northern Trust at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Reflection Asset Management purchased a new stake in shares of Northern Trust in the fourth quarter worth approximately $25,000. Triumph Capital Management purchased a new position in Northern Trust during the third quarter valued at approximately $25,000. Basecamp Wealth Advisors LLC increased its stake in Northern Trust by 99.0% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 203 shares of the asset manager's stock valued at $28,000 after buying an additional 101 shares during the period. Elyxium Wealth LLC acquired a new position in Northern Trust in the 4th quarter valued at approximately $34,000. Finally, International Assets Investment Management LLC purchased a new stake in Northern Trust in the 4th quarter worth approximately $35,000. Institutional investors and hedge funds own 83.19% of the company's stock.

Insider Activity

In other news, Director Robert Edward Jr. Moritz bought 255 shares of the stock in a transaction that occurred on Wednesday, July 29th. The shares were acquired at an average cost of $179.57 per share, for a total transaction of $45,790.35. Following the purchase, the director owned 8,400 shares of the company's stock, valued at $1,508,388. This represents a 3.13% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.66% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NTRS. JPMorgan Chase & Co. lifted their target price on shares of Northern Trust from $179.50 to $185.50 and gave the company a "neutral" rating in a research note on Tuesday, August 4th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Northern Trust in a research note on Friday, July 31st. Citigroup increased their price objective on Northern Trust from $162.00 to $172.00 and gave the stock a "neutral" rating in a report on Tuesday, June 30th. Barclays lifted their price objective on Northern Trust from $176.00 to $189.00 and gave the company an "equal weight" rating in a research report on Thursday, July 23rd. Finally, Truist Financial boosted their target price on Northern Trust from $176.00 to $186.00 and gave the company a "hold" rating in a research note on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $180.68.

Northern Trust Stock Down 1.6%

Shares of NTRS stock opened at $182.51 on Friday. The stock's 50 day simple moving average is $181.32 and its 200 day simple moving average is $163.13. Northern Trust Corporation has a twelve month low of $121.12 and a twelve month high of $195.78. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.65 and a current ratio of 0.65. The company has a market capitalization of $33.39 billion, a price-to-earnings ratio of 15.67, a PEG ratio of 1.04 and a beta of 1.25.

Northern Trust (NASDAQ:NTRS - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The asset manager reported $4.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.71 by $1.52. Northern Trust had a return on equity of 16.91% and a net margin of 14.76%.The firm had revenue of $2.71 billion during the quarter, compared to analysts' expectations of $2.69 billion. During the same quarter in the prior year, the business earned $2.13 earnings per share. The company's revenue was up 35.1% on a year-over-year basis. As a group, research analysts predict that Northern Trust Corporation will post 11.59 EPS for the current year.

Northern Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 4th will be issued a dividend of $0.88 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $3.52 annualized dividend and a dividend yield of 1.9%. This is an increase from Northern Trust's previous quarterly dividend of $0.80. Northern Trust's payout ratio is currently 27.47%.

About Northern Trust

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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