Northern Trust Corporation $NTRS Shares Sold by Fjarde AP Fonden Fourth Swedish National Pension Fund

Key Points

• Fjarde AP Fonden Fourth Swedish National Pension Fund decreased its holdings in Northern Trust Corporation by 50.7%, now owning 20,645 shares valued at approximately $2,037,000.
• Wells Fargo raised the price target on Northern Trust from $111 to $120, indicating a positive outlook, while analysts issued a mix of ratings including two Buy, eight Hold, and three Sell ratings.
• Northern Trust has declared a quarterly dividend increase to $0.80 per share, marking a rise from its previous dividend of $0.75, with a current yield of 2.5%.

Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its holdings in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 50.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 20,645 shares of the asset manager's stock after selling 21,200 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Northern Trust were worth $2,037,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Colonial Trust Co SC grew 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 worth $27,000 after purchasing an additional 256 shares during the last quarter. Continuum Advisory LLC grew its stake in shares of Northern Trust by 5,340.0% in the 1st quarter. Continuum Advisory LLC now owns 272 shares of the asset manager's stock valued at $27,000 after purchasing an additional 267 shares during the last quarter. Zions Bancorporation National Association UT purchased a new position in shares of Northern Trust in the 1st quarter valued at approximately $29,000. Wayfinding Financial LLC purchased a new position in shares of Northern Trust in the 1st quarter valued at approximately $35,000. Finally, True Wealth Design LLC grew its stake in shares of Northern Trust by 84.0% in the 4th quarter. True Wealth Design LLC now owns 425 shares of the asset manager's stock valued at $44,000 after purchasing an additional 194 shares during the last quarter. 83.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Evercore ISI lifted their target price on Northern Trust from $108.00 to $121.00 and gave the company an "in-line" rating in a research note on Wednesday, July 2nd. Wall Street Zen downgraded Northern Trust from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Wells Fargo & Company lifted their target price on Northern Trust from $111.00 to $120.00 and gave the company an "equal weight" rating in a research note on Thursday, July 24th. Wolfe Research upgraded Northern Trust from an "underperform" rating to a "peer perform" rating in a research note on Thursday, July 24th. Finally, Keefe, Bruyette & Woods reiterated an "underperform" rating and issued a $118.00 target price (down from $120.00) on shares of Northern Trust in a research note on Thursday, July 24th. Two research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Reduce" and an average price target of $117.08.

Insider Transactions at Northern Trust

In other news, Director Robert Edward Jr. Moritz acquired 256 shares of Northern Trust stock in a transaction that occurred on Wednesday, August 13th. The stock was purchased at an average cost of $126.34 per share, with a total value of $32,343.04. Following the completion of the acquisition, the director owned 2,525 shares in the company, valued at $319,008.50. This trade represents a 11.28% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.77% of the company's stock.

Northern Trust Price Performance

Shares of NTRS traded down $0.57 during mid-day trading on Thursday, hitting $127.31. The company's stock had a trading volume of 709,887 shares, compared to its average volume of 1,584,483. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.58. The firm has a 50-day simple moving average of $124.51 and a 200 day simple moving average of $109.56. The firm has a market capitalization of $24.35 billion, a P/E ratio of 14.96, a P/E/G ratio of 1.51 and a beta of 1.28. Northern Trust Corporation has a 1-year low of $81.62 and a 1-year high of $133.00.

Northern Trust (NASDAQ:NTRS - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The asset manager reported $2.13 EPS for the quarter, beating the consensus estimate of $2.08 by $0.05. The business had revenue of $2 billion during the quarter, compared to analysts' expectations of $1.96 billion. Northern Trust had a return on equity of 14.06% and a net margin of 11.75%.The company's quarterly revenue was down 26.4% compared to the same quarter last year. During the same period last year, the firm earned $4.34 EPS. Analysts predict that Northern Trust Corporation will post 8.27 EPS for the current fiscal year.

Northern Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 5th will be issued a dividend of $0.80 per share. This is a boost from Northern Trust's previous quarterly dividend of $0.75. This represents a $3.20 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Friday, September 5th. Northern Trust's payout ratio is presently 35.25%.

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.