Forsta AP Fonden Has $7.62 Million Stake in Northern Trust Corporation $NTRS

Key Points

• Forsta AP Fonden increased its stake in Northern Trust by 33.8% in the fourth quarter, ending with 55,800 shares valued at about $7.62 million.
• Northern Trust reported better-than-expected quarterly earnings, posting $2.71 EPS versus the $2.37 estimate and revenue of $2.21 billion, up 13.8% from a year earlier.
• The company announced a quarterly dividend of $0.80 per share, payable July 1, representing an annualized yield of about 1.9%; analysts currently have a Hold consensus with a $164.08 price target.

Forsta AP Fonden boosted its position in Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 33.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 55,800 shares of the asset manager's stock after buying an additional 14,100 shares during the period. Forsta AP Fonden's holdings in Northern Trust were worth $7,622,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. New Age Alpha Advisors LLC raised its holdings in shares of Northern Trust by 4.9% in the 3rd quarter. New Age Alpha Advisors LLC now owns 1,659 shares of the asset manager's stock worth $223,000 after acquiring an additional 78 shares during the last quarter. Compound Planning Inc. grew its position in Northern Trust by 5.1% in the 3rd quarter. Compound Planning Inc. now owns 1,666 shares of the asset manager's stock worth $224,000 after purchasing an additional 81 shares in the last quarter. Apollon Wealth Management LLC grew its position in Northern Trust by 1.9% in the 4th quarter. Apollon Wealth Management LLC now owns 4,379 shares of the asset manager's stock worth $598,000 after purchasing an additional 81 shares in the last quarter. NorthRock Partners LLC grew its position in Northern Trust by 2.2% in the 3rd quarter. NorthRock Partners LLC now owns 3,812 shares of the asset manager's stock worth $513,000 after purchasing an additional 83 shares in the last quarter. Finally, HighPoint Advisor Group LLC grew its position in Northern Trust by 2.3% in the 3rd quarter. HighPoint Advisor Group LLC now owns 3,717 shares of the asset manager's stock worth $500,000 after purchasing an additional 84 shares in the last quarter. Institutional investors and hedge funds own 83.19% of the company's stock.

Northern Trust Stock Performance

Shares of NTRS stock opened at $168.34 on Tuesday. The stock has a market capitalization of $31.15 billion, a P/E ratio of 17.63, a PEG ratio of 1.18 and a beta of 1.25. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.51. The firm's 50 day moving average is $156.95 and its 200 day moving average is $146.28. Northern Trust Corporation has a 12 month low of $104.99 and a 12 month high of $173.18.

Northern Trust (NASDAQ:NTRS - Get Free Report) last posted its earnings results on Tuesday, April 21st. The asset manager reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.37 by $0.34. Northern Trust had a net margin of 12.84% and a return on equity of 15.94%. The business had revenue of $2.21 billion for the quarter, compared to analysts' expectations of $2.13 billion. During the same period in the prior year, the company posted $1.90 EPS. The business's revenue for the quarter was up 13.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Northern Trust Corporation will post 10.68 earnings per share for the current year.

Northern Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 5th will be paid a $0.80 dividend. The ex-dividend date is Friday, June 5th. This represents a $3.20 annualized dividend and a yield of 1.9%. Northern Trust's dividend payout ratio is currently 33.51%.

Insider Activity

In other news, insider Guy Gibson sold 3,009 shares of the firm's stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $142.39, for a total transaction of $428,451.51. Following the sale, the insider owned 29,332 shares in the company, valued at approximately $4,176,583.48. This trade represents a 9.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robert Edward Jr. Moritz acquired 225 shares of the stock in a transaction dated Friday, May 1st. The shares were bought at an average price of $166.41 per share, for a total transaction of $37,442.25. Following the transaction, the director owned 8,145 shares in the company, valued at approximately $1,355,409.45. This represents a 2.84% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders have sold 29,064 shares of company stock valued at $4,682,064. 0.66% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on NTRS shares. Royal Bank Of Canada upped their price objective on shares of Northern Trust from $159.00 to $178.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 22nd. Citigroup assumed coverage on shares of Northern Trust in a research report on Monday, February 23rd. They set a "neutral" rating for the company. Weiss Ratings raised shares of Northern Trust from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, May 4th. Wells Fargo & Company increased their target price on shares of Northern Trust from $150.00 to $175.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 22nd. Finally, The Goldman Sachs Group increased their target price on shares of Northern Trust from $151.00 to $169.00 and gave the company a "neutral" rating in a research report on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $164.08.

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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