Handelsbanken Fonder AB Has $11.15 Million Stake in Northern Trust Corporation $NTRS

Key Points

• Handelsbanken Fonder AB increased its Northern Trust stake by 66.3% in the fourth quarter, ending with 81,638 shares worth about $11.15 million.
• Northern Trust beat earnings expectations for the latest quarter, reporting $2.71 EPS versus $2.37 expected, with revenue of $2.21 billion, up 13.8% year over year.
• The company declared a quarterly dividend of $0.80 per share payable July 1, while analysts’ consensus rating remains Hold with a target price of $164.08.

Handelsbanken Fonder AB boosted its stake in Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 66.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 81,638 shares of the asset manager's stock after purchasing an additional 32,557 shares during the period. Handelsbanken Fonder AB's holdings in Northern Trust were worth $11,151,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of NTRS. Triumph Capital Management acquired a new stake in Northern Trust in the third quarter valued at $25,000. Board of the Pension Protection Fund acquired a new stake in Northern Trust in the fourth quarter valued at $27,000. Elyxium Wealth LLC acquired a new stake in Northern Trust in the fourth quarter valued at $34,000. International Assets Investment Management LLC acquired a new stake in Northern Trust in the fourth quarter valued at $35,000. Finally, Olistico Wealth LLC acquired a new stake in Northern Trust in the fourth quarter valued at $41,000. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have weighed in on NTRS shares. The Goldman Sachs Group increased their price target on Northern Trust from $151.00 to $169.00 and gave the stock a "neutral" rating in a report on Wednesday, April 22nd. Weiss Ratings upgraded Northern Trust from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, May 4th. JPMorgan Chase & Co. increased their price target on Northern Trust from $153.50 to $170.00 and gave the stock a "neutral" rating in a report on Monday, May 11th. Morgan Stanley increased their price target on Northern Trust from $131.00 to $140.00 and gave the stock an "underweight" rating in a report on Friday, January 23rd. Finally, TD Cowen increased their price target on Northern Trust from $165.00 to $175.00 and gave the stock a "buy" rating in a report on Monday, January 26th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $164.08.

Northern Trust Stock Performance

Shares of Northern Trust stock opened at $167.11 on Friday. 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 business has a 50-day moving average price of $152.62 and a two-hundred day moving average price of $144.35. Northern Trust Corporation has a 1-year low of $104.09 and a 1-year high of $173.18. The company has a market cap of $30.92 billion, a P/E ratio of 17.50, a PEG ratio of 1.19 and a beta of 1.27.

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

Northern Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 5th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, June 5th. Northern Trust's dividend payout ratio is 33.51%.

Insider Activity at Northern Trust

In other news, insider Clive Bellows sold 2,800 shares of the stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $165.02, for a total transaction of $462,056.00. Following the transaction, the insider owned 28,217 shares of the company's stock, valued at $4,656,369.34. This represents a 9.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Robert Edward Jr. Moritz acquired 225 shares of the business's stock in a transaction dated Friday, May 1st. The shares were bought at an average cost of $166.41 per share, for a total transaction of $37,442.25. Following the transaction, the director directly owned 8,145 shares in the company, valued at approximately $1,355,409.45. This represents a 2.84% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold 30,514 shares of company stock worth $4,890,937 over the last quarter. Company insiders own 0.66% of the company's stock.

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.

Want to see what other hedge funds are holding NTRS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Northern Trust Corporation (NASDAQ:NTRS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.