Northern Trust Corporation (NASDAQ:NTRS) Shares Sold by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS lessened its stake in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 6.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 67,509 shares of the asset manager's stock after selling 4,600 shares during the quarter. KLP Kapitalforvaltning AS's holdings in Northern Trust were worth $6,703,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ellevest Inc. lifted its position in Northern Trust by 3.4% during the 4th quarter. Ellevest Inc. now owns 3,410 shares of the asset manager's stock worth $350,000 after acquiring an additional 113 shares during the period. Amalgamated Bank lifted its position in Northern Trust by 0.5% during the 1st quarter. Amalgamated Bank now owns 38,065 shares of the asset manager's stock worth $3,755,000 after acquiring an additional 172 shares during the period. Fifth Third Bancorp lifted its position in Northern Trust by 1.7% during the 1st quarter. Fifth Third Bancorp now owns 10,876 shares of the asset manager's stock worth $1,073,000 after acquiring an additional 179 shares during the period. Parallel Advisors LLC lifted its position in Northern Trust by 11.4% during the 1st quarter. Parallel Advisors LLC now owns 1,773 shares of the asset manager's stock worth $175,000 after acquiring an additional 182 shares during the period. Finally, True Wealth Design LLC lifted its position in Northern Trust by 84.0% during the 4th quarter. True Wealth Design LLC now owns 425 shares of the asset manager's stock worth $44,000 after acquiring an additional 194 shares during the period. Institutional investors own 83.19% of the company's stock.

Insider Activity at Northern Trust

In other Northern Trust news, EVP Clive Bellows sold 3,300 shares of Northern Trust stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $99.95, for a total value of $329,835.00. Following the completion of the sale, the executive vice president directly owned 28,736 shares of the company's stock, valued at approximately $2,872,163.20. The trade was a 10.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Teresa Parker sold 6,467 shares of the business's stock in a transaction on Friday, May 9th. The shares were sold at an average price of $100.62, for a total transaction of $650,709.54. Following the sale, the insider directly owned 79,391 shares of the company's stock, valued at $7,988,322.42. This represents a 7.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,772 shares of company stock valued at $981,069 over the last ninety days. 0.77% of the stock is owned by corporate insiders.

Northern Trust Price Performance

Shares of NTRS stock traded down $0.39 during midday trading on Monday, reaching $129.65. 172,455 shares of the company traded hands, compared to its average volume of 1,645,614. The firm's 50 day simple moving average is $117.19 and its two-hundred day simple moving average is $107.10. Northern Trust Corporation has a 1-year low of $80.81 and a 1-year high of $133.00. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.72 and a quick ratio of 0.71. The firm has a market cap of $25.22 billion, a PE ratio of 15.24, a price-to-earnings-growth ratio of 1.73 and a beta of 1.26.

Northern Trust (NASDAQ:NTRS - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The asset manager reported $2.13 earnings per share for the quarter, topping analysts' consensus estimates of $2.08 by $0.05. Northern Trust had a net margin of 11.75% and a return on equity of 14.06%. The business had revenue of $2 billion during the quarter, compared to analysts' expectations of $1.96 billion. During the same period last year, the company posted $4.34 EPS. The company's revenue was down 26.4% on a year-over-year basis. On average, equities research analysts expect that Northern Trust Corporation will post 8.27 EPS for the current fiscal year.

Northern Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 5th will be paid a $0.80 dividend. 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 2.47%. The ex-dividend date is Friday, September 5th. Northern Trust's payout ratio is presently 35.25%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on NTRS shares. Wells Fargo & Company boosted their price objective on Northern Trust from $111.00 to $120.00 and gave the company an "equal weight" rating in a report on Thursday. The Goldman Sachs Group upped their price target on Northern Trust from $89.00 to $101.00 and gave the stock a "sell" rating in a report on Wednesday, July 2nd. Truist Financial upped their price target on Northern Trust from $116.00 to $126.00 and gave the stock a "hold" rating in a report on Thursday, July 3rd. Morgan Stanley upped their price target on Northern Trust from $103.00 to $106.00 and gave the stock an "underweight" rating in a report on Tuesday, July 1st. Finally, Wolfe Research raised Northern Trust from an "underperform" rating to a "peer perform" rating in a report on Thursday. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $116.58.

Northern Trust Company 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.