Mn Services Vermogensbeheer B.V. Sells 3,300 Shares of Northern Trust Corporation $NTRS

Key Points

• Mn Services Vermogensbeheer B.V. has reduced its stake in Northern Trust Corporation by 4.4%, now holding 71,998 shares valued at approximately $9.13 million.
• Several institutional investors, including Massachusetts Financial Services and Invesco, have increased their positions in Northern Trust, indicating ongoing interest from large financial groups.
• Northern Trust recently declared a quarterly dividend increase to $0.80 per share, up from $0.75, reflecting a commitment to returning value to shareholders.

Mn Services Vermogensbeheer B.V. lowered its position in Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 4.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,998 shares of the asset manager's stock after selling 3,300 shares during the quarter. Mn Services Vermogensbeheer B.V.'s holdings in Northern Trust were worth $9,129,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its position in Northern Trust by 47.8% during the first quarter. Bank of New York Mellon Corp now owns 1,810,816 shares of the asset manager's stock worth $178,637,000 after purchasing an additional 585,992 shares during the period. Invesco Ltd. grew its stake in shares of Northern Trust by 19.3% in the first quarter. Invesco Ltd. now owns 3,443,599 shares of the asset manager's stock worth $339,711,000 after acquiring an additional 558,287 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Northern Trust by 10,340.5% during the 1st quarter. GAMMA Investing LLC now owns 445,602 shares of the asset manager's stock worth $43,959,000 after purchasing an additional 441,334 shares during the period. RNC Capital Management LLC acquired a new position in shares of Northern Trust during the first quarter valued at about $41,905,000. Finally, Nuveen LLC bought a new stake in shares of Northern Trust in the first quarter valued at about $41,834,000. 83.19% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Northern Trust news, Director Robert Edward Jr. Moritz bought 256 shares of the stock in a transaction dated Wednesday, August 13th. The shares were bought at an average cost of $126.34 per share, for a total transaction of $32,343.04. Following the purchase, the director directly owned 2,525 shares of the company's stock, valued at approximately $319,008.50. This trade represents a 11.28% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.77% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

NTRS has been the topic of several analyst reports. The Goldman Sachs Group upped their target price on shares of Northern Trust from $89.00 to $101.00 and gave the stock a "sell" rating in a report on Wednesday, July 2nd. Morgan Stanley raised their price objective on Northern Trust from $103.00 to $106.00 and gave the stock an "underweight" rating in a research note on Tuesday, July 1st. Truist Financial lifted their price target on shares of Northern Trust from $128.00 to $132.00 and gave the company a "hold" rating in a research note on Thursday, August 14th. Royal Bank Of Canada set a $123.00 price objective on shares of Northern Trust and gave the company an "outperform" rating in a research report on Monday, June 30th. Finally, Wells Fargo & Company upped their target price on Northern Trust from $111.00 to $120.00 and gave the company an "equal weight" rating in a research report on Thursday, July 24th. Two investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Northern Trust has an average rating of "Reduce" and a consensus price target of $119.58.

Northern Trust Stock Up 0.5%

Shares of NASDAQ:NTRS traded up $0.70 during mid-day trading on Tuesday, hitting $132.48. 112,312 shares of the company traded hands, compared to its average volume of 1,524,573. The stock has a market cap of $25.33 billion, a P/E ratio of 15.57, a P/E/G ratio of 1.56 and a beta of 1.30. The stock has a 50-day moving average price of $128.43 and a two-hundred day moving average price of $112.68. Northern Trust Corporation has a 12-month low of $81.62 and a 12-month high of $133.70. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.58.

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

Northern Trust Increases Dividend

The firm also recently disclosed 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. The ex-dividend date is Friday, September 5th. This represents a $3.20 dividend on an annualized basis and a yield of 2.4%. Northern Trust's dividend payout ratio is currently 37.60%.

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.