Northern Trust Corporation (NASDAQ:NTRS) Shares Sold by Raiffeisen Bank International AG

Key Points

• Raiffeisen Bank International AG reduced its holdings in Northern Trust Corporation by 2.7%, now owning approximately 0.22% of the company, valued at $42.5 million.
• The stock has received a mix of ratings from analysts, with a consensus rating of "Hold" and an average price target of $116.58.
• Northern Trust recently increased its quarterly dividend to $0.80 per share, representing a 2.5% yield, reflecting a positive change from the previous dividend of $0.75.

Raiffeisen Bank International AG reduced its holdings in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 2.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 437,590 shares of the asset manager's stock after selling 12,062 shares during the period. Raiffeisen Bank International AG owned approximately 0.22% of Northern Trust worth $42,512,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in NTRS. Colonial Trust Co SC increased 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 valued at $27,000 after buying an additional 256 shares in the last quarter. Continuum Advisory LLC increased its holdings in shares of Northern Trust by 5,340.0% in the first 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 period. Wayfinding Financial LLC acquired a new position in shares of Northern Trust in the first quarter valued at about $35,000. Coppell Advisory Solutions LLC acquired a new position in shares of Northern Trust in the fourth quarter valued at about $44,000. Finally, True Wealth Design LLC increased its holdings in shares of Northern Trust by 84.0% in the fourth 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 period. 83.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on NTRS shares. Royal Bank Of Canada set a $123.00 price objective on Northern Trust and gave the company an "outperform" rating in a report on Monday, June 30th. Truist Financial increased their price objective on Northern Trust from $116.00 to $126.00 and gave the company a "hold" rating in a report on Thursday, July 3rd. The Goldman Sachs Group increased their price objective on Northern Trust from $89.00 to $101.00 and gave the company a "sell" rating in a report on Wednesday, July 2nd. Evercore ISI increased their price objective on Northern Trust from $108.00 to $121.00 and gave the company an "in-line" rating in a report on Wednesday, July 2nd. Finally, Keefe, Bruyette & Woods restated an "underperform" rating and issued a $118.00 target price (down previously from $120.00) on shares of Northern Trust in a research note on Thursday, July 24th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $116.58.

Northern Trust Trading Down 2.3%

NTRS opened at $127.06 on Friday. Northern Trust Corporation has a 12 month low of $80.81 and a 12 month high of $133.00. The stock has a market capitalization of $24.30 billion, a price-to-earnings ratio of 14.93, a PEG ratio of 1.69 and a beta of 1.28. 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 business has a fifty day moving average price of $119.53 and a 200 day moving average price of $108.04.

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

Northern Trust Increases Dividend

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

Insider Buying and Selling at Northern Trust

In other Northern Trust news, EVP Clive Bellows sold 3,300 shares of Northern Trust stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $99.95, for a total transaction 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 $2,872,163.20. The trade was a 10.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Teresa Parker sold 6,467 shares of Northern Trust stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $100.62, for a total value 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 trade represents a 7.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,772 shares of company stock valued at $981,069 over the last three months. 0.77% of the stock is currently owned by insiders.

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.

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