Northern Trust Corporation $NTRS Shares Bought by KLP Kapitalforvaltning AS

Key Points

• KLP Kapitalforvaltning AS increased its holdings in Northern Trust Corporation by 4.9%, now owning 70,809 shares worth approximately $9 million.
• Northern Trust recently declared a quarterly dividend of $0.80 per share, up from the previous $0.75, indicating a positive change in their payout strategy.
• The company reported earnings per share of $2.13 for the last quarter, surpassing estimates and showing a net margin of 11.75%, despite a year-over-year revenue decline.

KLP Kapitalforvaltning AS raised its position in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 4.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,809 shares of the asset manager's stock after acquiring an additional 3,300 shares during the quarter. KLP Kapitalforvaltning AS's holdings in Northern Trust were worth $9,023,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Continuum Advisory LLC boosted its stake in Northern Trust by 5,340.0% during the 1st quarter. Continuum Advisory LLC now owns 272 shares of the asset manager's stock worth $27,000 after purchasing an additional 267 shares during the last quarter. Zions Bancorporation National Association UT purchased a new position in shares of Northern Trust in the first quarter worth about $29,000. Harbor Investment Advisory LLC boosted its position in Northern Trust by 68.4% during the second quarter. Harbor Investment Advisory LLC now owns 320 shares of the asset manager's stock worth $41,000 after acquiring an additional 130 shares during the last quarter. Wayfinding Financial LLC purchased a new stake in Northern Trust during the 1st quarter valued at about $35,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in Northern Trust in the 1st quarter valued at about $43,000. 83.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Northern Trust

In other news, Director Robert Edward Jr. Moritz acquired 256 shares of the company's stock in a transaction dated Wednesday, August 13th. The stock was acquired at an average cost of $126.34 per share, with a total value of $32,343.04. Following the completion of the purchase, the director owned 2,525 shares of the company's stock, valued at $319,008.50. This represents a 11.28% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 0.77% of the stock is currently owned by corporate insiders.

Northern Trust Trading Down 0.6%

NASDAQ NTRS opened at $129.99 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.72 and a quick ratio of 0.72. The stock has a market capitalization of $24.86 billion, a P/E ratio of 15.27, a PEG ratio of 1.46 and a beta of 1.31. The firm's 50-day moving average is $129.51 and its two-hundred day moving average is $115.46. Northern Trust Corporation has a 12 month low of $81.62 and a 12 month high of $135.48.

Northern Trust (NASDAQ:NTRS - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The asset manager reported $2.13 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $1.96 billion. During the same period in the previous year, the firm earned $4.34 EPS. The business's revenue was down 26.4% on a year-over-year basis. On average, sell-side analysts anticipate that Northern Trust Corporation will post 8.27 earnings per share for the current year.

Northern Trust Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Friday, September 5th were paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 2.5%. This is a positive change from Northern Trust's previous quarterly dividend of $0.75. The ex-dividend date was Friday, September 5th. Northern Trust's payout ratio is currently 37.60%.

Analyst Ratings Changes

Several research analysts have recently weighed in on NTRS shares. Wells Fargo & Company boosted their target price on Northern Trust from $120.00 to $127.00 and gave the stock an "equal weight" rating in a report on Friday, October 3rd. Wolfe Research upgraded Northern Trust from an "underperform" rating to a "peer perform" rating in a report on Thursday, July 24th. TD Cowen began coverage on Northern Trust in a report on Thursday, September 25th. They set a "buy" rating on the stock. Citigroup boosted their price target on shares of Northern Trust from $110.00 to $135.00 and gave the company a "neutral" rating in a research report on Friday, September 5th. Finally, Barclays upped their price objective on shares of Northern Trust from $128.00 to $136.00 and gave the company an "equal weight" rating in a report on Thursday, July 24th. Four analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $128.23.

About Northern Trust

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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