Northern Trust Corporation $NTRS Shares Sold by ASR Vermogensbeheer N.V.

Key Points

• ASR Vermogensbeheer N.V. reduced its holdings in Northern Trust Corporation by 6.8% in Q2 2023, decreasing its position to 46,396 shares after selling 3,395 shares.
• Multiple analysts have raised their target prices for Northern Trust, with Goldman Sachs setting a new target at $135.00, reflecting increased confidence in the stock.
• Northern Trust recently announced a quarterly dividend increase to $0.80 per share, with a payout ratio of 37.60%, signaling strong cash flow management by the company.

ASR Vermogensbeheer N.V. decreased its position in Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 6.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,396 shares of the asset manager's stock after selling 3,395 shares during the period. ASR Vermogensbeheer N.V.'s holdings in Northern Trust were worth $5,883,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Continuum Advisory LLC increased its stake in Northern Trust by 5,340.0% during the first quarter. Continuum Advisory LLC now owns 272 shares of the asset manager's stock worth $27,000 after acquiring an additional 267 shares during the last quarter. Zions Bancorporation National Association UT purchased a new position in shares of Northern Trust during the 1st quarter worth $29,000. Harbor Investment Advisory LLC grew its holdings in shares of Northern Trust by 68.4% during the 2nd quarter. Harbor Investment Advisory LLC now owns 320 shares of the asset manager's stock worth $41,000 after purchasing an additional 130 shares during the period. Wayfinding Financial LLC acquired a new stake in shares of Northern Trust during the 1st quarter worth about $35,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in Northern Trust in the 1st quarter valued at about $43,000. Hedge funds and other institutional investors own 83.19% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on NTRS shares. The Goldman Sachs Group set a $135.00 target price on shares of Northern Trust in a research note on Tuesday. Citigroup increased their price objective on shares of Northern Trust from $110.00 to $135.00 and gave the stock a "neutral" rating in a research report on Friday, September 5th. Wells Fargo & Company boosted their target price on Northern Trust from $120.00 to $127.00 and gave the company an "equal weight" rating in a research report on Friday. Royal Bank Of Canada set a $123.00 target price on shares of Northern Trust and gave the stock an "outperform" rating in a research note on Monday, June 30th. Finally, Barclays raised their price target on shares of Northern Trust from $128.00 to $136.00 and gave the company an "equal weight" rating in a research report on Thursday, July 24th. Four equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $128.23.

Northern Trust Price Performance

Shares of NASDAQ:NTRS opened at $132.40 on Friday. Northern Trust Corporation has a 12 month low of $81.62 and a 12 month high of $135.48. The firm has a market capitalization of $25.32 billion, a P/E ratio of 15.56, a P/E/G ratio of 1.58 and a beta of 1.31. 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 company's fifty day moving average price is $129.46 and its 200 day moving average price is $114.59.

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

Northern Trust Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Friday, September 5th were given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.4%. This is a boost from Northern Trust's previous quarterly dividend of $0.75. The ex-dividend date was Friday, September 5th. Northern Trust's payout ratio is 37.60%.

Insiders Place Their Bets

In related news, Director Robert Edward Jr. Moritz purchased 256 shares of the stock in a transaction that occurred on Wednesday, August 13th. The shares were purchased at an average price of $126.34 per share, with a total value of $32,343.04. Following the completion of the acquisition, the director directly owned 2,525 shares in the company, valued at $319,008.50. This represents a 11.28% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.77% of the stock is currently owned by corporate 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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