Northern Trust Corporation $NTRS Shares Sold by Handelsbanken Fonder AB

Key Points

• Handelsbanken Fonder AB cut its Northern Trust stake by 57.2% in the second quarter, selling 41,919 shares and retaining 31,381 shares worth approximately $5.46 million. Institutional investors and hedge funds collectively own 83.19% of the company.
• Northern Trust shares opened at $191.41, near their 12-month high of $195.78, while the company raised its quarterly dividend to $0.88 per share, representing a 1.8% yield.
• Analyst sentiment remains mixed, with a consensus rating of “Hold” and an average price target of $180.68; one director also purchased 255 shares in July.

Handelsbanken Fonder AB decreased its holdings in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 57.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,381 shares of the asset manager's stock after selling 41,919 shares during the quarter. Handelsbanken Fonder AB's holdings in Northern Trust were worth $5,455,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Reflection Asset Management acquired a new position in Northern Trust during the 4th quarter worth approximately $25,000. Triumph Capital Management purchased a new stake in shares of Northern Trust in the third quarter valued at about $25,000. Basecamp Wealth Advisors LLC grew its holdings in Northern Trust by 99.0% during the first quarter. Basecamp Wealth Advisors LLC now owns 203 shares of the asset manager's stock worth $28,000 after acquiring an additional 101 shares during the period. Elyxium Wealth LLC acquired a new stake in shares of Northern Trust during the 4th quarter valued at approximately $34,000. Finally, International Assets Investment Management LLC purchased a new stake in shares of Northern Trust in the 4th quarter worth about $35,000. 83.19% of the stock is owned by institutional investors and hedge funds.

Northern Trust Trading Up 0.5%

Shares of NTRS opened at $191.41 on Friday. The stock's fifty day simple moving average is $179.86 and its 200-day simple moving average is $161.99. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.43. Northern Trust Corporation has a 12-month low of $121.12 and a 12-month high of $195.78. The firm has a market capitalization of $35.02 billion, a PE ratio of 16.43, a price-to-earnings-growth ratio of 1.07 and a beta of 1.25.

Northern Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 4th will be paid a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.8%. The ex-dividend date is Friday, September 4th. This is an increase from Northern Trust's previous quarterly dividend of $0.80. Northern Trust's dividend payout ratio (DPR) is presently 27.47%.

Insider Buying and Selling at Northern Trust

In other Northern Trust news, Director Robert Edward Jr. Moritz purchased 255 shares of the stock in a transaction on Wednesday, July 29th. The shares were purchased at an average price of $179.57 per share, with a total value of $45,790.35. Following the completion of the transaction, the director directly owned 8,400 shares in the company, valued at $1,508,388. This represents a 3.13% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.66% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Royal Bank Of Canada cut Northern Trust from an "outperform" rating to a "sector perform" rating and set a $178.00 price target for the company. in a report on Wednesday, July 22nd. Morgan Stanley boosted their target price on shares of Northern Trust from $170.00 to $173.00 and gave the stock an "underweight" rating in a research report on Thursday, July 23rd. Citigroup lifted their target price on Northern Trust from $162.00 to $172.00 and gave the company a "neutral" rating in a research note on Tuesday, June 30th. The Goldman Sachs Group raised their target price on Northern Trust from $151.00 to $169.00 and gave the company a "neutral" rating in a research report on Wednesday, April 22nd. Finally, Bank of America boosted their price target on shares of Northern Trust from $190.00 to $200.00 and gave the stock a "buy" rating in a research report on Tuesday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Northern Trust presently has an average rating of "Hold" and a consensus price target of $180.68.

About Northern Trust

Northern Trust Corporation NASDAQ: NTRS is a global financial services firm headquartered in Chicago that provides asset servicing, asset management and wealth management solutions to institutions, corporations and high-net-worth individuals. The company's core businesses include custody and fund administration, investment operations outsourcing, trust and fiduciary services, private banking, and retirement and defined contribution plan services.

Northern Trust's product and service offerings span custody and fund accounting, portfolio and performance analytics, securities lending, cash management and foreign exchange, as well as discretionary and non-discretionary investment management.

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