Nykredit A S Invests $10.14 Million in Northern Trust Corporation $NTRS

Key Points

• Nykredit A/S acquired 58,346 Northern Trust shares worth approximately $10.14 million during the second quarter. Institutional investors collectively own 83.19% of the company.
• Northern Trust reported strong quarterly results, with earnings per share of $4.23 exceeding estimates of $2.71 and revenue rising 35.1% year over year to $2.71 billion.
• The company increased its quarterly dividend from $0.80 to $0.88 per share, implying an annualized dividend of $3.52 and a 2.0% yield. Analysts maintain an overall “Hold” rating with an average price target of $180.68.

Nykredit A S acquired a new stake in Northern Trust Corporation (NASDAQ:NTRS - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 58,346 shares of the asset manager's stock, valued at approximately $10,143,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Continuum Advisory LLC purchased a new position in Northern Trust in the 2nd quarter valued at about $26,000. NBH Bank purchased a new stake in shares of Northern Trust during the second quarter worth about $30,000. Keating Financial Advisory Services Inc. purchased a new stake in shares of Northern Trust during the second quarter worth about $31,000. Reflection Asset Management acquired a new position in shares of Northern Trust in the fourth quarter valued at approximately $25,000. Finally, Basecamp Wealth Advisors LLC raised its position in shares of Northern Trust by 99.0% in the first quarter. Basecamp Wealth Advisors LLC now owns 203 shares of the asset manager's stock valued at $28,000 after buying an additional 101 shares during the last quarter. Hedge funds and other institutional investors own 83.19% of the company's stock.

Insider Transactions at Northern Trust

In related news, Director Robert Moritz, Jr. purchased 255 shares of Northern Trust stock in a transaction that occurred on Wednesday, July 29th. The shares were purchased at an average cost of $179.57 per share, with a total value of $45,790.35. Following the transaction, the director owned 8,400 shares of the company's stock, valued at approximately $1,508,388. The trade was a 3.13% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Thomas A. South sold 1,800 shares of the stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $184.90, for a total transaction of $332,820.00. Following the completion of the sale, the executive vice president directly owned 92,917 shares of the company's stock, valued at $17,180,353.30. This trade represents a 1.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.66% of the stock is currently owned by company insiders.

Northern Trust Stock Performance

Shares of NASDAQ:NTRS opened at $177.89 on Monday. The business has a 50-day moving average of $184.64 and a two-hundred day moving average of $168.63. The firm has a market capitalization of $32.55 billion, a PE ratio of 15.27, a P/E/G ratio of 1.00 and a beta of 1.24. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.65 and a quick ratio of 0.65. Northern Trust Corporation has a 12 month low of $121.12 and a 12 month high of $195.78.

Northern Trust (NASDAQ:NTRS - Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The asset manager reported $4.23 earnings per share for the quarter, beating the consensus estimate of $2.71 by $1.52. Northern Trust had a return on equity of 16.91% and a net margin of 14.76%.The business had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.69 billion. During the same period in the previous year, the company posted $2.13 EPS. The company's revenue was up 35.1% compared to the same quarter last year. As a group, research analysts forecast that Northern Trust Corporation will post 11.59 earnings per share for the current year.

Northern Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 4th will be given a $0.88 dividend. The ex-dividend date of this dividend is Friday, September 4th. This is a positive change from Northern Trust's previous quarterly dividend of $0.80. This represents a $3.52 annualized dividend and a dividend yield of 2.0%. Northern Trust's dividend payout ratio (DPR) is currently 30.21%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on NTRS shares. Wells Fargo & Company upped their price objective on shares of Northern Trust from $189.00 to $194.00 and gave the company an "equal weight" rating in a research note on Thursday, July 23rd. Barclays raised their price objective on Northern Trust from $176.00 to $189.00 and gave the stock an "equal weight" rating in a report on Thursday, July 23rd. Bank of America lifted their price objective on Northern Trust from $190.00 to $200.00 and gave the company a "buy" rating in a research report on Tuesday, July 7th. Citigroup upped 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. Finally, Keefe, Bruyette & Woods increased their target price on Northern Trust from $157.00 to $175.00 and gave the stock an "underperform" rating in a research report on Thursday, July 9th. Four equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $180.68.

Northern Trust Company Profile

Northern Trust Corporation is a financial services company headquartered in Chicago, Illinois, and the holding company for Northern Trust Company and related businesses. Founded in 1889, the company provides banking, investment management and fiduciary services to corporations, institutions, high-net-worth individuals, families and privately held businesses.

Northern Trust's institutional offerings include asset custody and servicing, fund administration, securities lending, foreign exchange, treasury services, capital markets support and related solutions.

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