Raiffeisen Bank International AG Has $52.73 Million Position in Northern Trust Corporation $NTRS

Key Points

• Raiffeisen Bank International reduced its Northern Trust stake by 1.8% in the second quarter, retaining 301,475 shares valued at approximately $52.7 million. Institutional investors collectively own 83.19% of the company.
• Northern Trust reported strong quarterly results, with EPS 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 payout of $3.52 and a 1.9% yield. Analysts maintain a consensus “Hold” rating with an average price target of $180.68.

Raiffeisen Bank International AG cut its holdings in Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 1.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 301,475 shares of the asset manager's stock after selling 5,559 shares during the quarter. Raiffeisen Bank International AG owned about 0.16% of Northern Trust worth $52,731,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of NTRS. Reflection Asset Management acquired a new position in shares of Northern Trust in the 4th quarter valued at $25,000. Triumph Capital Management acquired a new stake in shares of Northern Trust during the third quarter worth $25,000. Continuum Advisory LLC bought a new stake in Northern Trust in the second quarter valued at about $26,000. Basecamp Wealth Advisors LLC increased its holdings in 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 purchasing an additional 101 shares during the last quarter. Finally, Keating Financial Advisory Services Inc. acquired a new position in Northern Trust in the second quarter valued at about $31,000. Institutional investors and hedge funds own 83.19% of the company's stock.

Northern Trust Trading Up 1.9%

NASDAQ NTRS opened at $187.45 on Friday. Northern Trust Corporation has a one year low of $121.12 and a one year high of $195.78. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.65 and a quick ratio of 0.65. The firm has a market cap of $34.30 billion, a P/E ratio of 16.09, a P/E/G ratio of 1.04 and a beta of 1.24. The stock's 50-day moving average is $183.62 and its 200-day moving average is $165.70.

Northern Trust (NASDAQ:NTRS - Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The asset manager reported $4.23 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $2.69 billion. During the same period in the previous year, the firm earned $2.13 EPS. Northern Trust's quarterly revenue was up 35.1% compared to the same quarter last year. Sell-side analysts anticipate that Northern Trust Corporation will post 11.59 earnings per share for the current fiscal year.

Northern Trust Increases Dividend

The business 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. The ex-dividend date of this dividend is Friday, September 4th. This is an increase from Northern Trust's previous quarterly dividend of $0.80. This represents a $3.52 dividend on an annualized basis and a yield of 1.9%. Northern Trust's payout ratio is presently 27.47%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Royal Bank Of Canada lowered Northern Trust from an "outperform" rating to a "sector perform" rating and set a $178.00 target price for the company. in a research report on Wednesday, July 22nd. Morgan Stanley boosted their price objective on shares of Northern Trust from $170.00 to $173.00 and gave the company an "underweight" rating in a report on Thursday, July 23rd. Citigroup increased their target price on shares of Northern Trust from $162.00 to $172.00 and gave the stock a "neutral" rating in a report on Tuesday, June 30th. Wells Fargo & Company lifted their price target on shares of Northern Trust from $189.00 to $194.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 23rd. Finally, JPMorgan Chase & Co. boosted their price target on shares of Northern Trust from $179.50 to $185.50 and gave the company a "neutral" rating in a report on Tuesday, August 4th. Four analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $180.68.

Insider Activity at Northern Trust

In related news, Director Robert Moritz, Jr. acquired 255 shares of the business's stock in a transaction that occurred on Wednesday, July 29th. The shares were acquired 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 $1,508,388. The trade was a 3.13% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Thomas South sold 1,800 shares of the company's stock in a transaction on Monday, August 24th. The stock was sold at an average price of $184.90, for a total transaction of $332,820.00. Following the completion of the transaction, the executive vice president directly owned 92,917 shares of the company's stock, valued at approximately $17,180,353.30. The trade was a 1.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.66% of the stock is owned by corporate insiders.

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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