SEB Asset Management AB Makes New $22.29 Million Investment in Northern Trust Corporation $NTRS

Key Points

• SEB Asset Management AB disclosed a new stake in Northern Trust, buying 159,732 shares worth about $22.29 million in the first quarter and ending with 0.09% ownership.
• Institutional ownership remains heavy, with 83.19% of Northern Trust shares held by hedge funds and other institutional investors, while insiders own just 0.66%.
• Northern Trust posted better-than-expected quarterly results and recently paid a $0.80 quarterly dividend ($3.20 annualized), as analysts currently hold a consensus “Hold” rating with an average price target of $178.75.

SEB Asset Management AB acquired a new stake in Northern Trust Corporation (NASDAQ:NTRS - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 159,732 shares of the asset manager's stock, valued at approximately $22,294,000. SEB Asset Management AB owned 0.09% of Northern Trust at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. V Square Quantitative Management LLC increased its position in shares of Northern Trust by 1.3% during the first quarter. V Square Quantitative Management LLC now owns 4,793 shares of the asset manager's stock worth $669,000 after purchasing an additional 61 shares in the last quarter. CWS Financial Advisors LLC grew its position in Northern Trust by 2.0% in the first quarter. CWS Financial Advisors LLC now owns 3,997 shares of the asset manager's stock worth $558,000 after acquiring an additional 77 shares during the period. SJS Investment Consulting Inc. increased its position in shares of Northern Trust by 16.5% during the 1st quarter. SJS Investment Consulting Inc. now owns 559 shares of the asset manager's stock worth $78,000 after purchasing an additional 79 shares during the last quarter. Apollon Wealth Management LLC increased its position in shares of Northern Trust by 1.9% during the 4th quarter. Apollon Wealth Management LLC now owns 4,379 shares of the asset manager's stock worth $598,000 after purchasing an additional 81 shares during the last quarter. Finally, OLD National Bancorp IN raised its holdings in Northern Trust by 3.2% in the 1st quarter. OLD National Bancorp IN now owns 2,663 shares of the asset manager's stock valued at $372,000 after buying an additional 83 shares during the period. 83.19% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Northern Trust

In related news, Director Robert Edward Jr. Moritz acquired 225 shares of the firm's stock in a transaction on Friday, May 1st. The stock was bought at an average cost of $166.41 per share, with a total value of $37,442.25. Following the transaction, the director owned 8,145 shares of the company's stock, valued at $1,355,409.45. The trade was a 2.84% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Clive Bellows sold 2,800 shares of the stock in a transaction on Friday, April 24th. The stock was sold at an average price of $165.02, for a total value of $462,056.00. Following the sale, the insider directly owned 28,217 shares of the company's stock, valued at approximately $4,656,369.34. This represents a 9.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 22,800 shares of company stock worth $3,785,251 in the last 90 days. 0.66% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on NTRS. Morgan Stanley upped their price objective on shares of Northern Trust from $157.00 to $170.00 and gave the stock an "underweight" rating in a report on Monday, June 29th. Royal Bank Of Canada lifted their target price on Northern Trust from $159.00 to $178.00 and gave the company an "outperform" rating in a research report on Wednesday, April 22nd. The Goldman Sachs Group lifted their price objective on shares of Northern Trust from $151.00 to $169.00 and gave the company a "neutral" rating in a report on Wednesday, April 22nd. UBS Group set a $186.00 price objective on Northern Trust in a research report on Friday, June 26th. Finally, Wells Fargo & Company upped their price target on Northern Trust from $175.00 to $189.00 and gave the stock an "equal weight" rating in a report on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Northern Trust has a consensus rating of "Hold" and an average target price of $178.75.

Northern Trust Price Performance

NTRS stock opened at $184.68 on Monday. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.51. The company's 50 day moving average is $172.99 and its two-hundred day moving average is $156.49. The stock has a market cap of $34.18 billion, a P/E ratio of 19.34, a PEG ratio of 1.18 and a beta of 1.25. Northern Trust Corporation has a twelve month low of $118.99 and a twelve month high of $191.60.

Northern Trust (NASDAQ:NTRS - Get Free Report) last announced its quarterly earnings results on Tuesday, April 21st. The asset manager reported $2.71 EPS for the quarter, topping the consensus estimate of $2.37 by $0.34. Northern Trust had a net margin of 12.84% and a return on equity of 15.94%. The firm had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same period last year, the business earned $1.90 EPS. Northern Trust's revenue for the quarter was up 13.8% compared to the same quarter last year. Research analysts expect that Northern Trust Corporation will post 11.29 earnings per share for the current fiscal year.

Northern Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Friday, June 5th were issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, June 5th. Northern Trust's payout ratio is presently 33.51%.

Northern Trust Profile

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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