Skandinaviska Enskilda Banken AB publ Purchases 5,431 Shares of Northern Trust Corporation (NASDAQ:NTRS)

Key Points

• Skandinaviska Enskilda Banken AB publ increased its holdings in Northern Trust Corporation by 4.6%, purchasing an additional 5,431 shares, bringing its total ownership to 124,447 shares valued at approximately $12.27 million.
• Northern Trust recently reported earnings of $2.13 per share, exceeding analysts' expectations, though its revenue decreased by 26.4% compared to the same quarter last year.
• The company announced a quarterly dividend increase from $0.75 to $0.80 per share, reflecting a 2.46% dividend yield and a payout ratio of 35.25%.

Skandinaviska Enskilda Banken AB publ increased its stake in Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 4.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 124,447 shares of the asset manager's stock after purchasing an additional 5,431 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned approximately 0.06% of Northern Trust worth $12,275,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of NTRS. Norges Bank bought a new position in Northern Trust in the 4th quarter worth $83,550,000. Bank of New York Mellon Corp increased its stake in Northern Trust by 47.8% in the 1st quarter. Bank of New York Mellon Corp now owns 1,810,816 shares of the asset manager's stock worth $178,637,000 after buying an additional 585,992 shares in the last quarter. Royal Bank of Canada increased its stake in Northern Trust by 60.2% in the 4th quarter. Royal Bank of Canada now owns 1,497,484 shares of the asset manager's stock worth $153,493,000 after buying an additional 562,976 shares in the last quarter. Cerity Partners LLC increased its stake in Northern Trust by 451.9% in the 4th quarter. Cerity Partners LLC now owns 555,631 shares of the asset manager's stock worth $56,866,000 after buying an additional 454,956 shares in the last quarter. Finally, Raiffeisen Bank International AG purchased a new stake in Northern Trust in the 4th quarter worth $46,197,000. 83.19% of the stock is owned by institutional investors.

Northern Trust Trading Up 0.4%

NTRS traded up $0.47 on Wednesday, hitting $132.11. The company had a trading volume of 241,923 shares, compared to its average volume of 1,638,034. The company has a market cap of $25.70 billion, a PE ratio of 15.53, a PEG ratio of 1.73 and a beta of 1.26. Northern Trust Corporation has a 12-month low of $80.81 and a 12-month high of $133.00. The company has a quick ratio of 0.71, a current ratio of 0.72 and a debt-to-equity ratio of 0.58. The business's fifty day simple moving average is $118.11 and its 200 day simple moving average is $107.48.

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

Northern Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 5th will be paid a $0.80 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $3.20 annualized dividend and a yield of 2.42%. This is an increase from Northern Trust's previous quarterly dividend of $0.75. Northern Trust's dividend payout ratio (DPR) is presently 35.25%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on NTRS. The Goldman Sachs Group increased their price target on Northern Trust from $89.00 to $101.00 and gave the stock a "sell" rating in a research note on Wednesday, July 2nd. Royal Bank Of Canada set a $123.00 price target on Northern Trust and gave the stock an "outperform" rating in a research note on Monday, June 30th. Wolfe Research upgraded Northern Trust from an "underperform" rating to a "peer perform" rating in a research note on Thursday, July 24th. Keefe, Bruyette & Woods reiterated an "underperform" rating and issued a $118.00 price target (down previously from $120.00) on shares of Northern Trust in a research note on Thursday, July 24th. Finally, Wall Street Zen upgraded Northern Trust from a "sell" rating to a "hold" rating in a research note on Saturday. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $116.58.

Insider Activity

In other Northern Trust news, insider Teresa Parker sold 6,467 shares of the firm's stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $100.62, for a total value of $650,709.54. Following the completion of the sale, the insider owned 79,391 shares of the company's stock, valued at $7,988,322.42. This trade represents a 7.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Clive Bellows sold 3,300 shares of the firm's stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $99.95, for a total transaction of $329,835.00. Following the completion of the sale, the executive vice president directly owned 28,736 shares of the company's stock, valued at approximately $2,872,163.20. The trade was a 10.30% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 9,772 shares of company stock valued at $981,069. 0.77% of the stock is owned by insiders.

Northern Trust Company 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.