BI Asset Management Fondsmaeglerselskab A S Buys 4,577 Shares of Northern Trust Corporation $NTRS

BI Asset Management Fondsmaeglerselskab A S increased its stake in shares of Northern Trust Corporation (NASDAQ:NTRS) by 49.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 13,920 shares of the asset manager’s stock after buying an additional 4,577 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Northern Trust were worth $1,874,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. FNY Investment Advisers LLC bought a new position in Northern Trust during the 2nd quarter worth $25,000. AlphaCore Capital LLC grew its position in shares of Northern Trust by 87.4% during the 2nd quarter. AlphaCore Capital LLC now owns 208 shares of the asset manager’s stock worth $27,000 after purchasing an additional 97 shares in the last quarter. Hantz Financial Services Inc. boosted its stake in shares of Northern Trust by 5,225.0% in the second quarter. Hantz Financial Services Inc. now owns 213 shares of the asset manager’s stock valued at $27,000 after buying an additional 209 shares during the period. Clearstead Trust LLC acquired a new position in Northern Trust in the 2nd quarter valued at $29,000. Finally, Caldwell Trust Co bought a new stake in shares of Northern Trust during the 2nd quarter valued at $48,000. 83.19% of the stock is owned by institutional investors.

Northern Trust Stock Performance

Shares of Northern Trust stock opened at $152.15 on Monday. The stock has a market cap of $28.77 billion, a price-to-earnings ratio of 17.41, a P/E/G ratio of 1.23 and a beta of 1.27. Northern Trust Corporation has a twelve month low of $81.62 and a twelve month high of $157.60. The company’s fifty day moving average is $142.32 and its 200 day moving average is $133.61. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.57.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings results on Friday, January 30th. The asset manager reported $2.42 EPS for the quarter, beating analysts’ consensus estimates of $2.37 by $0.05. Northern Trust had a return on equity of 14.87% and a net margin of 12.15%.The firm had revenue of $3.15 billion for the quarter. During the same quarter last year, the firm posted $2.26 EPS. The company’s quarterly revenue was up 8.4% on a year-over-year basis. Sell-side analysts forecast that Northern Trust Corporation will post 8.27 EPS for the current year.

Northern Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Friday, March 6th will be given a $0.80 dividend. The ex-dividend date is Friday, March 6th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.1%. Northern Trust’s payout ratio is 36.61%.

Wall Street Analysts Forecast Growth

NTRS has been the subject of a number of analyst reports. Zacks Research raised Northern Trust from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 23rd. Citigroup boosted their price objective on shares of Northern Trust from $143.00 to $162.00 and gave the company a “neutral” rating in a research report on Tuesday, January 27th. Keefe, Bruyette & Woods raised their target price on Northern Trust from $123.00 to $125.00 and gave the company an “underperform” rating in a report on Thursday, October 23rd. Morgan Stanley upped their price objective on Northern Trust from $131.00 to $140.00 and gave the stock an “underweight” rating in a research report on Friday, January 23rd. Finally, Truist Financial set a $148.00 target price on Northern Trust in a research note on Wednesday, January 7th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $148.75.

Insider Activity

In other Northern Trust news, insider John Landers sold 766 shares of the stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $124.35, for a total transaction of $95,252.10. Following the completion of the sale, the insider directly owned 7,313 shares in the company, valued at approximately $909,371.55. This trade represents a 9.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Peter Cherecwich sold 25,000 shares of the business’s stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $149.62, for a total value of $3,740,500.00. Following the completion of the transaction, the chief operating officer directly owned 26,259 shares in the company, valued at $3,928,871.58. This represents a 48.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.77% of the stock is currently owned by insiders.

Northern Trust Company 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.