BI Asset Management Fondsmaeglerselskab A S Acquires 2,974 Shares of Northern Trust Corporation $NTRS

BI Asset Management Fondsmaeglerselskab A S grew its stake in Northern Trust Corporation (NASDAQ:NTRS) by 23.9% during the 1st quarter, HoldingsChannel reports. The firm owned 15,419 shares of the asset manager’s stock after acquiring an additional 2,974 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Northern Trust were worth $2,152,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Triumph Capital Management bought a new stake in Northern Trust in the third quarter valued at $25,000. Reflection Asset Management acquired a new stake in shares of Northern Trust in the 4th quarter valued at $25,000. Board of the Pension Protection Fund bought a new stake in shares of Northern Trust in the 4th quarter worth about $27,000. Elyxium Wealth LLC acquired a new stake in shares of Northern Trust during the 4th quarter worth about $34,000. Finally, International Assets Investment Management LLC bought a new position in Northern Trust during the 4th quarter valued at about $35,000. Institutional investors own 83.19% of the company’s stock.

Insider Buying and Selling

In other Northern Trust news, insider Clive Bellows sold 2,800 shares of the firm’s stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $165.02, for a total value of $462,056.00. Following the transaction, the insider directly owned 28,217 shares of the company’s stock, valued at approximately $4,656,369.34. This trade represents a 9.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO David W. Fox, Jr. sold 19,987 shares of Northern Trust stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $166.16, for a total transaction of $3,321,039.92. Following the sale, the chief financial officer directly owned 18,588 shares of the company’s stock, valued at $3,088,582.08. This represents a 51.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 22,800 shares of company stock valued at $3,785,251 over the last ninety days. Insiders own 0.66% of the company’s stock.

Northern Trust Price Performance

Northern Trust stock opened at $176.26 on Wednesday. The business’s 50-day simple moving average is $166.51 and its 200 day simple moving average is $151.14. The stock has a market cap of $32.62 billion, a price-to-earnings ratio of 18.46, a P/E/G ratio of 1.26 and a beta of 1.25. Northern Trust Corporation has a 12-month low of $117.76 and a 12-month high of $177.78. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.51.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings data on Tuesday, April 21st. The asset manager reported $2.71 EPS for the quarter, topping analysts’ consensus estimates of $2.37 by $0.34. The firm had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.13 billion. Northern Trust had a return on equity of 15.94% and a net margin of 12.84%.The company’s revenue was up 13.8% on a year-over-year basis. During the same period last year, the company earned $1.90 earnings per share. As a group, research analysts anticipate that Northern Trust Corporation will post 10.68 earnings per share for the current year.

Northern Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 5th will be given a dividend of $0.80 per share. The ex-dividend date is Friday, June 5th. This represents a $3.20 annualized dividend and a dividend yield of 1.8%. Northern Trust’s payout ratio is currently 33.51%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on NTRS. Wells Fargo & Company upped their price objective on shares of Northern Trust from $150.00 to $175.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 22nd. Truist Financial boosted their target price on Northern Trust from $155.00 to $176.00 and gave the stock a “hold” rating in a report on Wednesday, April 22nd. Weiss Ratings upgraded Northern Trust from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 4th. Royal Bank Of Canada raised their price target on Northern Trust from $159.00 to $178.00 and gave the company an “outperform” rating in a report on Wednesday, April 22nd. Finally, Zacks Research upgraded Northern Trust from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $164.08.

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.