Danica Pension Livsforsikringsaktieselskab Invests $9.98 Million in Northern Trust Corporation $NTRS

Danica Pension Livsforsikringsaktieselskab purchased a new position in shares of Northern Trust Corporation (NASDAQ:NTRS) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 57,416 shares of the asset manager’s stock, valued at approximately $9,981,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Empowered Funds LLC lifted its stake in Northern Trust by 13.3% in the first quarter. Empowered Funds LLC now owns 20,112 shares of the asset manager’s stock worth $1,984,000 after purchasing an additional 2,363 shares during the last quarter. Woodline Partners LP grew its stake in shares of Northern Trust by 39.1% during the first quarter. Woodline Partners LP now owns 16,557 shares of the asset manager’s stock valued at $1,633,000 after buying an additional 4,653 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Northern Trust by 79.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,350 shares of the asset manager’s stock worth $171,000 after buying an additional 596 shares during the period. WINTON GROUP Ltd purchased a new stake in shares of Northern Trust in the second quarter worth approximately $267,000. Finally, Daiwa Securities Group Inc. lifted its stake in shares of Northern Trust by 4.6% during the 2nd quarter. Daiwa Securities Group Inc. now owns 29,290 shares of the asset manager’s stock worth $3,714,000 after acquiring an additional 1,275 shares during the last quarter. 83.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on NTRS shares. Barclays boosted their price objective on Northern Trust from $176.00 to $189.00 and gave the company an “equal weight” rating in a report on Thursday, July 23rd. Morgan Stanley lifted their target price on Northern Trust from $170.00 to $173.00 and gave the stock an “underweight” rating in a research report on Thursday, July 23rd. Truist Financial boosted their target price on shares of Northern Trust from $176.00 to $186.00 and gave the company a “hold” rating in a research note on Friday, June 26th. Citigroup upped their price target 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. Finally, JPMorgan Chase & Co. raised their price target on shares of Northern Trust from $179.50 to $185.50 and gave the stock a “neutral” rating in a research note on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have issued a Hold rating and two have issued 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 Buying and Selling

In other news, Director Robert Edward Jr. Moritz purchased 255 shares of the firm’s stock in a transaction on Wednesday, July 29th. The stock was acquired at an average cost of $179.57 per share, with a total value of $45,790.35. Following the completion of the transaction, the director owned 8,400 shares in the company, valued at $1,508,388. This represents a 3.13% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.66% of the company’s stock.

Northern Trust Stock Down 0.5%

Northern Trust stock opened at $190.58 on Wednesday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.43. The firm has a market cap of $34.87 billion, a P/E ratio of 16.36, a P/E/G ratio of 1.08 and a beta of 1.25. The business has a fifty day moving average of $180.70 and a two-hundred day moving average of $162.65. Northern Trust Corporation has a twelve month low of $121.12 and a twelve month high of $195.78.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings results on Wednesday, July 22nd. The asset manager reported $4.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.71 by $1.52. The business had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.69 billion. Northern Trust had a return on equity of 16.91% and a net margin of 14.76%.The business’s revenue was up 35.1% compared to the same quarter last year. During the same period last year, the business posted $2.13 EPS. On average, analysts forecast that Northern Trust Corporation will post 11.59 earnings per share for the current fiscal year.

Northern Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 4th will be issued a $0.88 dividend. This is a boost from Northern Trust’s previous quarterly dividend of $0.80. This represents a $3.52 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Friday, September 4th. Northern Trust’s dividend payout ratio is presently 27.47%.

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.