Danske Bank A S Takes Position in Northern Trust Corporation $NTRS

Danske Bank A S acquired a new stake in Northern Trust Corporation (NASDAQ:NTRS) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 171,585 shares of the asset manager’s stock, valued at approximately $29,828,000.

A number of other hedge funds also recently bought and sold shares of the stock. Concurrent Investment Advisors LLC purchased a new stake in shares of Northern Trust during the fourth quarter valued at about $1,959,000. Goldman Sachs Group Inc. lifted its stake in shares of Northern Trust by 5.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,894,755 shares of the asset manager’s stock worth $395,395,000 after buying an additional 161,826 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in Northern Trust by 1,838.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 180,034 shares of the asset manager’s stock worth $22,793,000 after acquiring an additional 170,745 shares during the period. PFA Pension Forsikringsaktieselskab acquired a new stake in shares of Northern Trust during the fourth quarter worth about $67,126,000. Finally, Strs Ohio lifted its stake in Northern Trust by 83.0% during the 4th quarter. Strs Ohio now owns 136,403 shares of the asset manager’s stock valued at $18,631,000 after acquiring an additional 61,858 shares during the period. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Zacks Research upgraded Northern Trust from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. Citigroup lifted their target price on shares of Northern Trust from $162.00 to $172.00 and gave the company a “neutral” rating in a research report on Tuesday, June 30th. Royal Bank Of Canada cut Northern Trust from an “outperform” rating to a “sector perform” rating and set a $178.00 price target for the company. in a research report on Wednesday, July 22nd. The Goldman Sachs Group increased 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. Finally, UBS Group set a $186.00 target price on Northern Trust in a research note on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $180.68.

Insider Activity

In related news, Director Robert Edward Jr. Moritz acquired 255 shares of the firm’s stock in a transaction dated Wednesday, July 29th. The stock was acquired at an average price of $179.57 per share, for a total transaction of $45,790.35. Following the purchase, the director owned 8,400 shares of the company’s stock, valued at $1,508,388. This represents a 3.13% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.66% of the company’s stock.

Northern Trust Stock Down 2.7%

Shares of NASDAQ NTRS opened at $185.40 on Thursday. 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 $33.92 billion, a price-to-earnings ratio of 15.91, a PEG ratio of 1.07 and a beta of 1.25. Northern Trust Corporation has a 52-week low of $121.12 and a 52-week high of $195.78. The business’s 50 day moving average is $181.09 and its two-hundred day moving average is $162.89.

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

Northern Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 4th will be paid a $0.88 dividend. The ex-dividend date is Friday, September 4th. This is an increase from Northern Trust’s previous quarterly dividend of $0.80. This represents a $3.52 annualized dividend and a dividend yield of 1.9%. Northern Trust’s payout ratio is 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.