Nykredit A S Invests $11.43 Million in Northern Trust Corporation $NTRS

Nykredit A S purchased a new stake in Northern Trust Corporation (NASDAQ:NTRS) during the 2nd quarter, HoldingsChannel reports. The fund purchased 65,763 shares of the asset manager’s stock, valued at approximately $11,432,000.

A number of other institutional investors also recently modified their holdings of NTRS. BlackRock Inc. purchased a new position in Northern Trust in the 2nd quarter valued at approximately $2,523,781,000. Primecap Management Co. CA bought a new position in shares of Northern Trust in the second quarter worth $1,060,553,000. Bank of New York Mellon Corp bought a new position in shares of Northern Trust in the second quarter worth $361,079,000. Norges Bank purchased a new position in shares of Northern Trust in the fourth quarter valued at $257,410,000. Finally, Legal & General Group Plc bought a new stake in shares of Northern Trust during the 2nd quarter valued at $207,054,000. 83.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NTRS. Bank of America lifted their target price on Northern Trust from $190.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Zacks Research lowered shares of Northern Trust from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 25th. Weiss Ratings reissued a “buy (b)” rating on shares of Northern Trust in a report on Friday, July 31st. Keefe, Bruyette & Woods boosted their price target on shares of Northern Trust from $157.00 to $175.00 and gave the company an “underperform” rating in a research report on Thursday, July 9th. Finally, Evercore set a $179.00 price objective on Northern Trust in a research report on Monday, July 6th. Four research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $180.68.

Insider Buying and Selling

In other news, Director Robert Moritz, Jr. purchased 255 shares of the stock in a transaction that occurred on Wednesday, July 29th. The stock was bought at an average cost of $179.57 per share, for a total transaction of $45,790.35. Following the acquisition, the director directly owned 8,400 shares of the company’s stock, valued at $1,508,388. This represents a 3.13% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Thomas South sold 1,800 shares of the stock in a transaction on Monday, August 24th. The shares were sold at an average price of $184.90, for a total transaction of $332,820.00. Following the sale, the executive vice president directly owned 92,917 shares of the company’s stock, valued at $17,180,353.30. The trade was a 1.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.66% of the company’s stock.

Northern Trust Trading Down 0.4%

Shares of NTRS opened at $186.63 on Friday. The firm’s 50 day simple moving average is $183.88 and its 200 day simple moving average is $165.84. The company has a market capitalization of $34.15 billion, a P/E ratio of 16.02, a P/E/G ratio of 1.05 and a beta of 1.24. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.65 and a quick ratio of 0.65. Northern Trust Corporation has a 1-year low of $121.12 and a 1-year high of $195.78.

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

Northern Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 4th will be given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.9%. The ex-dividend date is Friday, September 4th. This is a positive change from Northern Trust’s previous quarterly dividend of $0.80. Northern Trust’s dividend payout ratio is 27.47%.

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.