Andra AP fonden Decreases Holdings in Northern Trust Co. (NASDAQ:NTRS)

Andra AP fonden reduced its position in Northern Trust Co. (NASDAQ:NTRS) by 30.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,600 shares of the asset manager’s stock after selling 35,300 shares during the period. Andra AP fonden’s holdings in Northern Trust were worth $6,685,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its stake in shares of Northern Trust by 1.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 10,584 shares of the asset manager’s stock worth $889,000 after buying an additional 131 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its position in Northern Trust by 23.1% during the second quarter. Massmutual Trust Co. FSB ADV now owns 805 shares of the asset manager’s stock worth $68,000 after acquiring an additional 151 shares during the last quarter. Harvest Investment Advisors LLC lifted its holdings in shares of Northern Trust by 1.0% in the fourth quarter. Harvest Investment Advisors LLC now owns 16,291 shares of the asset manager’s stock valued at $1,375,000 after purchasing an additional 160 shares in the last quarter. Assenagon Asset Management S.A. grew its position in shares of Northern Trust by 2.4% in the first quarter. Assenagon Asset Management S.A. now owns 7,464 shares of the asset manager’s stock valued at $664,000 after purchasing an additional 172 shares during the last quarter. Finally, First Trust Direct Indexing L.P. increased its stake in shares of Northern Trust by 4.5% during the 1st quarter. First Trust Direct Indexing L.P. now owns 4,257 shares of the asset manager’s stock worth $379,000 after purchasing an additional 182 shares in the last quarter. 83.19% of the stock is owned by institutional investors and hedge funds.

Northern Trust Price Performance

NTRS stock opened at $87.23 on Thursday. The company has a market cap of $17.85 billion, a PE ratio of 19.26, a price-to-earnings-growth ratio of 1.45 and a beta of 1.08. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The stock has a 50-day moving average price of $86.89 and a two-hundred day moving average price of $84.90. Northern Trust Co. has a 12-month low of $62.44 and a 12-month high of $92.46.

Northern Trust (NASDAQ:NTRS) last issued its earnings results on Wednesday, July 17th. The asset manager reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.75 by $0.03. Northern Trust had a return on equity of 12.24% and a net margin of 10.53%. The business had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter in the previous year, the business earned $1.79 EPS. The company’s revenue for the quarter was up 53.8% on a year-over-year basis. As a group, research analysts predict that Northern Trust Co. will post 7.01 EPS for the current year.

Northern Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date is Friday, September 6th. Northern Trust’s dividend payout ratio is presently 66.23%.

Analysts Set New Price Targets

A number of research firms recently issued reports on NTRS. Keefe, Bruyette & Woods reduced their target price on Northern Trust from $92.00 to $85.00 and set a “market perform” rating on the stock in a research note on Thursday, June 27th. Morgan Stanley reduced their price objective on Northern Trust from $97.00 to $93.00 and set an “underweight” rating on the stock in a research report on Tuesday, July 30th. Royal Bank of Canada lifted their price objective on Northern Trust from $86.00 to $90.00 and gave the stock an “outperform” rating in a research report on Thursday, July 18th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Northern Trust from $85.00 to $84.00 and set a “hold” rating on the stock in a report on Thursday, August 15th. Finally, The Goldman Sachs Group lowered their price target on shares of Northern Trust from $94.00 to $84.00 and set a “neutral” rating for the company in a report on Tuesday, July 2nd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Northern Trust has an average rating of “Hold” and an average target price of $88.75.

Insider Activity at Northern Trust

In other Northern Trust news, EVP Mark C. Gossett sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $88.90, for a total value of $533,400.00. Following the transaction, the executive vice president now directly owns 28,707 shares of the company’s stock, valued at $2,552,052.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Teresa Parker sold 5,883 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $84.06, for a total value of $494,524.98. Following the completion of the transaction, the executive vice president now directly owns 83,765 shares in the company, valued at $7,041,285.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark C. Gossett sold 6,000 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $88.90, for a total transaction of $533,400.00. Following the sale, the executive vice president now directly owns 28,707 shares of the company’s stock, valued at $2,552,052.30. The disclosure for this sale can be found here. Company insiders own 0.64% of the company’s stock.

Northern Trust Company Profile

Northern Trust Corporation, a financial holding company, provides wealth management, asset servicing, asset management, and banking solutions for corporations, institutions, families, and individuals worldwide. It operates in two segments, Asset Servicing and Wealth Management. The Asset Servicing segment offers asset servicing and related services, including custody, fund administration, investment operations outsourcing, investment management, investment risk and analytical services, employee benefit services, securities lending, foreign exchange, treasury management, brokerage services, transition management services, banking, and cash management services.