DekaBank Deutsche Girozentrale Acquires 120 Shares of Northern Trust Co. (NASDAQ:NTRS)

DekaBank Deutsche Girozentrale raised its holdings in shares of Northern Trust Co. (NASDAQ:NTRS) by 0.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 43,713 shares of the asset manager’s stock after acquiring an additional 120 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Northern Trust were worth $3,608,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC boosted its stake in 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 acquiring an additional 131 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its holdings in Northern Trust by 23.1% in the second quarter. Massmutual Trust Co. FSB ADV now owns 805 shares of the asset manager’s stock worth $68,000 after purchasing an additional 151 shares during the period. Harvest Investment Advisors LLC boosted its position in shares of Northern Trust by 1.0% during the fourth quarter. Harvest Investment Advisors LLC now owns 16,291 shares of the asset manager’s stock worth $1,375,000 after purchasing an additional 160 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Northern Trust by 2.4% in the 1st quarter. Assenagon Asset Management S.A. now owns 7,464 shares of the asset manager’s stock valued at $664,000 after buying an additional 172 shares during the period. Finally, First Trust Direct Indexing L.P. grew its holdings in shares of Northern Trust by 4.5% in the 1st quarter. First Trust Direct Indexing L.P. now owns 4,257 shares of the asset manager’s stock valued at $379,000 after buying an additional 182 shares during the period. Institutional investors and hedge funds own 83.19% of the company’s stock.

Insider Activity at Northern Trust

In other Northern Trust news, EVP Teresa Parker sold 5,883 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $84.06, for a total transaction of $494,524.98. Following the transaction, the executive vice president now owns 83,765 shares of the company’s stock, valued at approximately $7,041,285.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Northern Trust news, Director Charles A. Tribbett sold 1,855 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $88.12, for a total value of $163,462.60. Following the completion of the sale, the director now owns 1,000 shares in the company, valued at $88,120. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Teresa Parker sold 5,883 shares of Northern Trust stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $84.06, for a total transaction of $494,524.98. Following the completion of the transaction, the executive vice president now directly owns 83,765 shares of the company’s stock, valued at approximately $7,041,285.90. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,738 shares of company stock valued at $1,191,388. Insiders own 0.64% of the company’s stock.

Northern Trust Price Performance

NASDAQ NTRS opened at $90.31 on Thursday. The firm’s 50 day moving average is $87.42 and its 200-day moving average is $85.16. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $18.48 billion, a PE ratio of 19.94, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08. 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 quarterly earnings results on Wednesday, July 17th. The asset manager reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.03. Northern Trust had a net margin of 10.53% and a return on equity of 12.24%. The firm had revenue of $2.72 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same period in the previous year, the business earned $1.79 EPS. The company’s revenue was up 53.8% compared to the same quarter last year. Equities research analysts anticipate that Northern Trust Co. will post 7.01 earnings per share for the current fiscal year.

Northern Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 6th will be issued a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $3.00 annualized dividend and a yield of 3.32%. Northern Trust’s payout ratio is presently 66.23%.

Wall Street Analysts Forecast Growth

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

About Northern Trust

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.