APG Asset Management N.V. Has $2.72 Million Stock Holdings in Northern Trust Co. (NASDAQ:NTRS)

APG Asset Management N.V. lessened its stake in shares of Northern Trust Co. (NASDAQ:NTRS) by 85.1% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 34,676 shares of the asset manager’s stock after selling 198,567 shares during the period. APG Asset Management N.V.’s holdings in Northern Trust were worth $2,717,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in NTRS. Massachusetts Financial Services Co. MA boosted its stake in Northern Trust by 13.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,413,620 shares of the asset manager’s stock valued at $622,596,000 after purchasing an additional 850,556 shares during the period. Primecap Management Co. CA lifted its holdings in shares of Northern Trust by 3.9% during the second quarter. Primecap Management Co. CA now owns 7,046,757 shares of the asset manager’s stock worth $591,787,000 after buying an additional 261,285 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Northern Trust by 140.2% in the fourth quarter. Wellington Management Group LLP now owns 5,802,792 shares of the asset manager’s stock valued at $489,640,000 after acquiring an additional 3,387,002 shares during the period. Ariel Investments LLC grew its stake in shares of Northern Trust by 3.6% in the second quarter. Ariel Investments LLC now owns 2,644,205 shares of the asset manager’s stock worth $222,060,000 after acquiring an additional 91,816 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Northern Trust by 12.3% during the second quarter. Dimensional Fund Advisors LP now owns 2,003,675 shares of the asset manager’s stock worth $168,253,000 after acquiring an additional 219,387 shares during the period. Institutional investors own 83.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. The Goldman Sachs Group downgraded shares of Northern Trust from a “neutral” rating to a “sell” rating and reduced their price target for the company from $84.00 to $82.00 in a report on Thursday, September 26th. Deutsche Bank Aktiengesellschaft lifted their target price on Northern Trust from $84.00 to $94.00 and gave the stock a “hold” rating in a research report on Monday, September 23rd. Morgan Stanley boosted their price target on Northern Trust from $93.00 to $97.00 and gave the company an “underweight” rating in a research note on Monday. Keefe, Bruyette & Woods reduced 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. Finally, Royal Bank of Canada upped their target price on Northern Trust from $86.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Northern Trust currently has an average rating of “Hold” and a consensus price target of $89.75.

Insider Activity at Northern Trust

In other news, EVP Teresa Parker sold 5,883 shares of the stock in a transaction 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 sale, the executive vice president now owns 83,765 shares in the company, valued at $7,041,285.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Teresa Parker sold 5,883 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $84.06, for a total transaction of $494,524.98. Following 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 document filed 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 that occurred 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 completion of the sale, the executive vice president now directly owns 28,707 shares of the company’s stock, valued at approximately $2,552,052.30. The disclosure for this sale can be found here. Insiders sold 13,738 shares of company stock valued at $1,191,388 in the last three months. Corporate insiders own 0.64% of the company’s stock.

Northern Trust Stock Down 0.0 %

Shares of NASDAQ NTRS opened at $90.03 on Tuesday. The business has a fifty day moving average of $87.94 and a two-hundred day moving average of $85.68. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71. Northern Trust Co. has a 52-week low of $62.44 and a 52-week high of $92.82. The stock has a market cap of $18.42 billion, a PE ratio of 19.87, a PEG ratio of 1.53 and a beta of 1.08.

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

Northern Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 6th will be given a dividend of $0.75 per share. The ex-dividend date is Friday, September 6th. This represents a $3.00 dividend on an annualized basis and a yield of 3.33%. Northern Trust’s dividend payout ratio (DPR) is presently 66.23%.

Northern Trust 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.