ASR Vermogensbeheer N.V. Lowers Stock Position in Northern Trust Corporation $NTRS

ASR Vermogensbeheer N.V. lessened its holdings in shares of Northern Trust Corporation (NASDAQ:NTRS) by 6.8% during the second quarter, HoldingsChannel reports. The fund owned 46,396 shares of the asset manager’s stock after selling 3,395 shares during the period. ASR Vermogensbeheer N.V.’s holdings in Northern Trust were worth $5,883,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of NTRS. Continuum Advisory LLC grew its stake in shares of Northern Trust by 5,340.0% during the 1st quarter. Continuum Advisory LLC now owns 272 shares of the asset manager’s stock worth $27,000 after purchasing an additional 267 shares during the period. Zions Bancorporation National Association UT acquired a new stake in shares of Northern Trust in the first quarter valued at about $29,000. Harbor Investment Advisory LLC boosted its holdings in Northern Trust by 68.4% during the second quarter. Harbor Investment Advisory LLC now owns 320 shares of the asset manager’s stock worth $41,000 after buying an additional 130 shares in the last quarter. Wayfinding Financial LLC acquired a new position in Northern Trust during the first quarter worth about $35,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in Northern Trust in the first quarter valued at about $43,000. Institutional investors and hedge funds own 83.19% of the company’s stock.

Insider Activity at Northern Trust

In other news, Director Robert Edward Jr. Moritz acquired 256 shares of Northern Trust stock in a transaction dated Wednesday, August 13th. The shares were acquired at an average cost of $126.34 per share, with a total value of $32,343.04. Following the purchase, the director directly owned 2,525 shares of the company’s stock, valued at approximately $319,008.50. This trade represents a 11.28% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.77% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Morgan Stanley boosted their price target on Northern Trust from $110.00 to $131.00 and gave the stock an “underweight” rating in a research note on Monday. Citigroup boosted their target price on Northern Trust from $110.00 to $135.00 and gave the stock a “neutral” rating in a research report on Friday, September 5th. Weiss Ratings restated a “buy (b-)” rating on shares of Northern Trust in a research report on Saturday, September 27th. BMO Capital Markets began coverage on shares of Northern Trust in a research report on Friday. They issued a “market perform” rating and a $142.00 price objective on the stock. Finally, Zacks Research downgraded shares of Northern Trust from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 9th. Four research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $128.23.

Northern Trust Stock Performance

Northern Trust stock opened at $132.40 on Friday. The stock has a fifty day moving average price of $129.46 and a 200 day moving average price of $114.59. Northern Trust Corporation has a 52 week low of $81.62 and a 52 week high of $135.48. The firm has a market capitalization of $25.32 billion, a P/E ratio of 15.56, a PEG ratio of 1.58 and a beta of 1.31. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.58.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings data on Wednesday, July 23rd. The asset manager reported $2.13 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.05. Northern Trust had a net margin of 11.75% and a return on equity of 14.06%. The business had revenue of $2 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same period in the prior year, the firm posted $4.34 EPS. The company’s revenue was down 26.4% on a year-over-year basis. Equities research analysts anticipate that Northern Trust Corporation will post 8.27 earnings per share for the current year.

Northern Trust Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Friday, September 5th were paid a dividend of $0.80 per share. This is a boost from Northern Trust’s previous quarterly dividend of $0.75. This represents a $3.20 annualized dividend and a yield of 2.4%. The ex-dividend date was Friday, September 5th. Northern Trust’s payout ratio is currently 37.60%.

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.