DekaBank Deutsche Girozentrale Grows Position in Northern Trust Corporation $NTRS

DekaBank Deutsche Girozentrale boosted its stake in Northern Trust Corporation (NASDAQ:NTRS) by 0.6% in the second quarter, Holdings Channel.com reports. The firm owned 43,871 shares of the asset manager’s stock after acquiring an additional 278 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Northern Trust were worth $5,459,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Continuum Advisory LLC grew its holdings in Northern Trust by 5,340.0% in the first quarter. Continuum Advisory LLC now owns 272 shares of the asset manager’s stock valued at $27,000 after purchasing an additional 267 shares during the period. Zions Bancorporation National Association UT acquired a new position in Northern Trust during the first quarter valued at approximately $29,000. Wayfinding Financial LLC acquired a new position in Northern Trust during the first quarter valued at approximately $35,000. GFG Capital LLC acquired a new position in Northern Trust during the second quarter valued at approximately $35,000. Finally, Harbor Investment Advisory LLC lifted its position in Northern Trust by 68.4% during the second quarter. Harbor Investment Advisory LLC now owns 320 shares of the asset manager’s stock valued at $41,000 after buying an additional 130 shares in the last quarter. 83.19% of the stock is currently owned by hedge funds and other institutional investors.

Northern Trust Trading Up 1.0%

NASDAQ NTRS opened at $126.03 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.72 and a debt-to-equity ratio of 0.58. The company’s fifty day simple moving average is $129.59 and its 200-day simple moving average is $117.88. The stock has a market cap of $24.10 billion, a P/E ratio of 14.69, a PEG ratio of 1.39 and a beta of 1.31. Northern Trust Corporation has a 52 week low of $81.62 and a 52 week high of $135.48.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings results on Wednesday, October 22nd. The asset manager reported $2.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.26 by $0.03. The business had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.02 billion. Northern Trust had a net margin of 11.99% and a return on equity of 14.37%. The business’s revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.22 earnings per share. Equities research analysts predict that Northern Trust Corporation will post 8.27 EPS for the current fiscal year.

Northern Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 1st. Investors of record on Friday, December 5th will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Friday, December 5th. Northern Trust’s payout ratio is 37.60%.

Insider Activity

In related news, Director Robert Edward Jr. Moritz purchased 256 shares of the company’s stock in a transaction that occurred on Wednesday, August 13th. The stock was acquired at an average price of $126.34 per share, for a total transaction of $32,343.04. Following the completion of the purchase, the director owned 2,525 shares in the company, valued at approximately $319,008.50. This represents a 11.28% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.77% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Keefe, Bruyette & Woods lifted their price target on shares of Northern Trust from $123.00 to $125.00 and gave the company an “underperform” rating in a research report on Thursday. BMO Capital Markets assumed coverage on shares of Northern Trust in a research report on Friday, October 3rd. They set a “market perform” rating and a $142.00 price target on the stock. Cowen reaffirmed a “buy” rating on shares of Northern Trust in a research report on Thursday. Wells Fargo & Company lifted their price target on shares of Northern Trust from $127.00 to $131.00 and gave the company an “equal weight” rating in a research report on Thursday. Finally, Barclays boosted their target price on shares of Northern Trust from $128.00 to $136.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 24th. Five investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $130.71.

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.