DekaBank Deutsche Girozentrale Boosts Holdings in Northern Trust Corporation $NTRS

DekaBank Deutsche Girozentrale lifted its stake in Northern Trust Corporation (NASDAQ:NTRS) by 0.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,871 shares of the asset manager’s stock after buying an additional 278 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Northern Trust were worth $5,459,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of NTRS. GAMMA Investing LLC grew its position in shares of Northern Trust by 5.8% in the 1st quarter. GAMMA Investing LLC now owns 4,517 shares of the asset manager’s stock valued at $446,000 after buying an additional 249 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in Northern Trust by 9.1% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 16,317 shares of the asset manager’s stock worth $1,610,000 after purchasing an additional 1,358 shares during the period. Continuum Advisory LLC boosted its stake in 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. Oppenheimer & Co. Inc. boosted its stake in Northern Trust by 9.4% during the 1st quarter. Oppenheimer & Co. Inc. now owns 4,443 shares of the asset manager’s stock worth $438,000 after purchasing an additional 380 shares during the period. Finally, Asset Management One Co. Ltd. boosted its stake in Northern Trust by 8.4% during the 1st quarter. Asset Management One Co. Ltd. now owns 84,974 shares of the asset manager’s stock worth $8,383,000 after purchasing an additional 6,570 shares during the period. 83.19% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Northern Trust

In other news, Director Robert Edward Jr. Moritz purchased 256 shares of the stock in a transaction dated Wednesday, August 13th. The stock was acquired at an average cost of $126.34 per share, for a total transaction of $32,343.04. Following the completion of the acquisition, the director directly owned 2,525 shares in the company, valued at $319,008.50. This represents a 11.28% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.77% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

NTRS has been the subject of a number of recent research reports. Keefe, Bruyette & Woods increased their price target on shares of Northern Trust from $123.00 to $125.00 and gave the stock an “underperform” rating in a research note on Thursday. TD Cowen raised their target price on shares of Northern Trust from $152.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday. Truist Financial reduced their target price on shares of Northern Trust from $142.00 to $139.00 and set a “hold” rating for the company in a research note on Thursday. Morgan Stanley raised their target price on shares of Northern Trust from $110.00 to $131.00 and gave the stock an “underweight” rating in a research note on Monday, September 29th. Finally, Wolfe Research upgraded shares of Northern Trust from an “underperform” rating to a “peer perform” rating in a research note on Thursday, July 24th. Five equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have issued a Sell 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 $130.71.

Northern Trust Stock Up 1.0%

Shares of NASDAQ NTRS opened at $126.03 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.70 and a debt-to-equity ratio of 0.58. Northern Trust Corporation has a 52 week low of $81.62 and a 52 week high of $135.48. The firm has a 50-day moving average price of $129.59 and a 200 day moving average price of $117.88. The stock has a market capitalization of $24.10 billion, a price-to-earnings ratio of 14.69, a price-to-earnings-growth ratio of 1.39 and a beta of 1.31.

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

Northern Trust Announces Dividend

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

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.