Raiffeisen Bank International AG Cuts Stake in Northern Trust Corporation $NTRS

Raiffeisen Bank International AG reduced its holdings in shares of Northern Trust Corporation (NASDAQ:NTRS) by 11.8% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 385,907 shares of the asset manager’s stock after selling 51,683 shares during the quarter. Raiffeisen Bank International AG’s holdings in Northern Trust were worth $47,775,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in NTRS. Geode Capital Management LLC lifted its stake in Northern Trust by 3.7% during the 2nd quarter. Geode Capital Management LLC now owns 5,196,659 shares of the asset manager’s stock valued at $656,229,000 after acquiring an additional 184,726 shares during the period. Invesco Ltd. lifted its holdings in shares of Northern Trust by 19.3% in the 1st quarter. Invesco Ltd. now owns 3,443,599 shares of the asset manager’s stock valued at $339,711,000 after buying an additional 558,287 shares during the period. American Century Companies Inc. boosted its stake in shares of Northern Trust by 0.7% in the first quarter. American Century Companies Inc. now owns 3,013,123 shares of the asset manager’s stock worth $297,245,000 after buying an additional 20,010 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Northern Trust by 5.3% during the second quarter. Bank of New York Mellon Corp now owns 1,907,408 shares of the asset manager’s stock worth $241,840,000 after acquiring an additional 96,592 shares during the period. Finally, Confluence Investment Management LLC lifted its holdings in Northern Trust by 6.6% in the second quarter. Confluence Investment Management LLC now owns 1,184,610 shares of the asset manager’s stock valued at $150,197,000 after acquiring an additional 72,867 shares during the period. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Northern Trust Trading Down 1.2%

Shares of NASDAQ NTRS opened at $127.39 on Monday. 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 stock has a market capitalization of $24.09 billion, a PE ratio of 14.85, a PEG ratio of 1.37 and a beta of 1.32. Northern Trust Corporation has a twelve month low of $81.62 and a twelve month high of $135.48. The stock has a fifty day simple moving average of $129.26 and a 200-day simple moving average of $122.53.

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 the consensus estimate of $2.26 by $0.03. The business had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $2.02 billion. Northern Trust had a net margin of 11.99% and a return on equity of 14.37%. The business’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.22 earnings per share. On average, equities analysts forecast that Northern Trust Corporation will post 8.27 earnings per share for the current year.

Northern Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 1st. Investors of record on Friday, December 5th will be paid a dividend of $0.80 per share. 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 dividend payout ratio is presently 37.30%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on NTRS shares. Citigroup boosted their target price on shares of Northern Trust from $110.00 to $135.00 and gave the company a “neutral” rating in a research note on Friday, September 5th. Keefe, Bruyette & Woods raised their price objective on Northern Trust from $123.00 to $125.00 and gave the company an “underperform” rating in a report on Thursday, October 23rd. Wolfe Research upgraded shares of Northern Trust from an “underperform” rating to a “peer perform” rating in a research report on Thursday, July 24th. Morgan Stanley increased their target price on Northern Trust from $110.00 to $131.00 and gave the company an “underweight” rating in a report on Monday, September 29th. Finally, Wall Street Zen cut Northern Trust from a “hold” rating to a “sell” rating in a research report on Saturday, October 25th. Five investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $132.46.

Insider Activity at Northern Trust

In related news, EVP Susan Cohen Levy sold 27,591 shares of Northern Trust stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $128.13, for a total transaction of $3,535,234.83. Following the sale, the executive vice president directly owned 48,257 shares in the company, valued at $6,183,169.41. This trade represents a 36.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert Edward Jr. Moritz purchased 3,891 shares of the company’s stock in a transaction that occurred on Tuesday, November 4th. The shares were purchased at an average price of $128.57 per share, for a total transaction of $500,265.87. Following the purchase, the director directly owned 6,686 shares in the company, valued at $859,619.02. The trade was a 139.21% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 0.77% of the company’s stock.

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.