Skandinaviska Enskilda Banken AB publ Reduces Holdings in Northern Trust Corporation $NTRS

Skandinaviska Enskilda Banken AB publ lessened its stake in Northern Trust Corporation (NASDAQ:NTRS) by 39.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 52,645 shares of the asset manager’s stock after selling 34,089 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Northern Trust were worth $7,085,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. FNY Investment Advisers LLC acquired a new stake in shares of Northern Trust in the 2nd quarter valued at about $25,000. Hantz Financial Services Inc. lifted its stake in Northern Trust by 5,225.0% in the second quarter. Hantz Financial Services Inc. now owns 213 shares of the asset manager’s stock valued at $27,000 after buying an additional 209 shares during the last quarter. AlphaCore Capital LLC boosted its stake in Northern Trust by 87.4% during the 2nd quarter. AlphaCore Capital LLC now owns 208 shares of the asset manager’s stock worth $27,000 after purchasing an additional 97 shares during the period. Clearstead Trust LLC purchased a new position in Northern Trust during the 2nd quarter worth $29,000. Finally, Caldwell Trust Co purchased a new position in Northern Trust during the 2nd quarter worth $48,000. Institutional investors and hedge funds own 83.19% of the company’s stock.

Northern Trust Trading Down 1.7%

Shares of NTRS opened at $145.02 on Friday. The firm’s 50-day moving average is $144.77 and its two-hundred day moving average is $134.66. Northern Trust Corporation has a twelve month low of $81.62 and a twelve month high of $157.60. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $27.43 billion, a P/E ratio of 16.59, a PEG ratio of 1.18 and a beta of 1.27.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings results on Friday, January 30th. The asset manager reported $2.42 earnings per share for the quarter, topping analysts’ consensus estimates of $2.37 by $0.05. The business had revenue of $3.15 billion for the quarter. Northern Trust had a return on equity of 14.87% and a net margin of 12.15%.The business’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.26 EPS. On average, research analysts predict that Northern Trust Corporation will post 8.27 earnings per share for the current fiscal year.

Northern Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Friday, March 6th will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Friday, March 6th. Northern Trust’s payout ratio is 36.61%.

Insiders Place Their Bets

In related news, insider Clive Bellows sold 1,148 shares of Northern Trust stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $145.26, for a total transaction of $166,758.48. Following the completion of the transaction, the insider directly owned 34,133 shares in the company, valued at $4,958,159.58. The trade was a 3.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Guy Gibson sold 1,043 shares of the company’s stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $147.43, for a total value of $153,769.49. Following the completion of the sale, the insider directly owned 35,013 shares in the company, valued at approximately $5,161,966.59. The trade was a 2.89% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 27,191 shares of company stock worth $4,061,028. 0.77% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on NTRS. Truist Financial set a $148.00 target price on shares of Northern Trust in a report on Wednesday, January 7th. Citigroup boosted their price target on Northern Trust from $143.00 to $162.00 and gave the company a “neutral” rating in a research report on Tuesday, January 27th. Barclays increased their price objective on Northern Trust from $136.00 to $160.00 and gave the stock an “equal weight” rating in a research report on Monday, January 5th. Zacks Research upgraded Northern Trust from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 23rd. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Northern Trust in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $148.75.

About Northern Trust

Northern Trust Corporation (NASDAQ: NTRS) is a global financial services firm headquartered in Chicago that provides asset servicing, asset management and wealth management solutions to institutions, corporations and high-net-worth individuals. The company’s core businesses include custody and fund administration, investment operations outsourcing, trust and fiduciary services, private banking, and retirement and defined contribution plan services.

Northern Trust’s product and service offerings span custody and fund accounting, portfolio and performance analytics, securities lending, cash management and foreign exchange, as well as discretionary and non-discretionary investment management.