Swedbank AB Purchases 7,114 Shares of Northern Trust Corporation $NTRS

Swedbank AB lifted its position in Northern Trust Corporation (NASDAQ:NTRS) by 13.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 58,615 shares of the asset manager’s stock after buying an additional 7,114 shares during the quarter. Swedbank AB’s holdings in Northern Trust were worth $8,181,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of NTRS. V Square Quantitative Management LLC lifted its position in Northern Trust by 1.3% during the 1st quarter. V Square Quantitative Management LLC now owns 4,793 shares of the asset manager’s stock worth $669,000 after acquiring an additional 61 shares during the last quarter. CWS Financial Advisors LLC grew its position in shares of Northern Trust by 2.0% in the first quarter. CWS Financial Advisors LLC now owns 3,997 shares of the asset manager’s stock valued at $558,000 after purchasing an additional 77 shares during the last quarter. SJS Investment Consulting Inc. increased its stake in shares of Northern Trust by 16.5% in the first quarter. SJS Investment Consulting Inc. now owns 559 shares of the asset manager’s stock worth $78,000 after purchasing an additional 79 shares during the period. Apollon Wealth Management LLC lifted its position in shares of Northern Trust by 1.9% during the 4th quarter. Apollon Wealth Management LLC now owns 4,379 shares of the asset manager’s stock worth $598,000 after purchasing an additional 81 shares during the last quarter. Finally, OLD National Bancorp IN lifted its position in shares of Northern Trust by 3.2% during the 1st quarter. OLD National Bancorp IN now owns 2,663 shares of the asset manager’s stock worth $372,000 after purchasing an additional 83 shares during the last quarter. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Northern Trust Stock Performance

Northern Trust stock traded up $0.69 during trading hours on Friday, hitting $183.55. The stock had a trading volume of 805,612 shares, compared to its average volume of 916,431. The company has a 50-day moving average of $170.53 and a two-hundred day moving average of $154.74. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.51. Northern Trust Corporation has a fifty-two week low of $118.99 and a fifty-two week high of $185.57. The company has a market cap of $33.97 billion, a PE ratio of 19.22, a price-to-earnings-growth ratio of 1.17 and a beta of 1.25.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings data on Tuesday, April 21st. The asset manager reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.37 by $0.34. The company had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.13 billion. Northern Trust had a return on equity of 15.94% and a net margin of 12.84%.Northern Trust’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.90 EPS. On average, equities research analysts anticipate that Northern Trust Corporation will post 11.29 EPS for the current fiscal year.

Northern Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Friday, June 5th were issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Friday, June 5th. Northern Trust’s payout ratio is 33.51%.

Analyst Upgrades and Downgrades

Several brokerages have commented on NTRS. Bank of America lifted their price target on Northern Trust from $190.00 to $200.00 and gave the stock a “buy” rating in a research report on Tuesday. The Goldman Sachs Group increased their price objective on Northern Trust from $151.00 to $169.00 and gave the company a “neutral” rating in a research report on Wednesday, April 22nd. UBS Group set a $186.00 price objective on shares of Northern Trust in a research note on Friday, June 26th. Truist Financial boosted their target price on shares of Northern Trust from $176.00 to $186.00 and gave the stock a “hold” rating in a research report on Friday, June 26th. Finally, Morgan Stanley upped their target price on shares of Northern Trust from $157.00 to $170.00 and gave the company an “underweight” rating in a research note on Monday, June 29th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $178.75.

Insider Buying and Selling at Northern Trust

In other news, CFO David W. Fox, Jr. sold 19,987 shares of the stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $166.16, for a total value of $3,321,039.92. Following the completion of the transaction, the chief financial officer owned 18,588 shares in the company, valued at approximately $3,088,582.08. This represents a 51.81% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Clive Bellows sold 2,800 shares of the firm’s stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $165.02, for a total transaction of $462,056.00. Following the transaction, the insider directly owned 28,217 shares of the company’s stock, valued at $4,656,369.34. The trade was a 9.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 22,800 shares of company stock valued at $3,785,251 in the last 90 days. 0.66% of the stock is currently owned by company insiders.

Northern Trust Company Profile

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.