Erste Asset Management GmbH Has $9.28 Million Stake in Northern Trust Corporation $NTRS

Erste Asset Management GmbH trimmed its position in Northern Trust Corporation (NASDAQ:NTRS) by 8.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 69,300 shares of the asset manager’s stock after selling 6,640 shares during the period. Erste Asset Management GmbH’s holdings in Northern Trust were worth $9,279,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Bank of New York Mellon Corp increased its position in shares of Northern Trust by 2.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,947,456 shares of the asset manager’s stock worth $262,128,000 after purchasing an additional 40,048 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new position in Northern Trust during the third quarter worth $64,863,000. Aviva PLC raised its position in Northern Trust by 8.4% during the second quarter. Aviva PLC now owns 149,911 shares of the asset manager’s stock worth $19,007,000 after acquiring an additional 11,587 shares in the last quarter. SG Americas Securities LLC lifted its stake in Northern Trust by 228.0% in the third quarter. SG Americas Securities LLC now owns 75,829 shares of the asset manager’s stock valued at $10,207,000 after acquiring an additional 52,711 shares during the last quarter. Finally, National Pension Service grew its position in shares of Northern Trust by 4.3% in the 3rd quarter. National Pension Service now owns 360,527 shares of the asset manager’s stock valued at $48,527,000 after acquiring an additional 14,899 shares during the period. 83.19% of the stock is owned by institutional investors and hedge funds.

Northern Trust Price Performance

Northern Trust stock opened at $143.09 on Friday. Northern Trust Corporation has a 12 month low of $81.62 and a 12 month high of $157.60. The stock’s 50 day moving average is $145.39 and its 200-day moving average is $135.41. 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 company has a market capitalization of $26.59 billion, a price-to-earnings ratio of 16.37, 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 the consensus estimate of $2.37 by $0.05. The business had revenue of $3.15 billion during the quarter. Northern Trust had a return on equity of 14.87% and a net margin of 12.15%.The business’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the previous year, the business posted $2.26 earnings per share. Equities research analysts expect that Northern Trust Corporation will post 8.27 EPS for the current year.

Northern Trust Dividend Announcement

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

Insider Activity at Northern Trust

In other Northern Trust news, Director Robert Edward Jr. Moritz bought 245 shares of Northern Trust stock in a transaction dated Monday, February 2nd. The stock was bought at an average price of $151.85 per share, with a total value of $37,203.25. Following the completion of the transaction, the director owned 6,931 shares in the company, valued at $1,052,472.35. The trade was a 3.66% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO David W. Fox, Jr. sold 1,450 shares of the company’s stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $144.05, for a total transaction of $208,872.50. Following the completion of the transaction, the chief financial officer owned 20,162 shares in the company, valued at $2,904,336.10. This trade represents a 6.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 28,641 shares of company stock valued at $4,269,900. 0.77% of the stock is currently owned by insiders.

Analysts Set New Price Targets

NTRS has been the topic of a number of research analyst reports. Evercore upped their target price on shares of Northern Trust from $142.00 to $155.00 and gave the company an “in-line” rating in a report on Friday, January 23rd. Truist Financial set a $148.00 price objective on Northern Trust in a research note on Wednesday, January 7th. The Goldman Sachs Group lifted their target price on Northern Trust from $130.00 to $148.00 and gave the stock a “sell” rating in a research note on Wednesday, January 28th. Zacks Research raised Northern Trust from a “hold” rating to a “strong-buy” rating in a report on Friday, January 23rd. Finally, Wells Fargo & Company increased their price target on Northern Trust from $145.00 to $150.00 and gave the company an “equal weight” rating in a research note on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, Northern Trust presently has a consensus rating of “Hold” and an average price target of $148.75.

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.