Erste Asset Management GmbH Has $7.60 Million Holdings in Northern Trust Corporation $NTRS

Erste Asset Management GmbH cut its stake in Northern Trust Corporation (NASDAQ:NTRS) by 21.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 54,400 shares of the asset manager’s stock after selling 14,900 shares during the period. Erste Asset Management GmbH’s holdings in Northern Trust were worth $7,600,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Brandywine Global Investment Management LLC boosted its stake in Northern Trust by 23.3% in the 4th quarter. Brandywine Global Investment Management LLC now owns 246,036 shares of the asset manager’s stock worth $33,606,000 after purchasing an additional 46,500 shares during the period. Manchester Capital Management LLC boosted its stake in Northern Trust by 601.3% in the 4th quarter. Manchester Capital Management LLC now owns 561 shares of the asset manager’s stock worth $77,000 after purchasing an additional 481 shares during the period. Syon Capital LLC boosted its stake in Northern Trust by 30.7% in the 4th quarter. Syon Capital LLC now owns 7,463 shares of the asset manager’s stock worth $1,019,000 after purchasing an additional 1,755 shares during the period. Los Angeles Capital Management LLC acquired a new position in shares of Northern Trust during the 4th quarter worth about $111,000. Finally, Havemeyer Place LP acquired a new position in shares of Northern Trust during the 4th quarter worth about $166,000. 83.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on NTRS shares. JPMorgan Chase & Co. increased their price objective on shares of Northern Trust from $153.50 to $170.00 and gave the stock a “neutral” rating in a research note on Monday, May 11th. BMO Capital Markets upgraded shares of Northern Trust from a “market perform” rating to an “outperform” rating and set a $168.00 price objective for the company in a research note on Monday, April 6th. Royal Bank Of Canada increased their price objective on shares of Northern Trust from $159.00 to $178.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 22nd. The Goldman Sachs Group increased their price objective on shares of Northern Trust from $151.00 to $169.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 22nd. Finally, Weiss Ratings upgraded shares of Northern Trust from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Northern Trust currently has a consensus rating of “Hold” and an average price target of $164.08.

Northern Trust Trading Down 0.8%

Shares of NASDAQ:NTRS opened at $169.11 on Tuesday. Northern Trust Corporation has a 52-week low of $107.08 and a 52-week high of $173.66. The company has a market capitalization of $31.29 billion, a P/E ratio of 17.71, a price-to-earnings-growth ratio of 1.22 and a beta of 1.25. The company has a 50-day simple moving average of $160.15 and a 200 day simple moving average of $147.79. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.62 and a current ratio of 0.62.

Northern Trust (NASDAQ:NTRS) last issued its earnings results on Tuesday, April 21st. The asset manager reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.37 by $0.34. Northern Trust had a net margin of 12.84% and a return on equity of 15.94%. The business had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same period last year, the business posted $1.90 EPS. Northern Trust’s revenue was up 13.8% on a year-over-year basis. Sell-side analysts forecast that Northern Trust Corporation will post 10.68 earnings per share for the current year.

Northern Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Friday, June 5th will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 1.9%. The ex-dividend date is Friday, June 5th. Northern Trust’s dividend payout ratio (DPR) is 33.51%.

Insider Activity at Northern Trust

In other Northern Trust news, insider Clive Bellows sold 2,800 shares of the stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $165.02, for a total value 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. This represents a 9.03% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert Edward Jr. Moritz purchased 225 shares of the stock in a transaction on Friday, May 1st. The stock was bought at an average cost of $166.41 per share, for a total transaction of $37,442.25. Following the completion of the acquisition, the director owned 8,145 shares in the company, valued at approximately $1,355,409.45. This trade represents a 2.84% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders sold 22,800 shares of company stock worth $3,785,251. Insiders own 0.66% of the company’s stock.

Northern Trust 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.