Raiffeisen Bank International AG Sells 36,441 Shares of Northern Trust Corporation $NTRS

Raiffeisen Bank International AG lessened its holdings in shares of Northern Trust Corporation (NASDAQ:NTRS) by 9.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 338,415 shares of the asset manager’s stock after selling 36,441 shares during the period. Raiffeisen Bank International AG’s holdings in Northern Trust were worth $46,745,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Empowered Funds LLC boosted its stake in Northern Trust by 13.3% in the 1st quarter. Empowered Funds LLC now owns 20,112 shares of the asset manager’s stock worth $1,984,000 after purchasing an additional 2,363 shares in the last quarter. Woodline Partners LP lifted its stake in Northern Trust by 39.1% during the 1st quarter. Woodline Partners LP now owns 16,557 shares of the asset manager’s stock valued at $1,633,000 after acquiring an additional 4,653 shares during the period. EverSource Wealth Advisors LLC lifted its stake in Northern Trust by 79.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,350 shares of the asset manager’s stock valued at $171,000 after acquiring an additional 596 shares during the period. WINTON GROUP Ltd purchased a new stake in shares of Northern Trust during the 2nd quarter valued at about $267,000. Finally, Daiwa Securities Group Inc. increased its position in shares of Northern Trust by 4.6% during the 2nd quarter. Daiwa Securities Group Inc. now owns 29,290 shares of the asset manager’s stock valued at $3,714,000 after purchasing an additional 1,275 shares during the last quarter. Institutional investors own 83.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NTRS. Royal Bank Of Canada boosted their price objective on shares of Northern Trust from $159.00 to $178.00 and gave the company an “outperform” rating in a research report on Wednesday, April 22nd. Citigroup began coverage on shares of Northern Trust in a report on Monday, February 23rd. They issued a “neutral” rating for the company. Wells Fargo & Company increased their target price on shares of Northern Trust from $150.00 to $175.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 22nd. Weiss Ratings raised shares of Northern Trust from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. Finally, The Goldman Sachs Group increased their price objective on shares of Northern Trust from $151.00 to $169.00 and gave the company a “neutral” rating in a report on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $164.08.

Insider Activity at Northern Trust

In other Northern Trust news, Director Robert Edward Jr. Moritz bought 225 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The stock was purchased at an average cost of $166.41 per share, with a total value of $37,442.25. Following the completion of the acquisition, the director owned 8,145 shares in the company, valued at $1,355,409.45. This trade represents a 2.84% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO David W. Fox, Jr. sold 19,987 shares of the firm’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $166.16, for a total value of $3,321,039.92. Following the completion of the sale, the chief financial officer owned 18,588 shares of the company’s stock, valued at approximately $3,088,582.08. This represents a 51.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 22,800 shares of company stock valued at $3,785,251. 0.66% of the stock is owned by corporate insiders.

Northern Trust Trading Up 2.8%

Shares of NTRS opened at $170.75 on Friday. The company has a 50 day simple moving average of $162.08 and a two-hundred day simple moving average of $148.69. Northern Trust Corporation has a 1 year low of $107.08 and a 1 year high of $173.66. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.62 and a quick ratio of 0.62. The firm has a market cap of $31.60 billion, a P/E ratio of 17.88, a price-to-earnings-growth ratio of 1.19 and a beta of 1.25.

Northern Trust (NASDAQ:NTRS) last posted its earnings results on Tuesday, April 21st. The asset manager reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates of $2.37 by $0.34. Northern Trust had a net margin of 12.84% and a return on equity of 15.94%. The firm had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same period last year, the firm posted $1.90 earnings per share. Northern Trust’s revenue for the quarter was up 13.8% compared to the same quarter last year. On average, equities analysts expect that Northern Trust Corporation will post 10.68 earnings per share for the current fiscal year.

Northern Trust Announces Dividend

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

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.