Deutsche Bank AG Invests $144.09 Million in Northern Trust Corporation $NTRS

Deutsche Bank AG bought a new stake in shares of Northern Trust Corporation (NASDAQ:NTRS) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 828,874 shares of the asset manager’s stock, valued at approximately $144,091,000.

A number of other large investors also recently added to or reduced their stakes in the business. State Street Corp increased its stake in Northern Trust by 1.0% in the 3rd quarter. State Street Corp now owns 9,493,634 shares of the asset manager’s stock worth $1,285,236,000 after purchasing an additional 97,584 shares during the period. Invesco Ltd. boosted its stake in shares of Northern Trust by 8.7% during the fourth quarter. Invesco Ltd. now owns 3,747,840 shares of the asset manager’s stock valued at $511,917,000 after purchasing an additional 301,164 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Northern Trust by 5.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,894,755 shares of the asset manager’s stock valued at $395,395,000 after purchasing an additional 161,826 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Northern Trust by 1.5% in the first quarter. Dimensional Fund Advisors LP now owns 2,455,996 shares of the asset manager’s stock worth $342,744,000 after purchasing an additional 36,322 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new position in shares of Northern Trust in the second quarter worth approximately $361,079,000. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on NTRS. Citigroup upped their price objective on shares of Northern Trust from $162.00 to $172.00 and gave the company a “neutral” rating in a research note on Tuesday, June 30th. Keefe, Bruyette & Woods boosted their price target on Northern Trust from $157.00 to $175.00 and gave the company an “underperform” rating in a report on Thursday, July 9th. Barclays increased their price objective on Northern Trust from $176.00 to $189.00 and gave the stock an “equal weight” rating in a report on Thursday, July 23rd. Bank of America lifted their price objective on Northern Trust from $190.00 to $200.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. Finally, Morgan Stanley raised their price target on Northern Trust from $170.00 to $173.00 and gave the stock an “underweight” rating in a research note on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $180.68.

Insider Buying and Selling

In related news, Director Robert Edward Jr. Moritz purchased 255 shares of Northern Trust stock in a transaction on Wednesday, July 29th. The stock was acquired at an average price of $179.57 per share, for a total transaction of $45,790.35. Following the completion of the transaction, the director directly owned 8,400 shares in the company, valued at $1,508,388. This represents a 3.13% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.66% of the company’s stock.

Northern Trust Stock Down 2.7%

NTRS stock opened at $185.40 on Thursday. The stock has a market capitalization of $33.92 billion, a P/E ratio of 15.91, a P/E/G ratio of 1.07 and a beta of 1.25. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.65 and a quick ratio of 0.65. Northern Trust Corporation has a 1-year low of $121.12 and a 1-year high of $195.78. The business has a fifty day moving average price of $181.09 and a 200-day moving average price of $162.89.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings results on Wednesday, July 22nd. The asset manager reported $4.23 EPS for the quarter, topping analysts’ consensus estimates of $2.71 by $1.52. Northern Trust had a net margin of 14.76% and a return on equity of 16.91%. The firm had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.69 billion. During the same period in the previous year, the business posted $2.13 earnings per share. The business’s revenue for the quarter was up 35.1% on a year-over-year basis. Equities analysts forecast that Northern Trust Corporation will post 11.59 earnings per share for the current fiscal year.

Northern Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 4th will be paid a $0.88 dividend. This is a positive change from Northern Trust’s previous quarterly dividend of $0.80. The ex-dividend date is Friday, September 4th. This represents a $3.52 annualized dividend and a dividend yield of 1.9%. Northern Trust’s dividend payout ratio (DPR) is currently 27.47%.

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.