1,884,542 Shares in Northern Trust Corporation $NTRS Purchased by Norges Bank

Norges Bank bought a new position in shares of Northern Trust Corporation (NASDAQ:NTRS) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,884,542 shares of the asset manager’s stock, valued at approximately $257,410,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. New Age Alpha Advisors LLC grew its holdings in Northern Trust by 4.9% during the third quarter. New Age Alpha Advisors LLC now owns 1,659 shares of the asset manager’s stock worth $223,000 after acquiring an additional 78 shares during the period. Compound Planning Inc. grew its holdings in Northern Trust by 5.1% during the third quarter. Compound Planning Inc. now owns 1,666 shares of the asset manager’s stock worth $224,000 after acquiring an additional 81 shares during the period. Apollon Wealth Management LLC grew its holdings in Northern Trust by 1.9% during the fourth quarter. Apollon Wealth Management LLC now owns 4,379 shares of the asset manager’s stock worth $598,000 after acquiring an additional 81 shares during the period. NorthRock Partners LLC grew its holdings in Northern Trust by 2.2% during the third quarter. NorthRock Partners LLC now owns 3,812 shares of the asset manager’s stock worth $513,000 after acquiring an additional 83 shares during the period. Finally, HighPoint Advisor Group LLC grew its holdings in Northern Trust by 2.3% during the third quarter. HighPoint Advisor Group LLC now owns 3,717 shares of the asset manager’s stock worth $500,000 after acquiring an additional 84 shares during the period. 83.19% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NTRS has been the topic of several analyst reports. Wells Fargo & Company raised their target price on Northern Trust from $150.00 to $175.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 22nd. Citigroup initiated coverage on Northern Trust in a report on Monday, February 23rd. They set a “neutral” rating on the stock. Truist Financial increased their price target on Northern Trust from $155.00 to $176.00 and gave the stock a “hold” rating in a research report on Wednesday, April 22nd. Zacks Research upgraded Northern Trust from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. Finally, Barclays increased their price target on Northern Trust from $160.00 to $176.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Northern Trust presently has an average rating of “Hold” and an average price target of $164.08.

Insider Transactions at Northern Trust

In other news, Director Robert Edward Jr. Moritz bought 225 shares of the firm’s stock in a transaction dated Friday, May 1st. The shares were acquired at an average price of $166.41 per share, for a total transaction of $37,442.25. Following the completion of the transaction, the director directly owned 8,145 shares in the company, valued at $1,355,409.45. The trade was a 2.84% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Clive Bellows sold 2,800 shares of the firm’s stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $165.02, for a total value of $462,056.00. Following the completion of the transaction, the insider owned 28,217 shares in the company, valued at approximately $4,656,369.34. This trade represents a 9.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 25,809 shares of company stock worth $4,213,702. 0.66% of the stock is owned by insiders.

Northern Trust Stock Performance

Shares of NTRS stock opened at $169.79 on Wednesday. The company has a market capitalization of $31.42 billion, a P/E ratio of 17.78, a P/E/G ratio of 1.21 and a beta of 1.25. The business’s 50 day moving average is $156.95 and its two-hundred day moving average is $146.28. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.51. Northern Trust Corporation has a 12-month low of $104.99 and a 12-month high of $173.18.

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

Northern Trust Dividend Announcement

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

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.