Danica Pension Livsforsikringsaktieselskab Takes Position in Northern Trust Corporation $NTRS

Danica Pension Livsforsikringsaktieselskab acquired a new position in Northern Trust Corporation (NASDAQ:NTRS) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 57,416 shares of the asset manager’s stock, valued at approximately $9,981,000.

Several other hedge funds also recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in Northern Trust in the second quarter valued at about $2,523,781,000. Bank of New York Mellon Corp acquired a new stake in Northern Trust in the second quarter worth about $361,079,000. Norges Bank purchased a new stake in shares of Northern Trust during the fourth quarter worth about $257,410,000. Eurizon Capital SGR S.p.A. acquired a new position in shares of Northern Trust during the fourth quarter valued at about $126,794,000. Finally, Deutsche Bank AG acquired a new position in shares of Northern Trust during the second quarter valued at about $144,091,000. 83.19% of the stock is owned by institutional investors and hedge funds.

Northern Trust Price Performance

NASDAQ:NTRS opened at $190.58 on Wednesday. Northern Trust Corporation has a 52 week low of $121.12 and a 52 week high of $195.78. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $34.87 billion, a PE ratio of 16.36, a price-to-earnings-growth ratio of 1.08 and a beta of 1.25. The stock’s 50-day moving average price is $180.70 and its 200-day moving average price is $162.65.

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

Northern Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 4th will be given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.8%. This is a boost from Northern Trust’s previous quarterly dividend of $0.80. The ex-dividend date is Friday, September 4th. Northern Trust’s dividend payout ratio (DPR) is presently 27.47%.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Barclays lifted their target price on shares of Northern Trust from $176.00 to $189.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 23rd. Zacks Research upgraded shares of Northern Trust from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. Keefe, Bruyette & Woods raised their price target on shares of Northern Trust from $157.00 to $175.00 and gave the stock an “underperform” rating in a report on Thursday, July 9th. Truist Financial lifted their price objective on shares of Northern Trust from $176.00 to $186.00 and gave the stock a “hold” rating in a research note on Friday, June 26th. Finally, The Goldman Sachs Group boosted 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 investment 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 company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $180.68.

Insider Buying and Selling at Northern Trust

In other Northern Trust news, Director Robert Edward Jr. Moritz bought 255 shares of Northern Trust stock in a transaction dated Wednesday, July 29th. The stock was acquired at an average cost of $179.57 per share, with a total value of $45,790.35. Following the purchase, 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 acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 0.66% of the stock is currently owned by insiders.

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.