Andra AP fonden Invests $4.36 Million in Northern Trust Corporation $NTRS

Andra AP fonden purchased a new position in shares of Northern Trust Corporation (NASDAQ:NTRS) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 34,400 shares of the asset manager’s stock, valued at approximately $4,362,000.

Other large investors have also modified their holdings of the company. FNY Investment Advisers LLC acquired a new position in Northern Trust during the second quarter worth about $25,000. Hantz Financial Services Inc. grew its holdings in shares of Northern Trust by 5,225.0% during the second quarter. Hantz Financial Services Inc. now owns 213 shares of the asset manager’s stock worth $27,000 after buying an additional 209 shares in the last quarter. Zions Bancorporation National Association UT acquired a new stake in shares of Northern Trust during the first quarter worth $29,000. GFG Capital LLC acquired a new position in shares of Northern Trust during the 2nd quarter valued at about $35,000. Finally, Harbor Investment Advisory LLC boosted its holdings in shares of Northern Trust by 68.4% in the 2nd quarter. Harbor Investment Advisory LLC now owns 320 shares of the asset manager’s stock valued at $41,000 after purchasing an additional 130 shares during the last quarter. 83.19% of the stock is owned by hedge funds and other institutional investors.

Northern Trust Trading Up 1.3%

NASDAQ NTRS opened at $129.96 on Friday. The firm’s 50 day moving average price is $129.23 and its two-hundred day moving average price is $120.79. The stock has a market cap of $24.58 billion, a price-to-earnings ratio of 15.15, a PEG ratio of 1.37 and a beta of 1.32. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.72 and a current ratio of 0.70. Northern Trust Corporation has a twelve month low of $81.62 and a twelve month high of $135.48.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings data on Wednesday, October 22nd. The asset manager reported $2.29 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.03. The firm had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.02 billion. Northern Trust had a return on equity of 14.37% and a net margin of 11.99%.The business’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period last year, the company posted $2.22 EPS. Equities analysts anticipate that Northern Trust Corporation will post 8.27 EPS for the current year.

Northern Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 1st. Shareholders of record on Friday, December 5th will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Friday, December 5th. Northern Trust’s dividend payout ratio is presently 37.30%.

Insider Buying and Selling

In other news, EVP Susan Cohen Levy sold 27,591 shares of the firm’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $128.13, for a total transaction of $3,535,234.83. Following the transaction, the executive vice president owned 48,257 shares in the company, valued at approximately $6,183,169.41. This trade represents a 36.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert Edward Jr. Moritz bought 3,891 shares of the stock in a transaction on Tuesday, November 4th. The shares were acquired at an average cost of $128.57 per share, for a total transaction of $500,265.87. Following the completion of the transaction, the director directly owned 6,686 shares of the company’s stock, valued at approximately $859,619.02. The trade was a 139.21% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 4,417 shares of company stock valued at $566,807 over the last quarter. Corporate insiders own 0.77% of the company’s stock.

Wall Street Analysts Forecast Growth

NTRS has been the topic of a number of recent research reports. Wall Street Zen cut shares of Northern Trust from a “hold” rating to a “sell” rating in a research report on Saturday, October 25th. Evercore ISI boosted their target price on shares of Northern Trust from $125.00 to $135.00 and gave the stock an “in-line” rating in a research report on Tuesday, September 30th. Barclays raised their price target on shares of Northern Trust from $128.00 to $136.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 24th. Citigroup increased their target price on Northern Trust from $110.00 to $135.00 and gave the stock a “neutral” rating in a research report on Friday, September 5th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Northern Trust in a research note on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $130.71.

About Northern Trust

Northern Trust Corporation, a financial holding company, provides wealth management, asset servicing, asset management, and banking solutions for corporations, institutions, families, and individuals worldwide. It operates in two segments, Asset Servicing and Wealth Management. The Asset Servicing segment offers asset servicing and related services, including custody, fund administration, investment operations outsourcing, investment management, investment risk and analytical services, employee benefit services, securities lending, foreign exchange, treasury management, brokerage services, transition management services, banking, and cash management services.