Northern Trust Corporation $NTRS Shares Sold by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ cut its holdings in shares of Northern Trust Corporation (NASDAQ:NTRS) by 39.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 52,645 shares of the asset manager’s stock after selling 34,089 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Northern Trust were worth $7,085,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Tobam grew its position in shares of Northern Trust by 45.7% in the third quarter. Tobam now owns 8,637 shares of the asset manager’s stock valued at $1,163,000 after purchasing an additional 2,709 shares in the last quarter. Fifth Third Bancorp boosted its stake in Northern Trust by 2.5% during the third quarter. Fifth Third Bancorp now owns 11,410 shares of the asset manager’s stock worth $1,536,000 after buying an additional 277 shares during the last quarter. State of New Jersey Common Pension Fund D grew its holdings in Northern Trust by 4.2% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 64,081 shares of the asset manager’s stock valued at $8,625,000 after buying an additional 2,573 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in Northern Trust by 1.5% in the 3rd quarter. PNC Financial Services Group Inc. now owns 121,311 shares of the asset manager’s stock valued at $16,328,000 after buying an additional 1,763 shares in the last quarter. Finally, HighTower Advisors LLC increased its stake in shares of Northern Trust by 11.5% in the 3rd quarter. HighTower Advisors LLC now owns 23,791 shares of the asset manager’s stock worth $3,202,000 after acquiring an additional 2,463 shares during the last quarter. Institutional investors and hedge funds own 83.19% of the company’s stock.

Northern Trust Trading Down 1.7%

NASDAQ NTRS opened at $145.02 on Friday. The firm has a market cap of $27.43 billion, a price-to-earnings ratio of 16.59, a PEG ratio of 1.18 and a beta of 1.27. Northern Trust Corporation has a one year low of $81.62 and a one year high of $157.60. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.70 and a current ratio of 0.69. The firm has a 50 day simple moving average of $144.77 and a 200-day simple moving average of $134.66.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings results on Friday, January 30th. The asset manager reported $2.42 EPS for the quarter, beating the consensus estimate of $2.37 by $0.05. Northern Trust had a net margin of 12.15% and a return on equity of 14.87%. The company had revenue of $3.15 billion during the quarter. During the same period in the prior year, the business earned $2.26 EPS. The business’s quarterly revenue was up 8.4% on a year-over-year basis. Equities research analysts anticipate that Northern Trust Corporation will post 8.27 EPS for the current fiscal year.

Northern Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Friday, March 6th will be issued a dividend of $0.80 per share. The ex-dividend date is Friday, March 6th. This represents a $3.20 annualized dividend and a yield of 2.2%. Northern Trust’s dividend payout ratio is 36.61%.

Wall Street Analyst Weigh In

NTRS has been the subject of a number of analyst reports. Evercore upped their price objective on shares of Northern Trust from $142.00 to $155.00 and gave the company an “in-line” rating in a report on Friday, January 23rd. Royal Bank Of Canada raised their price target on shares of Northern Trust from $139.00 to $159.00 and gave the stock an “outperform” rating in a report on Friday, January 23rd. Truist Financial set a $148.00 price objective on Northern Trust in a report on Wednesday, January 7th. Zacks Research upgraded Northern Trust from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 23rd. Finally, Wells Fargo & Company lifted their target price on Northern Trust from $145.00 to $150.00 and gave the company an “equal weight” rating in a research report on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $148.75.

Insider Activity

In other news, Director Richard Petrino acquired 1,000 shares of the firm’s stock in a transaction dated Thursday, February 5th. The stock was acquired at an average cost of $148.91 per share, with a total value of $148,910.00. Following the transaction, the director owned 3,332 shares in the company, valued at approximately $496,168.12. This trade represents a 42.88% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Robert Edward Jr. Moritz acquired 245 shares of the stock in a transaction dated Monday, February 2nd. The shares were acquired at an average cost of $151.85 per share, with a total value of $37,203.25. Following the completion of the transaction, the director owned 6,931 shares in the company, valued at approximately $1,052,472.35. This represents a 3.66% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders sold 27,191 shares of company stock valued at $4,061,028. 0.77% of the stock is owned by corporate insiders.

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.