Raiffeisen Bank International AG Has $52.73 Million Stock Position in Northern Trust Corporation $NTRS

Raiffeisen Bank International AG reduced its holdings in shares of Northern Trust Corporation (NASDAQ:NTRS) by 1.8% in the 2nd quarter, Holdings Channel.com reports. The fund owned 301,475 shares of the asset manager’s stock after selling 5,559 shares during the period. Raiffeisen Bank International AG’s holdings in Northern Trust were worth $52,731,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Continuum Advisory LLC bought a new stake in shares of Northern Trust in the second quarter worth $26,000. Keating Financial Advisory Services Inc. bought a new position in Northern Trust in the second quarter valued at $31,000. Reflection Asset Management bought a new position in Northern Trust in the fourth quarter valued at $25,000. Triumph Capital Management acquired a new stake in Northern Trust in the 3rd quarter valued at $25,000. Finally, Basecamp Wealth Advisors LLC increased its stake in Northern Trust by 99.0% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 203 shares of the asset manager’s stock valued at $28,000 after buying an additional 101 shares during the last quarter. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Northern Trust Stock Up 1.9%

Northern Trust stock opened at $187.45 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.65 and a quick ratio of 0.65. The company’s 50-day moving average is $183.62 and its 200-day moving average is $165.70. The firm has a market capitalization of $34.30 billion, a PE ratio of 16.09, a P/E/G ratio of 1.04 and a beta of 1.24. Northern Trust Corporation has a fifty-two week low of $121.12 and a fifty-two week high of $195.78.

Northern Trust (NASDAQ:NTRS) last issued its earnings results on Wednesday, July 22nd. The asset manager reported $4.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.71 by $1.52. Northern Trust had a net margin of 14.76% and a return on equity of 16.91%. The business had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.69 billion. During the same period last year, the business posted $2.13 EPS. Northern Trust’s revenue was up 35.1% on a year-over-year basis. Sell-side analysts anticipate that Northern Trust Corporation will post 11.59 earnings per share for the current 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. The ex-dividend date of this dividend is Friday, September 4th. This is a positive change from Northern Trust’s previous quarterly dividend of $0.80. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.9%. Northern Trust’s payout ratio is 27.47%.

Analyst Ratings Changes

A number of equities analysts have recently commented on NTRS shares. JPMorgan Chase & Co. increased their price objective on shares of Northern Trust from $179.50 to $185.50 and gave the stock a “neutral” rating in a research note on Tuesday, August 4th. Truist Financial lifted their target price on Northern Trust from $176.00 to $186.00 and gave the company a “hold” rating in a research report on Friday, June 26th. Bank of America upped their target price on Northern Trust from $190.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. Evercore set a $179.00 price target on Northern Trust in a research report on Monday, July 6th. Finally, UBS Group set a $186.00 price target on Northern Trust in a research note on Friday, June 26th. Four analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $180.68.

Insider Buying and Selling

In other news, EVP Thomas A. South sold 1,800 shares of Northern Trust stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $184.90, for a total transaction of $332,820.00. Following the completion of the transaction, the executive vice president directly owned 92,917 shares in the company, valued at approximately $17,180,353.30. The trade was a 1.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robert Moritz, Jr. bought 255 shares of the firm’s stock in a transaction that occurred on Wednesday, July 29th. The shares were acquired at an average cost of $179.57 per share, for a total transaction of $45,790.35. Following the completion of the acquisition, the director directly owned 8,400 shares in the company, valued at $1,508,388. The trade was a 3.13% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 0.66% of the company’s stock.

About Northern Trust

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.