Danske Bank A S Invests $22.24 Million in Northern Trust Corporation $NTRS

Danske Bank A S acquired a new position in shares of Northern Trust Corporation (NASDAQ:NTRS) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 127,930 shares of the asset manager’s stock, valued at approximately $22,239,000.

Several other hedge funds have also made changes to their positions in the stock. Concurrent Investment Advisors LLC acquired a new stake in shares of Northern Trust during the 4th quarter worth approximately $1,959,000. Goldman Sachs Group Inc. increased its position in shares of Northern Trust by 5.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,894,755 shares of the asset manager’s stock valued at $395,395,000 after purchasing an additional 161,826 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in shares of Northern Trust by 1,838.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 180,034 shares of the asset manager’s stock valued at $22,793,000 after purchasing an additional 170,745 shares in the last quarter. PFA Pension Forsikringsaktieselskab bought a new position in Northern Trust in the fourth quarter worth $67,126,000. Finally, Strs Ohio lifted its position in Northern Trust by 83.0% in the fourth quarter. Strs Ohio now owns 136,403 shares of the asset manager’s stock worth $18,631,000 after purchasing an additional 61,858 shares during the period. Institutional investors own 83.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on NTRS shares. Truist Financial lifted their price target 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. Zacks Research upgraded shares of Northern Trust from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. UBS Group set a $186.00 price objective on shares of Northern Trust in a report on Friday, June 26th. Evercore set a $179.00 target price on shares of Northern Trust in a research report on Monday, July 6th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Northern Trust in a research note on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $180.68.

Insider Activity

In related news, Director Robert Edward Jr. Moritz acquired 255 shares of the company’s stock in a transaction that occurred on Wednesday, July 29th. The stock was purchased at an average price of $179.57 per share, for a total transaction of $45,790.35. Following the transaction, the director directly owned 8,400 shares of the company’s stock, valued at approximately $1,508,388. This trade represents a 3.13% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.66% of the company’s stock.

Northern Trust Stock Down 1.6%

NASDAQ NTRS opened at $182.51 on Friday. The firm has a market cap of $33.39 billion, a PE ratio of 15.67, a price-to-earnings-growth ratio of 1.04 and a beta of 1.25. Northern Trust Corporation has a one year low of $121.12 and a one year high of $195.78. The stock’s 50 day simple moving average is $181.32 and its 200 day simple moving average is $163.13. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.65 and a quick ratio of 0.65.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings data 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. The firm had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.69 billion. Northern Trust had a return on equity of 16.91% and a net margin of 14.76%.The business’s revenue for the quarter was up 35.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.13 EPS. As a group, sell-side analysts forecast that Northern Trust Corporation will post 11.59 earnings per share for the current fiscal year.

Northern Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 4th will be given a dividend of $0.88 per share. This is a positive change from Northern Trust’s previous quarterly dividend of $0.80. The ex-dividend date is Friday, September 4th. This represents a $3.52 annualized dividend and a yield of 1.9%. Northern Trust’s dividend payout ratio is currently 27.47%.

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.