DnB Asset Management AS Sells 112 Shares of Northern Trust Co. (NASDAQ:NTRS)

DnB Asset Management AS trimmed its stake in Northern Trust Co. (NASDAQ:NTRSGet Rating) by 0.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,822 shares of the asset manager’s stock after selling 112 shares during the quarter. DnB Asset Management AS’s holdings in Northern Trust were worth $2,974,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of Northern Trust by 2.1% during the first quarter. Vanguard Group Inc. now owns 22,711,584 shares of the asset manager’s stock valued at $2,644,763,000 after purchasing an additional 457,748 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Northern Trust by 1.7% during the first quarter. BlackRock Inc. now owns 15,680,680 shares of the asset manager’s stock valued at $1,826,014,000 after purchasing an additional 260,843 shares in the last quarter. State Street Corp lifted its holdings in shares of Northern Trust by 3.0% during the fourth quarter. State Street Corp now owns 9,756,050 shares of the asset manager’s stock valued at $1,173,602,000 after purchasing an additional 284,401 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Northern Trust by 0.7% during the first quarter. JPMorgan Chase & Co. now owns 7,138,234 shares of the asset manager’s stock valued at $831,248,000 after purchasing an additional 51,625 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of Northern Trust by 1.5% during the first quarter. American Century Companies Inc. now owns 4,814,305 shares of the asset manager’s stock valued at $560,626,000 after purchasing an additional 72,434 shares in the last quarter. 83.59% of the stock is owned by institutional investors.

Northern Trust Stock Performance

Shares of NTRS opened at $93.59 on Wednesday. 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 business has a 50-day simple moving average of $97.97 and a two-hundred day simple moving average of $103.61. The stock has a market cap of $19.50 billion, a price-to-earnings ratio of 12.75 and a beta of 1.12. Northern Trust Co. has a 52 week low of $89.68 and a 52 week high of $135.15.

Northern Trust (NASDAQ:NTRSGet Rating) last released its earnings results on Wednesday, July 20th. The asset manager reported $1.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.93 by ($0.07). Northern Trust had a return on equity of 14.82% and a net margin of 23.13%. The business had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter in the prior year, the business posted $1.72 EPS. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. On average, analysts expect that Northern Trust Co. will post 7.45 EPS for the current year.

Northern Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, October 1st. Investors of record on Friday, September 9th will be given a dividend of $0.75 per share. The ex-dividend date is Thursday, September 8th. This represents a $3.00 annualized dividend and a dividend yield of 3.21%. This is a boost from Northern Trust’s previous quarterly dividend of $0.70. Northern Trust’s dividend payout ratio (DPR) is currently 40.87%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on NTRS shares. Deutsche Bank Aktiengesellschaft upped their price target on Northern Trust from $112.00 to $123.00 and gave the company a “buy” rating in a report on Friday, August 12th. Barclays lowered their target price on Northern Trust from $140.00 to $120.00 and set an “equal weight” rating on the stock in a report on Thursday, July 21st. Royal Bank of Canada lowered their target price on Northern Trust from $133.00 to $110.00 and set an “outperform” rating on the stock in a report on Friday, July 1st. JPMorgan Chase & Co. lowered their target price on Northern Trust from $115.00 to $107.50 in a report on Monday, July 11th. Finally, Citigroup lowered their target price on Northern Trust from $125.00 to $100.00 in a report on Tuesday, July 12th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $120.19.

Northern Trust Company Profile

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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, Corporate & Institutional Services (C&IS) and Wealth Management.

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Institutional Ownership by Quarter for Northern Trust (NASDAQ:NTRS)

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