Nordea Investment Management AB Grows Holdings in Northern Trust Co. (NASDAQ:NTRS) (2024)

Nordea Investment Management AB increased its stake in Northern Trust Co. (NASDAQ:NTRS – Free Report) by 3.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,104 shares of the asset manager’s stock after buying an additional 505 shares during the period. Nordea Investment Management AB’s holdings in Northern Trust were worth $1,253,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Primecap Management Co. CA raised its stake in shares of Northern Trust by 6.1% during the fourth quarter. Primecap Management Co. CA now owns 6,891,902 shares of the asset manager’s stock valued at $581,539,000 after acquiring an additional 394,855 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Northern Trust by 31.2% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 6,533,855 shares of the asset manager’s stock worth $551,327,000 after buying an additional 1,553,783 shares during the period. Wellington Management Group LLP grew its position in shares of Northern Trust by 140.2% during the 4th quarter. Wellington Management Group LLP now owns 5,802,792 shares of the asset manager’s stock worth $489,640,000 after buying an additional 3,387,002 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Northern Trust by 0.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,771,463 shares of the asset manager’s stock valued at $149,485,000 after acquiring an additional 8,724 shares in the last quarter. Finally, Confluence Investment Management LLC bought a new stake in shares of Northern Trust in the first quarter valued at about $105,665,000. 83.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Evercore ISI boosted their price target on shares of Northern Trust from $86.00 to $87.00 and gave the company an “in-line” rating in a report on Thursday, April 4th. Keefe, Bruyette & Woods dropped their target price on Northern Trust from $92.00 to $85.00 and set a “market perform” rating on the stock in a research report on Thursday, June 27th. Bank of America boosted their price target on Northern Trust from $93.00 to $101.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. The Goldman Sachs Group dropped their price objective on Northern Trust from $94.00 to $84.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 2nd. Finally, Jefferies Financial Group boosted their target price on shares of Northern Trust from $101.00 to $103.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $86.42.

Insider Activity

In related news, insider Peter Cherecwich sold 12,000 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $87.09, for a total transaction of $1,045,080.00. Following the completion of the transaction, the insider now directly owns 31,471 shares in the company, valued at $2,740,809.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Steven L. Fradkin sold 4,097 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $82.56, for a total transaction of $338,248.32. Following the sale, the insider now owns 46,078 shares of the company’s stock, valued at approximately $3,804,199.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Peter Cherecwich sold 12,000 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $87.09, for a total transaction of $1,045,080.00. Following the completion of the transaction, the insider now owns 31,471 shares of the company’s stock, valued at $2,740,809.39. The disclosure for this sale can be found here. Insiders own 0.64% of the company’s stock.

Northern Trust Price Performance

Shares of NTRS opened at $86.86 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.71. The company’s fifty day moving average price is $83.77 and its 200-day moving average price is $83.18. Northern Trust Co. has a 1-year low of $62.44 and a 1-year high of $89.25. The firm has a market capitalization of $17.77 billion, a PE ratio of 19.17, a price-to-earnings-growth ratio of 1.19 and a beta of 1.10.

Northern Trust (NASDAQ:NTRS – Get Free Report) last posted its quarterly earnings results on Tuesday, April 16th. The asset manager reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.23. Northern Trust had a return on equity of 12.57% and a net margin of 7.59%. The business had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.79 billion. On average, equities research analysts predict that Northern Trust Co. will post 6.92 EPS for the current year.

Northern Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 7th were paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 3.45%. The ex-dividend date was Friday, June 7th. Northern Trust’s payout ratio is 66.23%.

Northern Trust Company Profile

(Free Report)

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.

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