Northern Trust Corporation $NTRS Shares Sold by InvesTrust

InvesTrust decreased its position in Northern Trust Corporation (NASDAQ:NTRS) by 13.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 20,686 shares of the asset manager’s stock after selling 3,104 shares during the period. Northern Trust makes up approximately 1.3% of InvesTrust’s holdings, making the stock its 25th biggest position. InvesTrust’s holdings in Northern Trust were worth $3,503,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. Continuum Advisory LLC bought a new stake in shares of Northern Trust during the second quarter valued at approximately $26,000. NBH Bank acquired a new stake in Northern Trust in the 2nd quarter valued at approximately $30,000. Keating Financial Advisory Services Inc. bought a new stake in Northern Trust during the 2nd quarter valued at $31,000. Reflection Asset Management bought a new stake in Northern Trust during the 4th quarter valued at $25,000. Finally, Basecamp Wealth Advisors LLC raised its stake in Northern Trust by 99.0% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 203 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 101 shares in the last quarter. Institutional investors and hedge funds own 83.19% of the company’s stock.

Insiders Place Their Bets

In other news, Director Robert Moritz, Jr. bought 255 shares of the stock in a transaction that occurred on Wednesday, July 29th. The shares were purchased at an average cost of $179.57 per share, with a total value of $45,790.35. Following the completion of the acquisition, the director directly owned 8,400 shares in the company, valued at approximately $1,508,388. The trade was a 3.13% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Thomas South sold 1,800 shares of Northern Trust stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $184.90, for a total value of $332,820.00. Following 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.66% of the stock is currently owned by insiders.

Northern Trust Price Performance

NASDAQ NTRS opened at $162.64 on Thursday. Northern Trust Corporation has a 12 month low of $121.12 and a 12 month high of $195.78. The firm has a market capitalization of $29.76 billion, a PE ratio of 15.71, a P/E/G ratio of 0.95 and a beta of 1.24. The company’s 50 day simple moving average is $180.31 and its 200 day simple moving average is $172.73. 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 released its earnings results on Wednesday, July 22nd. The asset manager reported $4.23 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm’s revenue for the quarter was up 35.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.13 earnings per share. As a group, equities research analysts forecast that Northern Trust Corporation will post 11.65 EPS for the current fiscal year.

Northern Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Friday, September 4th were paid a $0.88 dividend. The ex-dividend date of this dividend was Friday, September 4th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.2%. This is a boost from Northern Trust’s previous quarterly dividend of $0.80. Northern Trust’s dividend payout ratio (DPR) is presently 30.21%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. BMO Capital Markets decreased their price target on Northern Trust from $208.00 to $190.00 and set an “outperform” rating for the company in a research note on Tuesday, October 6th. Morgan Stanley lifted their price objective on shares of Northern Trust from $170.00 to $173.00 and gave the company an “underweight” rating in a research note on Thursday, July 23rd. Royal Bank Of Canada cut shares of Northern Trust from an “outperform” rating to a “sector perform” rating and set a $178.00 price objective on the stock. in a research note on Wednesday, July 22nd. Zacks Research downgraded shares of Northern Trust from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 25th. Finally, Bank of America increased their target price on shares of Northern Trust from $190.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Three equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Northern Trust has an average rating of “Hold” and an average target price of $183.93.

About Northern Trust

Northern Trust Corporation is a financial services company headquartered in Chicago, Illinois. Founded in 1889, the company provides wealth management, asset servicing, asset management and banking services to corporations, institutions, affluent individuals and families, and financial professionals.

Through its wealth management business, Northern Trust offers investment management, financial planning, trust and estate services, private banking, and family office solutions. Its asset servicing and banking operations support institutional investors and businesses with custody, fund administration, securities lending, foreign exchange, treasury services, capital markets, and related banking solutions.

Northern Trust serves clients through operations in the United States and international markets, including Canada, Europe, the Middle East and the Asia-Pacific region.