Northern Trust Corporation $NTRS Stock Sold by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC decreased its holdings in Northern Trust Corporation (NASDAQ:NTRS) by 79.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,497 shares of the asset manager’s stock after selling 5,823 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Northern Trust were worth $254,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of Northern Trust during the second quarter valued at $2,523,781,000. Primecap Management Co. CA acquired a new stake in shares of Northern Trust during the second quarter valued at approximately $1,060,553,000. Bank of New York Mellon Corp purchased a new stake in shares of Northern Trust in the second quarter valued at $361,079,000. Dimensional Fund Advisors LP grew its stake in Northern Trust by 1.5% in the first quarter. Dimensional Fund Advisors LP now owns 2,455,996 shares of the asset manager’s stock valued at $342,744,000 after purchasing an additional 36,322 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its stake in shares of Northern Trust by 2.0% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,500,961 shares of the asset manager’s stock worth $254,203,000 after purchasing an additional 29,490 shares during the last quarter. Institutional investors and hedge funds own 83.19% of the company’s stock.

Northern Trust Trading Down 2.2%

Shares of Northern Trust stock opened at $169.16 on Friday. Northern Trust Corporation has a 1 year low of $121.53 and a 1 year high of $195.78. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.61 and a quick ratio of 0.65. The business has a fifty day simple moving average of $175.52 and a two-hundred day simple moving average of $165.29. The company has a market capitalization of $30.95 billion, a price-to-earnings ratio of 13.26, a P/E/G ratio of 0.87 and a beta of 1.24.

Northern Trust (NASDAQ:NTRS) last released its earnings results on Wednesday, October 21st. The asset manager reported $3.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.87 by $0.53. The firm had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.26 billion. Northern Trust had a return on equity of 17.97% and a net margin of 15.86%. The company’s revenue was up 13.4% compared to the same quarter last year. During the same period in the prior year, the company posted $2.29 EPS. Research analysts forecast that Northern Trust Corporation will post 11.95 EPS for the current year.

Northern Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 1st. Shareholders of record on Friday, December 4th will be issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Friday, December 4th. Northern Trust’s dividend payout ratio (DPR) is presently 27.59%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on NTRS shares. JPMorgan Chase & Co. raised their price target on shares of Northern Trust from $185.00 to $191.50 and gave the stock a “neutral” rating in a research note on Friday. Citigroup cut their price objective on Northern Trust from $186.00 to $170.00 and set a “neutral” rating on the stock in a report on Friday, October 23rd. BMO Capital Markets dropped their target price on shares of Northern Trust from $208.00 to $190.00 and set an “outperform” rating on the stock in a report on Tuesday, October 6th. Royal Bank Of Canada downgraded shares of Northern Trust from an “outperform” rating to a “sector perform” rating and increased their price objective for the stock from $159.00 to $178.00 in a research report on Wednesday, July 22nd. Finally, Zacks Research cut Northern Trust from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 25th. Two research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $181.03.

Insider Transactions at Northern Trust

In other news, EVP Thomas South sold 1,800 shares of the company’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $184.90, for a total value of $332,820.00. Following the completion of the sale, the executive vice president owned 92,917 shares in the company, valued at $17,180,353.30. This represents a 1.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Susan Levy sold 3,922 shares of the stock in a transaction dated Monday, October 26th. The shares were sold at an average price of $168.69, for a total transaction of $661,602.18. Following the completion of the sale, the executive vice president owned 59,378 shares of the company’s stock, valued at approximately $10,016,474.82. This trade represents a 6.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 22,706 shares of company stock valued at $3,850,282 over the last ninety days. 0.66% of the stock is currently owned by corporate insiders.

Northern Trust Profile

Northern Trust Corporation (NASDAQ:NTRS) is a financial services company that provides wealth management, asset servicing, asset management and banking services. The company serves institutional investors, corporations, financial institutions, high-net-worth individuals and families.

Its offerings include custody and administration of investment assets, fund accounting, securities lending, foreign exchange, treasury services, investment management, trust and estate services, private banking and wealth planning.