IFP Advisors Inc Has $127,000 Position in Northern Trust Corporation $NTRS

IFP Advisors Inc lessened its holdings in shares of Northern Trust Corporation (NASDAQ:NTRS) by 27.4% in the second quarter, Holdings Channel.com reports. The fund owned 1,002 shares of the asset manager’s stock after selling 378 shares during the quarter. IFP Advisors Inc’s holdings in Northern Trust were worth $127,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp grew its holdings in Northern Trust by 47.8% during the 1st quarter. Bank of New York Mellon Corp now owns 1,810,816 shares of the asset manager’s stock worth $178,637,000 after acquiring an additional 585,992 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in Northern Trust by 4.9% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 7,850,088 shares of the asset manager’s stock worth $774,411,000 after acquiring an additional 363,472 shares during the period. Asset Management One Co. Ltd. grew its holdings in Northern Trust by 8.4% during the 1st quarter. Asset Management One Co. Ltd. now owns 84,974 shares of the asset manager’s stock worth $8,383,000 after acquiring an additional 6,570 shares during the period. Allianz Asset Management GmbH grew its holdings in Northern Trust by 529.4% during the 1st quarter. Allianz Asset Management GmbH now owns 461,383 shares of the asset manager’s stock worth $45,515,000 after acquiring an additional 388,081 shares during the period. Finally, Kathmere Capital Management LLC grew its holdings in Northern Trust by 96.7% during the 1st quarter. Kathmere Capital Management LLC now owns 5,239 shares of the asset manager’s stock worth $517,000 after acquiring an additional 2,575 shares during the period. Institutional investors and hedge funds own 83.19% of the company’s stock.

Northern Trust Trading Up 0.2%

NTRS opened at $124.82 on Friday. The stock has a market capitalization of $23.87 billion, a P/E ratio of 14.67, a P/E/G ratio of 1.39 and a beta of 1.31. Northern Trust Corporation has a 12 month low of $81.62 and a 12 month high of $135.48. The firm’s fifty day simple moving average is $129.58 and its 200 day simple moving average is $116.71. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.58.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings results on Wednesday, July 23rd. The asset manager reported $2.13 EPS for the quarter, topping the consensus estimate of $2.08 by $0.05. Northern Trust had a net margin of 11.75% and a return on equity of 14.06%. The firm had revenue of $2 billion for the quarter, compared to analysts’ expectations of $1.96 billion. During the same period in the previous year, the firm posted $4.34 EPS. The company’s revenue for the quarter was down 26.4% on a year-over-year basis. As a group, research analysts anticipate that Northern Trust Corporation will post 8.27 EPS for the current fiscal year.

Northern Trust Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Friday, September 5th were given a dividend of $0.80 per share. This is a boost from Northern Trust’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Friday, September 5th. This represents a $3.20 annualized dividend and a yield of 2.6%. Northern Trust’s payout ratio is presently 37.60%.

Insider Buying and Selling

In other Northern Trust news, Director Robert Edward Jr. Moritz purchased 256 shares of the business’s stock in a transaction on Wednesday, August 13th. The shares were purchased at an average cost of $126.34 per share, with a total value of $32,343.04. Following the transaction, the director directly owned 2,525 shares of the company’s stock, valued at $319,008.50. This represents a 11.28% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.77% of the stock is owned by company insiders.

Analysts Set New Price Targets

NTRS has been the topic of a number of recent analyst reports. BMO Capital Markets initiated coverage on shares of Northern Trust in a research report on Friday, October 3rd. They set a “market perform” rating and a $142.00 price target on the stock. Citigroup lifted their price target on shares of Northern Trust from $110.00 to $135.00 and gave the stock a “neutral” rating in a research report on Friday, September 5th. The Goldman Sachs Group set a $135.00 price target on shares of Northern Trust in a research report on Tuesday, September 30th. Royal Bank Of Canada set a $123.00 price target on shares of Northern Trust and gave the stock an “outperform” rating in a research report on Monday, June 30th. Finally, Barclays lifted their price target on shares of Northern Trust from $128.00 to $136.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 24th. Four research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $128.23.

Northern Trust Company Profile

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.