Mission Wealth Management LP Decreases Stock Holdings in Northern Trust Corporation $NTRS

Mission Wealth Management LP trimmed its holdings in Northern Trust Corporation (NASDAQ:NTRS) by 7.8% during the second quarter, HoldingsChannel reports. The firm owned 7,798 shares of the asset manager’s stock after selling 658 shares during the period. Mission Wealth Management LP’s holdings in Northern Trust were worth $989,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in NTRS. FNY Investment Advisers LLC purchased a new position in Northern Trust during the second quarter worth approximately $25,000. Hantz Financial Services Inc. raised its holdings in shares of Northern Trust by 5,225.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 213 shares of the asset manager’s stock worth $27,000 after acquiring an additional 209 shares during the period. Zions Bancorporation National Association UT purchased a new position in shares of Northern Trust during the 1st quarter worth $29,000. Wayfinding Financial LLC purchased a new position in shares of Northern Trust during the 1st quarter worth $35,000. Finally, GFG Capital LLC purchased a new position in shares of Northern Trust during the 2nd quarter worth $35,000. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Insider Transactions at Northern Trust

In other Northern Trust news, Director Robert Edward Jr. Moritz purchased 270 shares of the business’s stock in a transaction on Monday, October 27th. The shares were bought at an average cost of $126.66 per share, for a total transaction of $34,198.20. Following the completion of the purchase, the director directly owned 2,795 shares of the company’s stock, valued at approximately $354,014.70. This trade represents a 10.69% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.77% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

NTRS has been the topic of a number of analyst reports. BMO Capital Markets initiated coverage on shares of Northern Trust in a research note on Friday, October 3rd. They set a “market perform” rating and a $142.00 target price on the stock. Truist Financial reduced their price target on shares of Northern Trust from $142.00 to $139.00 and set a “hold” rating on the stock in a research report on Thursday, October 23rd. Cowen reaffirmed a “buy” rating on shares of Northern Trust in a research report on Thursday, October 23rd. Citigroup lifted their target price on Northern Trust from $110.00 to $135.00 and gave the company a “neutral” rating in a research report on Friday, September 5th. Finally, Keefe, Bruyette & Woods lifted their target price on Northern Trust from $123.00 to $125.00 and gave the company an “underperform” rating in a research report on Thursday, October 23rd. Five research analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Northern Trust presently has a consensus rating of “Hold” and an average target price of $130.71.

Northern Trust Stock Down 0.8%

Shares of NASDAQ NTRS opened at $127.68 on Tuesday. The company has a quick ratio of 0.72, a current ratio of 0.70 and a debt-to-equity ratio of 0.58. The business’s 50 day moving average is $129.46 and its two-hundred day moving average is $120.11. Northern Trust Corporation has a 52-week low of $81.62 and a 52-week high of $135.48. The firm has a market cap of $24.42 billion, a price-to-earnings ratio of 14.88, a PEG ratio of 1.37 and a beta of 1.31.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings results on Wednesday, October 22nd. The asset manager reported $2.29 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.03. The company had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $2.02 billion. Northern Trust had a return on equity of 14.37% and a net margin of 11.99%.The firm’s revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.22 earnings per share. Research analysts predict that Northern Trust Corporation will post 8.27 EPS for the current year.

Northern Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 1st. Shareholders of record on Friday, December 5th will be paid a dividend of $0.80 per share. The ex-dividend date is Friday, December 5th. This represents a $3.20 dividend on an annualized basis and a yield of 2.5%. Northern Trust’s dividend payout ratio is 37.30%.

About Northern Trust

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.