Northern Trust Corporation $NTRS Shares Sold by InvesTrust

InvesTrust cut its position in Northern Trust Corporation (NASDAQ:NTRS) by 58.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,582 shares of the asset manager’s stock after selling 41,373 shares during the quarter. Northern Trust accounts for 1.4% of InvesTrust’s holdings, making the stock its 21st largest holding. InvesTrust’s holdings in Northern Trust were worth $3,751,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Continuum Advisory LLC grew its stake in shares of Northern Trust by 5,340.0% in the first quarter. Continuum Advisory LLC now owns 272 shares of the asset manager’s stock valued at $27,000 after buying an additional 267 shares in the last quarter. Zions Bancorporation National Association UT acquired a new stake in shares of Northern Trust in the first quarter valued at $29,000. Harbor Investment Advisory LLC grew its stake in shares of Northern Trust by 68.4% in the second quarter. Harbor Investment Advisory LLC now owns 320 shares of the asset manager’s stock valued at $41,000 after buying an additional 130 shares in the last quarter. Wayfinding Financial LLC acquired a new stake in shares of Northern Trust in the first quarter valued at $35,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of Northern Trust in the first quarter valued at $43,000. 83.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and issued a $118.00 price objective (down from $120.00) on shares of Northern Trust in a research note on Thursday, July 24th. Wall Street Zen lowered Northern Trust from a “hold” rating to a “sell” rating in a report on Saturday, August 16th. Wells Fargo & Company lifted their target price on Northern Trust from $111.00 to $120.00 and gave the company an “equal weight” rating in a report on Thursday, July 24th. Evercore ISI lifted their target price on Northern Trust from $108.00 to $121.00 and gave the company an “in-line” rating in a report on Wednesday, July 2nd. Finally, Truist Financial lifted their target price on Northern Trust from $128.00 to $132.00 and gave the company a “hold” rating in a report on Thursday, August 14th. Two research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $119.58.

Northern Trust Stock Down 0.0%

Shares of NASDAQ NTRS opened at $129.42 on Friday. The company has a market capitalization of $24.75 billion, a price-to-earnings ratio of 15.21, a price-to-earnings-growth ratio of 1.54 and a beta of 1.30. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.72 and a quick ratio of 0.72. The business has a 50-day moving average of $127.95 and a two-hundred day moving average of $111.62. Northern Trust Corporation has a 1 year low of $81.62 and a 1 year high of $133.00.

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

Northern Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 5th will be issued a dividend of $0.80 per share. This is a positive change from Northern Trust’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Friday, September 5th. This represents a $3.20 dividend on an annualized basis and a yield of 2.5%. Northern Trust’s dividend payout ratio (DPR) is presently 37.60%.

Insider Transactions at Northern Trust

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

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.