Northern Trust Corporation $NTRS Shares Sold by Sachetta LLC

Sachetta LLC lowered its stake in shares of Northern Trust Corporation (NASDAQ:NTRS) by 16.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,524 shares of the asset manager’s stock after selling 296 shares during the period. Sachetta LLC’s holdings in Northern Trust were worth $193,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NTRS. KLP Kapitalforvaltning AS boosted its holdings in Northern Trust by 4.9% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 70,809 shares of the asset manager’s stock worth $9,023,000 after buying an additional 3,300 shares during the last quarter. Appleton Partners Inc. MA purchased a new position in shares of Northern Trust in the second quarter valued at approximately $205,000. Valeo Financial Advisors LLC boosted its stake in shares of Northern Trust by 11.5% in the second quarter. Valeo Financial Advisors LLC now owns 2,582 shares of the asset manager’s stock worth $327,000 after acquiring an additional 266 shares during the last quarter. Simplicity Wealth LLC increased its position in shares of Northern Trust by 66.5% during the second quarter. Simplicity Wealth LLC now owns 6,368 shares of the asset manager’s stock worth $807,000 after purchasing an additional 2,543 shares in the last quarter. Finally, Brown Miller Wealth Management LLC raised its stake in Northern Trust by 5.1% in the 2nd quarter. Brown Miller Wealth Management LLC now owns 3,734 shares of the asset manager’s stock valued at $473,000 after purchasing an additional 180 shares during the last quarter. 83.19% of the stock is owned by hedge funds and other institutional investors.

Northern Trust Stock Performance

NASDAQ:NTRS opened at $132.21 on Tuesday. The company’s 50-day moving average is $129.51 and its two-hundred day moving average is $115.04. Northern Trust Corporation has a 1-year low of $81.62 and a 1-year high of $135.48. 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 firm has a market capitalization of $25.28 billion, a price-to-earnings ratio of 15.54, a PEG ratio of 1.57 and a beta of 1.31.

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. Northern Trust had a net margin of 11.75% and a return on equity of 14.06%. The business had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter last year, the firm earned $4.34 EPS. The business’s revenue was down 26.4% compared to the same quarter last year. Analysts forecast that Northern Trust Corporation will post 8.27 EPS for the current year.

Northern Trust Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Friday, September 5th were paid a $0.80 dividend. 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 dividend yield of 2.4%. Northern Trust’s dividend payout ratio is currently 37.60%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Wells Fargo & Company lifted their target price on shares of Northern Trust from $120.00 to $127.00 and gave the stock an “equal weight” rating in a research note on Friday. Truist Financial raised their price target on shares of Northern Trust from $132.00 to $142.00 and gave the stock a “hold” rating in a research note on Thursday. Zacks Research cut shares of Northern Trust from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 9th. BMO Capital Markets began coverage on shares of Northern Trust in a report on Friday. They issued a “market perform” rating and a $142.00 price objective for the company. Finally, Evercore ISI boosted their target price on Northern Trust from $125.00 to $135.00 and gave the stock an “in-line” rating in a report on Tuesday, September 30th. Four investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Northern Trust currently has a consensus rating of “Hold” and an average price target of $128.23.

Insider Buying and Selling at Northern Trust

In other Northern Trust news, Director Robert Edward Jr. Moritz acquired 256 shares of the business’s stock in a transaction that occurred on Wednesday, August 13th. The stock was purchased at an average cost of $126.34 per share, with a total value of $32,343.04. Following the transaction, the director owned 2,525 shares of the company’s stock, valued at $319,008.50. This trade represents a 11.28% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.77% of the company’s stock.

Northern Trust 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.