Northern Trust Corporation $NTRS Shares Sold by Vestor Capital LLC

Vestor Capital LLC lessened its position in Northern Trust Corporation (NASDAQ:NTRS) by 57.3% during the second quarter, Holdings Channel reports. The fund owned 2,472 shares of the asset manager’s stock after selling 3,324 shares during the quarter. Vestor Capital LLC’s holdings in Northern Trust were worth $313,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the company. FNY Investment Advisers LLC bought a new position in Northern Trust in the 2nd quarter worth about $25,000. Hantz Financial Services Inc. raised its holdings in shares of Northern Trust by 5,225.0% during the second quarter. Hantz Financial Services Inc. now owns 213 shares of the asset manager’s stock valued at $27,000 after buying an additional 209 shares during the last quarter. AlphaCore Capital LLC boosted its position in shares of Northern Trust by 87.4% during the second quarter. AlphaCore Capital LLC now owns 208 shares of the asset manager’s stock worth $27,000 after buying an additional 97 shares during the period. Zions Bancorporation National Association UT bought a new position in Northern Trust in the 1st quarter worth approximately $29,000. Finally, Clearstead Trust LLC acquired a new stake in Northern Trust in the 2nd quarter valued at approximately $29,000. 83.19% of the stock is currently owned by institutional investors.

Insider Transactions at Northern Trust

In related news, Director Robert Edward Jr. Moritz bought 3,891 shares of Northern Trust stock in a transaction dated Tuesday, November 4th. The stock was acquired at an average cost of $128.57 per share, with a total value of $500,265.87. Following the completion of the acquisition, the director directly owned 6,686 shares in the company, valued at approximately $859,619.02. This trade represents a 139.21% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Susan Cohen Levy sold 27,591 shares of the stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $128.13, for a total value of $3,535,234.83. Following the completion of the transaction, the executive vice president owned 48,257 shares of the company’s stock, valued at $6,183,169.41. This trade represents a 36.38% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.77% of the stock is owned by insiders.

Northern Trust Stock Up 1.1%

NASDAQ NTRS opened at $127.13 on Monday. Northern Trust Corporation has a 12 month low of $81.62 and a 12 month high of $135.48. The company has a market capitalization of $24.04 billion, a P/E ratio of 14.82, a PEG ratio of 1.37 and a beta of 1.32. The company’s 50 day simple moving average is $128.94 and its 200 day simple moving average is $123.53. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.70 and a quick ratio of 0.72.

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

Northern Trust Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on NTRS shares. Truist Financial reduced their price target on Northern Trust from $142.00 to $139.00 and set a “hold” rating for the company in a research report on Thursday, October 23rd. Cowen restated a “buy” rating on shares of Northern Trust in a research note on Thursday, October 23rd. BMO Capital Markets initiated coverage on shares of Northern Trust in a report on Friday, October 3rd. They issued a “market perform” rating and a $142.00 price objective for the company. Citigroup increased their target price on shares of Northern Trust from $110.00 to $135.00 and gave the company a “neutral” rating in a research report on Friday, September 5th. Finally, Evercore ISI boosted their price target on shares of Northern Trust from $125.00 to $135.00 and gave the stock an “in-line” rating in a research report on Tuesday, September 30th. Five analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $132.46.

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.