OMERS ADMINISTRATION Corp Sells 30,500 Shares of Northern Trust Corporation $NTRS

OMERS ADMINISTRATION Corp trimmed its holdings in shares of Northern Trust Corporation (NASDAQ:NTRS) by 54.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,362 shares of the asset manager’s stock after selling 30,500 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in Northern Trust were worth $3,216,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Northern Trust by 0.8% in the 2nd quarter. Vanguard Group Inc. now owns 22,593,674 shares of the asset manager’s stock valued at $2,864,652,000 after buying an additional 188,472 shares during the period. Primecap Management Co. CA raised its stake in shares of Northern Trust by 19.5% during the second quarter. Primecap Management Co. CA now owns 7,793,757 shares of the asset manager’s stock valued at $988,170,000 after acquiring an additional 1,270,748 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Northern Trust by 3.7% in the second quarter. Geode Capital Management LLC now owns 5,196,659 shares of the asset manager’s stock valued at $656,229,000 after purchasing an additional 184,726 shares during the period. Invesco Ltd. grew its stake in Northern Trust by 19.3% in the first quarter. Invesco Ltd. now owns 3,443,599 shares of the asset manager’s stock worth $339,711,000 after purchasing an additional 558,287 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in Northern Trust by 0.7% during the 1st quarter. American Century Companies Inc. now owns 3,013,123 shares of the asset manager’s stock worth $297,245,000 after purchasing an additional 20,010 shares during the period. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on NTRS shares. Wells Fargo & Company lifted their price objective on Northern Trust from $127.00 to $131.00 and gave the company an “equal weight” rating in a report on Thursday, October 23rd. Truist Financial cut their price objective 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 reiterated a “buy” rating on shares of Northern Trust in a research note on Thursday, October 23rd. Wall Street Zen downgraded shares of Northern Trust from a “hold” rating to a “sell” rating in a research note on Saturday, October 25th. Finally, Evercore ISI upped their price target on 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 research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, Northern Trust presently has an average rating of “Hold” and a consensus price target of $132.46.

Insider Buying and Selling

In related news, insider John Landers sold 766 shares of Northern Trust stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $124.35, for a total transaction of $95,252.10. Following the completion of the transaction, the insider directly owned 7,313 shares in the company, valued at approximately $909,371.55. This trade represents a 9.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert Edward Jr. Moritz acquired 3,891 shares of the stock in a transaction on Tuesday, November 4th. The stock was bought at an average price of $128.57 per share, for a total transaction of $500,265.87. Following the transaction, the director owned 6,686 shares in the company, valued at approximately $859,619.02. This represents a 139.21% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.77% of the stock is owned by corporate insiders.

Northern Trust Trading Down 0.3%

Shares of Northern Trust stock opened at $130.98 on Tuesday. Northern Trust Corporation has a 12-month low of $81.62 and a 12-month high of $135.48. The firm’s 50 day simple moving average is $128.93 and its two-hundred day simple moving average is $124.62. The company has a current ratio of 0.70, a quick ratio of 0.72 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $24.77 billion, a price-to-earnings ratio of 15.27, a PEG ratio of 1.37 and a beta of 1.32.

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

Northern Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 1st. Stockholders of record on Friday, December 5th will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, December 5th. Northern Trust’s 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.