Zurcher Kantonalbank Zurich Cantonalbank reduced its holdings in Northern Trust Co. (NASDAQ:NTRS) by 3.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,201 shares of the asset manager’s stock after selling 1,357 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Northern Trust were worth $3,888,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Dearborn Partners LLC increased its stake in Northern Trust by 8.4% in the 2nd quarter. Dearborn Partners LLC now owns 87,694 shares of the asset manager’s stock valued at $7,893,000 after purchasing an additional 6,809 shares in the last quarter. BP PLC purchased a new position in Northern Trust during the second quarter worth $1,890,000. SG Americas Securities LLC purchased a new position in Northern Trust during the second quarter worth $6,811,000. Trust Co. of Vermont increased its position in Northern Trust by 750.0% during the second quarter. Trust Co. of Vermont now owns 340 shares of the asset manager’s stock worth $31,000 after buying an additional 300 shares in the last quarter. Finally, Creative Planning increased its position in Northern Trust by 5.7% during the second quarter. Creative Planning now owns 10,069 shares of the asset manager’s stock worth $906,000 after buying an additional 544 shares in the last quarter. 79.89% of the stock is owned by institutional investors and hedge funds.

In related news, EVP Robert P. Browne sold 12,156 shares of Northern Trust stock in a transaction on Friday, June 14th. The stock was sold at an average price of $86.88, for a total value of $1,056,113.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Biff Bowman sold 46,204 shares of Northern Trust stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $92.81, for a total value of $4,288,193.24. The disclosure for this sale can be found here. Insiders sold 111,567 shares of company stock worth $10,639,832 in the last quarter. 1.15% of the stock is owned by insiders.

NTRS has been the subject of several recent research reports. Bank of America reissued a “neutral” rating and set a $97.00 price target (down previously from $107.00) on shares of Northern Trust in a research report on Thursday, June 6th. Deutsche Bank dropped their price target on Northern Trust from $93.00 to $91.00 and set a “hold” rating for the company in a research report on Friday, August 9th. BidaskClub downgraded Northern Trust from a “hold” rating to a “sell” rating in a research report on Monday. Citigroup downgraded Northern Trust from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $94.00 to $85.00 in a research report on Friday, July 12th. Finally, Morgan Stanley set a $89.00 price target on Northern Trust and gave the stock a “sell” rating in a research report on Friday, August 9th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company’s stock. Northern Trust has an average rating of “Hold” and an average price target of $105.78.

Shares of NASDAQ:NTRS traded down $2.12 during midday trading on Wednesday, reaching $86.75. The company’s stock had a trading volume of 16,516 shares, compared to its average volume of 1,229,528. The firm has a market cap of $19.10 billion, a price-to-earnings ratio of 12.96, a price-to-earnings-growth ratio of 1.59 and a beta of 1.16. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.64 and a current ratio of 0.64. Northern Trust Co. has a 1 year low of $75.96 and a 1 year high of $109.72. The company’s 50 day moving average is $92.33.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings data on Wednesday, July 24th. The asset manager reported $1.75 EPS for the quarter, beating the Zacks’ consensus estimate of $1.68 by $0.07. Northern Trust had a return on equity of 15.74% and a net margin of 22.20%. The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter in the previous year, the business earned $1.68 earnings per share. The business’s revenue for the quarter was down .1% on a year-over-year basis. Analysts expect that Northern Trust Co. will post 6.62 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be issued a $0.70 dividend. The ex-dividend date is Thursday, September 12th. This represents a $2.80 dividend on an annualized basis and a yield of 3.23%. This is a boost from Northern Trust’s previous quarterly dividend of $0.60. Northern Trust’s dividend payout ratio (DPR) is presently 35.66%.

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, Corporate & Institutional Services (C&IS) and Wealth Management.

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Institutional Ownership by Quarter for Northern Trust (NASDAQ:NTRS)

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