Gateway Investment Advisers LLC decreased its holdings in shares of Northern Trust Co. (NASDAQ:NTRS) by 72.8% in the third quarter, HoldingsChannel reports. The fund owned 2,233 shares of the asset manager’s stock after selling 5,967 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Northern Trust were worth $208,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Strs Ohio boosted its holdings in Northern Trust by 2.1% in the 2nd quarter. Strs Ohio now owns 6,242 shares of the asset manager’s stock worth $561,000 after buying an additional 126 shares during the period. Welch & Forbes LLC boosted its holdings in Northern Trust by 1.8% in the 3rd quarter. Welch & Forbes LLC now owns 7,223 shares of the asset manager’s stock worth $674,000 after buying an additional 127 shares during the period. Oregon Public Employees Retirement Fund boosted its holdings in Northern Trust by 0.6% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 23,331 shares of the asset manager’s stock worth $2,100,000 after buying an additional 136 shares during the period. CIBC Private Wealth Group LLC boosted its holdings in Northern Trust by 2.1% in the 2nd quarter. CIBC Private Wealth Group LLC now owns 7,429 shares of the asset manager’s stock worth $669,000 after buying an additional 152 shares during the period. Finally, Smith Asset Management Group LP boosted its holdings in Northern Trust by 90.0% in the 2nd quarter. Smith Asset Management Group LP now owns 380 shares of the asset manager’s stock worth $34,000 after buying an additional 180 shares during the period. 80.36% of the stock is owned by hedge funds and other institutional investors.

Several research analysts recently weighed in on the stock. Wells Fargo & Co set a $110.00 target price on shares of Northern Trust and gave the stock a “buy” rating in a report on Friday, August 16th. UBS Group downgraded shares of Northern Trust from a “buy” rating to a “neutral” rating in a report on Wednesday, September 25th. Buckingham Research dropped their target price on shares of Northern Trust from $118.00 to $112.00 and set a “buy” rating for the company in a report on Friday, October 4th. Deutsche Bank dropped their target price on shares of Northern Trust from $91.00 to $87.00 and set a “hold” rating for the company in a report on Wednesday, August 21st. Finally, JPMorgan Chase & Co. dropped their target price on shares of Northern Trust from $101.50 to $98.00 and set a “neutral” rating for the company in a report on Thursday, October 10th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $100.99.

In other Northern Trust news, CFO Biff Bowman sold 46,204 shares of the business’s 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Thomas A. South sold 1,000 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $98.54, for a total transaction of $98,540.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 100,411 shares of company stock worth $9,682,259. Corporate insiders own 1.15% of the company’s stock.

Shares of NTRS stock opened at $94.68 on Monday. The stock has a market cap of $20.15 billion, a P/E ratio of 14.07, a PEG ratio of 1.61 and a beta of 1.20. Northern Trust Co. has a 52 week low of $75.96 and a 52 week high of $101.50. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.40. The company’s fifty day simple moving average is $92.06 and its two-hundred day simple moving average is $91.81.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings results on Wednesday, July 24th. The asset manager reported $1.75 EPS for the quarter, topping the consensus estimate of $1.68 by $0.07. The business had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.51 billion. Northern Trust had a net margin of 22.20% and a return on equity of 15.74%. The business’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.68 EPS. On average, analysts anticipate that Northern Trust Co. will post 6.6 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were paid a $0.70 dividend. The ex-dividend date was Thursday, September 12th. This represents a $2.80 annualized dividend and a yield of 2.96%. This is a boost from Northern Trust’s previous quarterly dividend of $0.60. Northern Trust’s payout ratio is presently 41.60%.

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, 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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