Profund Advisors LLC Lowers Stock Holdings in Northern Trust Co. (NASDAQ:NTRS)

Profund Advisors LLC decreased its position in shares of Northern Trust Co. (NASDAQ:NTRS) by 4.3% during the second quarter, HoldingsChannel reports. The firm owned 3,042 shares of the asset manager’s stock after selling 138 shares during the period. Profund Advisors LLC’s holdings in Northern Trust were worth $353,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Private Advisor Group LLC raised its position in Northern Trust by 19.8% during the second quarter. Private Advisor Group LLC now owns 11,982 shares of the asset manager’s stock valued at $1,386,000 after purchasing an additional 1,978 shares in the last quarter. Advisory Services Network LLC raised its position in Northern Trust by 0.6% during the second quarter. Advisory Services Network LLC now owns 16,224 shares of the asset manager’s stock valued at $1,876,000 after purchasing an additional 91 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in shares of Northern Trust by 1.7% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,641,004 shares of the asset manager’s stock worth $536,593,000 after buying an additional 75,390 shares during the period. Barings LLC purchased a new position in shares of Northern Trust in the second quarter worth about $324,000. Finally, Natixis Advisors L.P. increased its holdings in shares of Northern Trust by 12.5% in the second quarter. Natixis Advisors L.P. now owns 49,667 shares of the asset manager’s stock worth $5,742,000 after buying an additional 5,521 shares during the period. Institutional investors and hedge funds own 80.98% of the company’s stock.

Northern Trust stock opened at $115.86 on Thursday. The stock’s 50 day simple moving average is $113.68 and its two-hundred day simple moving average is $113.87. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.68 and a current ratio of 0.68. The stock has a market cap of $24.14 billion, a price-to-earnings ratio of 19.77 and a beta of 1.09. Northern Trust Co. has a fifty-two week low of $76.20 and a fifty-two week high of $123.10.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings data on Tuesday, July 20th. The asset manager reported $1.72 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.71 by $0.01. The business had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.58 billion. Northern Trust had a return on equity of 12.61% and a net margin of 20.51%. The business’s revenue was up 4.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.46 EPS. On average, analysts predict that Northern Trust Co. will post 6.94 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 1st. Shareholders of record on Friday, September 10th were given a dividend of $0.70 per share. The ex-dividend date was Thursday, September 9th. This represents a $2.80 annualized dividend and a yield of 2.42%. Northern Trust’s payout ratio is 48.03%.

In other news, EVP Clair Joyce St sold 49,871 shares of the business’s stock in a transaction that occurred on Wednesday, August 11th. The stock was sold at an average price of $116.00, for a total value of $5,785,036.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Shundrawn A. Thomas sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 27th. The stock was sold at an average price of $112.47, for a total value of $562,350.00. The disclosure for this sale can be found here. Insiders own 0.69% of the company’s stock.

Several research firms have recently commented on NTRS. Wolfe Research upgraded Northern Trust from an “underperform” rating to a “peer perform” rating in a report on Thursday, October 7th. Evercore ISI reiterated a “hold” rating and issued a $118.00 price objective on shares of Northern Trust in a report on Friday, July 2nd. Keefe, Bruyette & Woods downgraded Northern Trust from an “outperform” rating to a “market perform” rating and set a $128.00 price objective on the stock. in a report on Thursday, June 17th. UBS Group upgraded Northern Trust from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $112.00 to $125.00 in a report on Friday, October 8th. Finally, Credit Suisse Group lifted their price objective on Northern Trust from $104.00 to $108.00 and gave the stock an “underperform” rating in a report on Thursday, July 22nd. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Northern Trust currently has an average rating of “Hold” and a consensus price target of $111.81.

About Northern Trust

Northern Trust Corp. is a financial holding company, which engages in the provision of asset servicing, fund administration, asset management, fiduciary, and banking solutions for corporations, institutions, families, and individuals. It operates through the following segments: Corporate & Institutional Services and Wealth Management.

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

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