U S Global Investors Inc. Decreases Holdings in Northern Trust Corporation $NTRS

U S Global Investors Inc. cut its stake in shares of Northern Trust Corporation (NASDAQ:NTRS) by 12.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,450 shares of the asset manager’s stock after selling 1,500 shares during the period. U S Global Investors Inc.’s holdings in Northern Trust were worth $1,325,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in NTRS. Continuum Advisory LLC increased its stake in shares of Northern Trust by 5,340.0% in the 1st quarter. Continuum Advisory LLC now owns 272 shares of the asset manager’s stock worth $27,000 after purchasing an additional 267 shares in the last quarter. GFG Capital LLC purchased a new stake in shares of Northern Trust in the 2nd quarter worth $35,000. Zions Bancorporation National Association UT purchased a new stake in shares of Northern Trust in the 1st quarter worth $29,000. Harbor Investment Advisory LLC increased its stake in shares of Northern Trust by 68.4% in the 2nd quarter. Harbor Investment Advisory LLC now owns 320 shares of the asset manager’s stock worth $41,000 after purchasing an additional 130 shares in the last quarter. Finally, Wayfinding Financial LLC purchased a new stake in shares of Northern Trust in the 1st quarter worth $35,000. 83.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Northern Trust

In related news, Director Robert Edward Jr. Moritz acquired 256 shares of the company’s stock in a transaction on Wednesday, August 13th. The stock was acquired at an average price of $126.34 per share, with a total value of $32,343.04. Following the acquisition, the director directly owned 2,525 shares of the company’s stock, valued at approximately $319,008.50. This trade represents a 11.28% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 0.77% of the stock is owned by company insiders.

Analysts Set New Price Targets

NTRS has been the subject of several analyst reports. Wall Street Zen upgraded Northern Trust from a “sell” rating to a “hold” rating in a research note on Friday, September 26th. Evercore ISI upped their price objective on Northern Trust from $125.00 to $135.00 and gave the stock an “in-line” rating in a research note on Tuesday, September 30th. Zacks Research lowered Northern Trust from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 9th. Morgan Stanley upped their price objective on Northern Trust from $110.00 to $131.00 and gave the stock an “underweight” rating in a research note on Monday, September 29th. Finally, The Goldman Sachs Group set a $135.00 target price on shares of Northern Trust in a report on Tuesday, September 30th. Four research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $128.23.

Northern Trust Trading Down 4.1%

Shares of Northern Trust stock opened at $124.72 on Friday. The company has a market capitalization of $23.85 billion, a P/E ratio of 14.66, a P/E/G ratio of 1.45 and a beta of 1.31. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.72 and a current ratio of 0.72. The company has a fifty day moving average of $129.46 and a 200 day moving average of $115.62. Northern Trust Corporation has a fifty-two week low of $81.62 and a fifty-two week high of $135.48.

Northern Trust (NASDAQ:NTRS) last issued its earnings results on Wednesday, July 23rd. The asset manager reported $2.13 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.05. Northern Trust had a net margin of 11.75% and a return on equity of 14.06%. The company had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter in the prior year, the firm posted $4.34 EPS. Northern Trust’s quarterly revenue was down 26.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Northern Trust Corporation will post 8.27 earnings per share for the current fiscal year.

Northern Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Friday, September 5th were issued a dividend of $0.80 per share. This is a boost from Northern Trust’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Friday, September 5th. This represents a $3.20 annualized dividend and a dividend yield of 2.6%. Northern Trust’s payout ratio is currently 37.60%.

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.