Hussman Strategic Advisors Inc. Reduces Stock Position in Northern Trust Corporation $NTRS

Hussman Strategic Advisors Inc. trimmed its position in Northern Trust Corporation (NASDAQ:NTRS) by 40.0% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,300 shares of the asset manager’s stock after selling 4,200 shares during the period. Hussman Strategic Advisors Inc.’s holdings in Northern Trust were worth $799,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Bank of New York Mellon Corp grew its stake in Northern Trust by 5.3% in the second quarter. Bank of New York Mellon Corp now owns 1,907,408 shares of the asset manager’s stock worth $241,840,000 after purchasing an additional 96,592 shares in the last quarter. Verity Asset Management Inc. bought a new stake in shares of Northern Trust in the 2nd quarter valued at approximately $204,000. Speece Thorson Capital Group Inc. increased its holdings in shares of Northern Trust by 2.0% in the 2nd quarter. Speece Thorson Capital Group Inc. now owns 121,634 shares of the asset manager’s stock valued at $15,422,000 after acquiring an additional 2,352 shares during the last quarter. Tredje AP fonden increased its holdings in shares of Northern Trust by 13.2% in the 2nd quarter. Tredje AP fonden now owns 18,427 shares of the asset manager’s stock valued at $2,336,000 after acquiring an additional 2,151 shares during the last quarter. Finally, Aviance Capital Partners LLC increased its holdings in shares of Northern Trust by 13.3% in the 2nd quarter. Aviance Capital Partners LLC now owns 13,883 shares of the asset manager’s stock valued at $1,760,000 after acquiring an additional 1,629 shares during the last quarter. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Northern Trust news, Director Robert Edward Jr. Moritz purchased 270 shares of the firm’s stock in a transaction dated Monday, October 27th. The stock was bought at an average price of $126.66 per share, with a total value of $34,198.20. Following the completion of the purchase, the director owned 2,795 shares in the company, valued at $354,014.70. This trade represents a 10.69% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.77% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on NTRS. Keefe, Bruyette & Woods boosted their price target on Northern Trust from $123.00 to $125.00 and gave the company an “underperform” rating in a report on Thursday, October 23rd. Wells Fargo & Company boosted their price target on Northern Trust from $127.00 to $131.00 and gave the company an “equal weight” rating in a report on Thursday, October 23rd. The Goldman Sachs Group set a $135.00 price target on Northern Trust in a report on Tuesday, September 30th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Northern Trust in a report on Wednesday, October 8th. Finally, Cowen reiterated a “buy” rating on shares of Northern Trust in a report on Thursday, October 23rd. Five investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $130.71.

Northern Trust Stock Down 0.1%

Northern Trust stock opened at $127.54 on Wednesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.72 and a current ratio of 0.70. The company has a 50-day simple moving average of $129.38 and a 200-day simple moving average of $120.38. The firm has a market capitalization of $24.39 billion, a P/E ratio of 14.86, a P/E/G ratio of 1.37 and a beta of 1.31. Northern Trust Corporation has a one year low of $81.62 and a one year high of $135.48.

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

Northern Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 1st. Stockholders of record on Friday, December 5th will be paid a $0.80 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $3.20 annualized dividend and a dividend yield of 2.5%. Northern Trust’s dividend payout ratio is presently 37.30%.

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.