Northern Trust Corporation $NTRS Shares Sold by Confluence Investment Management LLC

Confluence Investment Management LLC lowered its stake in shares of Northern Trust Corporation (NASDAQ:NTRS) by 4.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 629,512 shares of the asset manager’s stock after selling 30,904 shares during the quarter. Northern Trust comprises about 1.6% of Confluence Investment Management LLC’s holdings, making the stock its 15th largest position. Confluence Investment Management LLC owned approximately 0.34% of Northern Trust worth $106,614,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. lifted its holdings in shares of Northern Trust by 5.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,894,755 shares of the asset manager’s stock worth $395,395,000 after purchasing an additional 161,826 shares during the period. Renaissance Technologies LLC acquired a new position in Northern Trust in the 1st quarter valued at $2,303,000. Oppenheimer Asset Management Inc. purchased a new position in Northern Trust during the 2nd quarter worth $25,721,000. Bank of America Corp DE raised its position in Northern Trust by 5.6% during the 1st quarter. Bank of America Corp DE now owns 622,852 shares of the asset manager’s stock worth $86,931,000 after buying an additional 33,029 shares during the last quarter. Finally, Panagora Asset Management Inc. lifted its stake in shares of Northern Trust by 54.2% in the 4th quarter. Panagora Asset Management Inc. now owns 1,002,267 shares of the asset manager’s stock worth $136,900,000 after acquiring an additional 352,379 shares during the period. Institutional investors and hedge funds own 83.19% of the company’s stock.

Northern Trust Price Performance

Shares of NASDAQ NTRS traded up $0.04 during trading on Thursday, reaching $169.40. The company had a trading volume of 306,248 shares, compared to its average volume of 1,079,377. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.43. Northern Trust Corporation has a twelve month low of $121.12 and a twelve month high of $195.78. The stock has a 50-day moving average price of $182.88 and a two-hundred day moving average price of $170.53. The stock has a market capitalization of $30.99 billion, a PE ratio of 14.52, a price-to-earnings-growth ratio of 0.97 and a beta of 1.24.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings data on Wednesday, July 22nd. The asset manager reported $4.23 EPS for the quarter, topping analysts’ consensus estimates of $2.71 by $1.52. Northern Trust had a return on equity of 16.91% and a net margin of 14.76%.The firm had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.69 billion. During the same quarter last year, the business posted $2.13 EPS. The firm’s quarterly revenue was up 35.1% compared to the same quarter last year. As a group, sell-side analysts predict that Northern Trust Corporation will post 11.6 earnings per share for the current year.

Northern Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 4th will be paid a dividend of $0.88 per share. The ex-dividend date of this dividend is Friday, September 4th. This is a positive change from Northern Trust’s previous quarterly dividend of $0.80. This represents a $3.52 annualized dividend and a dividend yield of 2.1%. Northern Trust’s payout ratio is currently 30.21%.

Insider Buying and Selling

In other Northern Trust news, Director Robert Moritz, Jr. acquired 255 shares of the stock in a transaction dated Wednesday, July 29th. The stock was acquired at an average price of $179.57 per share, with a total value of $45,790.35. Following the completion of the transaction, the director directly owned 8,400 shares in the company, valued at approximately $1,508,388. This trade represents a 3.13% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Thomas South sold 1,800 shares of the company’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $184.90, for a total value of $332,820.00. Following the completion of the transaction, the executive vice president owned 92,917 shares of the company’s stock, valued at $17,180,353.30. The trade was a 1.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.66% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Northern Trust in a research note on Friday, July 31st. Wells Fargo & Company boosted their target price on Northern Trust from $189.00 to $194.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 23rd. UBS Group set a $186.00 target price on Northern Trust in a research note on Friday, June 26th. Morgan Stanley increased their price objective on Northern Trust from $170.00 to $173.00 and gave the stock an “underweight” rating in a research report on Thursday, July 23rd. Finally, Bank of America raised their target price on Northern Trust from $190.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Four equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Northern Trust currently has an average rating of “Hold” and a consensus target price of $180.96.

Northern Trust Profile

Northern Trust Corporation is a financial services company headquartered in Chicago, Illinois. Founded in 1889, the company provides wealth management, asset servicing, asset management and banking services to corporations, institutions, affluent individuals and families, and financial professionals.

Through its wealth management business, Northern Trust offers investment management, financial planning, trust and estate services, private banking, and family office solutions. Its asset servicing and banking operations support institutional investors and businesses with custody, fund administration, securities lending, foreign exchange, treasury services, capital markets, and related banking solutions.

Northern Trust serves clients through operations in the United States and international markets, including Canada, Europe, the Middle East and the Asia-Pacific region.