Northern Trust Corporation $NTRS Position Trimmed by InvesTrust

InvesTrust decreased its holdings in Northern Trust Corporation (NASDAQ:NTRS) by 13.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 20,686 shares of the asset manager’s stock after selling 3,104 shares during the quarter. Northern Trust accounts for about 1.3% of InvesTrust’s investment portfolio, making the stock its 25th largest position. InvesTrust’s holdings in Northern Trust were worth $3,503,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in shares of Northern Trust during the 2nd quarter valued at $2,523,781,000. Primecap Management Co. CA bought a new stake in shares of Northern Trust during the 2nd quarter worth $1,060,553,000. Bank of New York Mellon Corp acquired a new position in shares of Northern Trust in the 2nd quarter worth $361,079,000. Legal & General Group Plc acquired a new position in shares of Northern Trust in the 2nd quarter worth $207,054,000. Finally, Man Group plc acquired a new position in shares of Northern Trust in the 2nd quarter worth $147,718,000. Institutional investors own 83.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on NTRS. Morgan Stanley boosted their target price on Northern Trust from $170.00 to $173.00 and gave the stock an “underweight” rating in a research report on Thursday, July 23rd. Evercore set a $183.00 price target on Northern Trust in a research report on Thursday, October 1st. Weiss Ratings upgraded Northern Trust from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, October 8th. Truist Financial lifted their price target on Northern Trust from $176.00 to $186.00 and gave the stock a “hold” rating in a research note on Friday, June 26th. Finally, UBS Group set a $186.00 price target on Northern Trust in a research note on Friday, June 26th. Three research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $183.93.

Insiders Place Their Bets

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

Northern Trust Trading Down 2.9%

NASDAQ NTRS opened at $162.64 on Thursday. Northern Trust Corporation has a twelve month low of $121.12 and a twelve month high of $195.78. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a market cap of $29.76 billion, a price-to-earnings ratio of 15.71, a PEG ratio of 0.95 and a beta of 1.24. The firm’s 50 day moving average price is $180.31 and its two-hundred day moving average price is $172.73.

Northern Trust (NASDAQ:NTRS) last announced its earnings results on Wednesday, July 22nd. The asset manager reported $4.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.71 by $1.52. The company had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.69 billion. Northern Trust had a net margin of 14.76% and a return on equity of 16.91%. The company’s revenue was up 35.1% on a year-over-year basis. During the same period in the previous year, the business earned $2.13 EPS. Equities analysts anticipate that Northern Trust Corporation will post 11.65 EPS for the current year.

Northern Trust Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Friday, September 4th were given a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 2.2%. This is a boost from Northern Trust’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend was Friday, September 4th. Northern Trust’s payout ratio is 30.21%.

Northern Trust Company 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.