Northern Trust Corporation $NTRS Holdings Lessened by Vest Financial LLC

Vest Financial LLC lowered its holdings in Northern Trust Corporation (NASDAQ:NTRS) by 31.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 27,549 shares of the asset manager’s stock after selling 12,419 shares during the quarter. Vest Financial LLC’s holdings in Northern Trust were worth $4,666,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. bought a new stake in Northern Trust during the second quarter worth $2,523,781,000. Primecap Management Co. CA purchased a new position in Northern Trust during the second quarter valued at approximately $1,060,553,000. Dimensional Fund Advisors LP grew its stake in Northern Trust by 1.5% during the first quarter. Dimensional Fund Advisors LP now owns 2,455,996 shares of the asset manager’s stock valued at $342,744,000 after acquiring an additional 36,322 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in Northern Trust during the 2nd quarter worth approximately $361,079,000. Finally, Robeco Institutional Asset Management B.V. increased its holdings in Northern Trust by 2.0% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,500,961 shares of the asset manager’s stock worth $254,203,000 after acquiring an additional 29,490 shares during the period. Institutional investors own 83.19% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on NTRS. Citigroup reduced their target price on Northern Trust from $186.00 to $170.00 and set a “neutral” rating for the company in a research report on Friday. Royal Bank Of Canada cut Northern Trust from an “outperform” rating to a “sector perform” rating and set a $178.00 price target on the stock. in a report on Wednesday, July 22nd. Wells Fargo & Company lifted their price target on Northern Trust from $189.00 to $194.00 and gave the company an “equal weight” rating in a research report on Thursday, July 23rd. UBS Group set a $186.00 price objective on Northern Trust in a report on Friday, June 26th. Finally, Barclays boosted their price objective on Northern Trust from $189.00 to $194.00 and gave the stock an “equal weight” rating in a report on Thursday. Three equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $183.47.

Insiders Place Their Bets

In other Northern Trust news, Director Robert Moritz, Jr. purchased 255 shares of the business’s stock in a transaction on Wednesday, July 29th. The stock was 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 in the company, valued at approximately $1,508,388. This represents a 3.13% increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Thomas South sold 1,800 shares of the firm’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $184.90, for a total value of $332,820.00. Following the transaction, the executive vice president directly owned 92,917 shares in the company, valued at $17,180,353.30. This trade represents 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 corporate insiders.

Northern Trust Price Performance

Shares of Northern Trust stock opened at $167.92 on Friday. The firm has a market capitalization of $30.72 billion, a PE ratio of 14.33, a price-to-earnings-growth ratio of 0.94 and a beta of 1.24. The company has a current ratio of 0.61, a quick ratio of 0.65 and a debt-to-equity ratio of 0.43. Northern Trust Corporation has a 12 month low of $121.53 and a 12 month high of $195.78. The business’s 50-day moving average price is $177.18 and its 200-day moving average price is $173.80.

Northern Trust (NASDAQ:NTRS) last released its earnings results on Wednesday, October 21st. The asset manager reported $3.40 earnings per share for the quarter, topping analysts’ consensus estimates of $2.87 by $0.53. The company had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.26 billion. Northern Trust had a return on equity of 17.97% and a net margin of 15.86%. Northern Trust’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.29 EPS. Sell-side analysts forecast that Northern Trust Corporation will post 11.72 EPS for the current fiscal year.

Northern Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 1st. Stockholders of record on Friday, December 4th will be paid a $0.88 dividend. The ex-dividend date of this dividend is Friday, December 4th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.1%. Northern Trust’s dividend payout ratio is 30.21%.

Northern Trust Company Profile

Northern Trust Corporation (NASDAQ:NTRS) is a financial services company that provides wealth management, asset servicing, asset management and banking services. The company serves institutional investors, corporations, financial institutions, high-net-worth individuals and families.

Its offerings include custody and administration of investment assets, fund accounting, securities lending, foreign exchange, treasury services, investment management, trust and estate services, private banking and wealth planning.