Northern Trust Corporation $NTRS Stake Decreased by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC lowered its holdings in Northern Trust Corporation (NASDAQ:NTRS) by 79.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,497 shares of the asset manager’s stock after selling 5,823 shares during the period. Verdence Capital Advisors LLC’s holdings in Northern Trust were worth $254,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Patton Albertson Miller Group LLC bought a new stake in shares of Northern Trust in the third quarter worth about $681,000. Apollon Wealth Management LLC lifted its holdings in shares of Northern Trust by 7.3% during the third quarter. Apollon Wealth Management LLC now owns 4,814 shares of the asset manager’s stock valued at $815,000 after purchasing an additional 328 shares during the last quarter. Signaturefd LLC increased its holdings in shares of Northern Trust by 7.6% during the third quarter. Signaturefd LLC now owns 4,630 shares of the asset manager’s stock valued at $784,000 after acquiring an additional 326 shares in the last quarter. Citizens Financial Group Inc. RI lifted its holdings in Northern Trust by 39.9% in the third quarter. Citizens Financial Group Inc. RI now owns 6,327 shares of the asset manager’s stock valued at $1,077,000 after acquiring an additional 1,803 shares during the period. Finally, Fifth Third Wealth Advisors LLC increased its position in Northern Trust by 4.6% in the third quarter. Fifth Third Wealth Advisors LLC now owns 2,119 shares of the asset manager’s stock worth $359,000 after buying an additional 94 shares in the last quarter. 83.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Zacks Research cut Northern Trust from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 25th. BMO Capital Markets reduced their target price on Northern Trust from $208.00 to $190.00 and set an “outperform” rating for the company in a report on Tuesday, October 6th. Bank of America dropped their price objective on shares of Northern Trust from $200.00 to $187.00 in a research note on Monday, October 5th. Barclays boosted their price objective on Northern Trust from $189.00 to $194.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 22nd. Finally, JPMorgan Chase & Co. lifted their price target on shares of Northern Trust from $185.00 to $191.50 and gave the company a “neutral” rating in a research report on Friday. Two research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Northern Trust has a consensus rating of “Hold” and an average target price of $181.03.

Northern Trust Price Performance

Northern Trust stock opened at $169.16 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.61 and a debt-to-equity ratio of 0.43. Northern Trust Corporation has a 52-week low of $121.53 and a 52-week high of $195.78. The firm has a market cap of $30.95 billion, a PE ratio of 13.26, a price-to-earnings-growth ratio of 0.87 and a beta of 1.24. The company’s 50 day moving average is $175.52 and its two-hundred day moving average is $165.29.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings results on Wednesday, October 21st. The asset manager reported $3.40 EPS for the quarter, topping the consensus estimate of $2.87 by $0.53. Northern Trust had a net margin of 15.86% and a return on equity of 17.97%. The business had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter in the previous year, the firm posted $2.29 earnings per share. The company’s quarterly revenue was up 13.4% compared to the same quarter last year. On average, research analysts expect that Northern Trust Corporation will post 11.95 EPS for the current fiscal year.

Northern Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 1st. Investors of record on Friday, December 4th will be paid a dividend of $0.88 per share. The ex-dividend date is Friday, December 4th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.1%. Northern Trust’s payout ratio is presently 27.59%.

Insider Buying and Selling at Northern Trust

In other Northern Trust news, EVP Thomas A. South sold 1,800 shares of the firm’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $184.90, for a total value of $332,820.00. Following the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Susan Levy sold 16,984 shares of the firm’s stock in a transaction dated Friday, October 23rd. The stock was sold at an average price of $168.15, for a total value of $2,855,859.60. Following the sale, the executive vice president directly owned 59,378 shares in the company, valued at $9,984,410.70. This trade represents a 22.24% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 22,706 shares of company stock worth $3,850,282 in the last three months. 0.66% of the stock is currently owned by corporate insiders.

Northern Trust 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.