Tobam Has $368,000 Position in Northern Trust Co. (NASDAQ:NTRS)

Tobam trimmed its holdings in shares of Northern Trust Co. (NASDAQ:NTRS) by 26.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,377 shares of the asset manager’s stock after selling 1,578 shares during the period. Tobam’s holdings in Northern Trust were worth $368,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of NTRS. Olistico Wealth LLC bought a new position in Northern Trust during the second quarter worth about $25,000. Spartan Planning & Wealth Management increased its stake in shares of Northern Trust by 10,566.7% in the 4th quarter. Spartan Planning & Wealth Management now owns 320 shares of the asset manager’s stock valued at $27,000 after acquiring an additional 317 shares in the last quarter. Ridgewood Investments LLC bought a new stake in Northern Trust during the 2nd quarter valued at $30,000. Versant Capital Management Inc increased its stake in Northern Trust by 343.9% during the 2nd quarter. Versant Capital Management Inc now owns 435 shares of the asset manager’s stock valued at $37,000 after purchasing an additional 337 shares in the last quarter. Finally, Tributary Capital Management LLC bought a new stake in shares of Northern Trust in the 1st quarter worth $53,000. 83.19% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on NTRS shares. Keefe, Bruyette & Woods cut their price target on shares of Northern Trust from $92.00 to $85.00 and set a “market perform” rating on the stock in a report on Thursday, June 27th. The Goldman Sachs Group cut their target price on shares of Northern Trust from $94.00 to $84.00 and set a “neutral” rating on the stock in a report on Tuesday, July 2nd. Deutsche Bank Aktiengesellschaft dropped their price target on Northern Trust from $85.00 to $84.00 and set a “hold” rating for the company in a research note on Thursday, August 15th. Morgan Stanley reduced their price target on Northern Trust from $97.00 to $93.00 and set an “underweight” rating for the company in a report on Tuesday, July 30th. Finally, Royal Bank of Canada lifted their price objective on Northern Trust from $86.00 to $90.00 and gave the company an “outperform” rating in a research report on Thursday, July 18th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $88.75.

Northern Trust Stock Up 0.5 %

Northern Trust stock traded up $0.49 during midday trading on Friday, hitting $89.98. The stock had a trading volume of 601,030 shares, compared to its average volume of 1,322,335. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The stock has a market cap of $18.41 billion, a P/E ratio of 19.79, a P/E/G ratio of 1.29 and a beta of 1.10. Northern Trust Co. has a 12 month low of $62.44 and a 12 month high of $92.46. The business has a fifty day moving average price of $85.70 and a 200 day moving average price of $84.26.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings data on Wednesday, July 17th. The asset manager reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.03. Northern Trust had a return on equity of 12.24% and a net margin of 10.53%. The business had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same period in the previous year, the firm posted $1.79 earnings per share. The business’s revenue was up 53.8% on a year-over-year basis. Research analysts predict that Northern Trust Co. will post 7.02 EPS for the current year.

Northern Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date is Friday, September 6th. Northern Trust’s dividend payout ratio (DPR) is 66.23%.

Insider Activity

In other Northern Trust news, EVP Mark C. Gossett sold 6,000 shares of the stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $88.90, for a total value of $533,400.00. Following the sale, the executive vice president now directly owns 28,707 shares in the company, valued at $2,552,052.30. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Northern Trust news, EVP Teresa Parker sold 5,883 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $84.06, for a total value of $494,524.98. Following the transaction, the executive vice president now directly owns 83,765 shares of the company’s stock, valued at $7,041,285.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark C. Gossett sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $88.90, for a total transaction of $533,400.00. Following the sale, the executive vice president now owns 28,707 shares of the company’s stock, valued at approximately $2,552,052.30. The disclosure for this sale can be found here. 0.64% of the stock is owned by company insiders.

Northern Trust Company 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.