Wellington Management Group LLP Has $170.46 Million Stock Holdings in Northern Trust Corporation $NTRS

Wellington Management Group LLP decreased its holdings in shares of Northern Trust Corporation (NASDAQ:NTRS) by 20.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 980,580 shares of the asset manager’s stock after selling 257,645 shares during the quarter. Wellington Management Group LLP owned about 0.54% of Northern Trust worth $170,464,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. V Square Quantitative Management LLC boosted its holdings in Northern Trust by 1.3% in the 1st quarter. V Square Quantitative Management LLC now owns 4,793 shares of the asset manager’s stock valued at $669,000 after purchasing an additional 61 shares during the period. CWS Financial Advisors LLC raised its position in shares of Northern Trust by 2.0% during the first quarter. CWS Financial Advisors LLC now owns 3,997 shares of the asset manager’s stock valued at $558,000 after buying an additional 77 shares during the last quarter. SJS Investment Consulting Inc. grew its position in Northern Trust by 16.5% during the first quarter. SJS Investment Consulting Inc. now owns 559 shares of the asset manager’s stock worth $78,000 after buying an additional 79 shares in the last quarter. Compound Planning Inc. grew its position in Northern Trust by 4.7% during the first quarter. Compound Planning Inc. now owns 1,770 shares of the asset manager’s stock worth $247,000 after buying an additional 79 shares in the last quarter. Finally, OLD National Bancorp IN increased its stake in Northern Trust by 3.2% during the first quarter. OLD National Bancorp IN now owns 2,663 shares of the asset manager’s stock valued at $372,000 after acquiring an additional 83 shares during the period. Institutional investors and hedge funds own 83.19% of the company’s stock.

Insiders Place Their Bets

In other Northern Trust 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 value of $332,820.00. Following the completion of 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert Edward Jr. Moritz acquired 255 shares of Northern Trust 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 purchase, the director owned 8,400 shares of the company’s stock, valued at approximately $1,508,388. This represents a 3.13% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 0.66% of the company’s stock.

Northern Trust Trading Down 0.7%

Shares of Northern Trust stock opened at $185.56 on Tuesday. Northern Trust Corporation has a 12-month low of $121.12 and a 12-month high of $195.78. The stock has a market capitalization of $33.95 billion, a P/E ratio of 15.93, a price-to-earnings-growth ratio of 1.05 and a beta of 1.25. The company has a 50-day simple moving average of $183.06 and a 200 day simple moving average of $164.87. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.43.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings data on Wednesday, July 22nd. The asset manager reported $4.23 earnings per share for the quarter, topping the consensus estimate of $2.71 by $1.52. The firm had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.69 billion. Northern Trust had a net margin of 14.76% and a return on equity of 16.91%. The company’s quarterly revenue was up 35.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.13 earnings per share. Research analysts expect that Northern Trust Corporation will post 11.59 earnings per share for the current fiscal year.

Northern Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 4th will be given a dividend of $0.88 per share. This is a boost from Northern Trust’s previous quarterly dividend of $0.80. The ex-dividend date is Friday, September 4th. This represents a $3.52 dividend on an annualized basis and a yield of 1.9%. Northern Trust’s dividend payout ratio is currently 27.47%.

Analysts Set New Price Targets

Several equities analysts have commented on NTRS shares. Truist Financial upped their price target on Northern Trust from $176.00 to $186.00 and gave the company a “hold” rating in a report on Friday, June 26th. Keefe, Bruyette & Woods boosted their price objective on Northern Trust from $157.00 to $175.00 and gave the company an “underperform” rating in a research report on Thursday, July 9th. JPMorgan Chase & Co. upped their target price on Northern Trust from $179.50 to $185.50 and gave the company a “neutral” rating in a research note on Tuesday, August 4th. Zacks Research downgraded shares of Northern Trust from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 25th. Finally, Barclays lifted their target price on shares of Northern Trust from $176.00 to $189.00 and gave the company an “equal weight” rating in a research report on Thursday, July 23rd. Four research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $180.68.

Northern Trust Company Profile

Northern Trust Corporation (NASDAQ: NTRS) is a global financial services firm headquartered in Chicago that provides asset servicing, asset management and wealth management solutions to institutions, corporations and high-net-worth individuals. The company’s core businesses include custody and fund administration, investment operations outsourcing, trust and fiduciary services, private banking, and retirement and defined contribution plan services.

Northern Trust’s product and service offerings span custody and fund accounting, portfolio and performance analytics, securities lending, cash management and foreign exchange, as well as discretionary and non-discretionary investment management.