Northern Trust Corporation $NTRS Stock Sold by Confluence Investment Management LLC

Confluence Investment Management LLC trimmed its position in shares of Northern Trust Corporation (NASDAQ:NTRS) by 4.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 629,512 shares of the asset manager’s stock after selling 30,904 shares during the period. Northern Trust makes up about 1.6% of Confluence Investment Management LLC’s holdings, making the stock its 15th biggest holding. Confluence Investment Management LLC’s holdings in Northern Trust were worth $106,614,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. V Square Quantitative Management LLC grew its position in Northern Trust by 1.3% during the first quarter. V Square Quantitative Management LLC now owns 4,793 shares of the asset manager’s stock valued at $669,000 after acquiring an additional 61 shares during the period. Greenleaf Trust raised its holdings in shares of Northern Trust by 0.6% in the 2nd quarter. Greenleaf Trust now owns 12,575 shares of the asset manager’s stock worth $2,186,000 after purchasing an additional 71 shares during the period. CWS Financial Advisors LLC lifted its stake in shares of Northern Trust by 2.0% in the 1st quarter. CWS Financial Advisors LLC now owns 3,997 shares of the asset manager’s stock valued at $558,000 after purchasing an additional 77 shares in the last quarter. SJS Investment Consulting Inc. grew its holdings in shares of Northern Trust by 16.5% during the 1st quarter. SJS Investment Consulting Inc. now owns 559 shares of the asset manager’s stock worth $78,000 after purchasing an additional 79 shares during the period. Finally, Compound Planning Inc. increased its position in shares of Northern Trust by 4.7% in the first quarter. Compound Planning Inc. now owns 1,770 shares of the asset manager’s stock worth $247,000 after acquiring an additional 79 shares in the last quarter. 83.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on NTRS shares. UBS Group set a $186.00 price target on Northern Trust in a report on Friday, June 26th. JPMorgan Chase & Co. boosted their target price on shares of Northern Trust from $179.50 to $185.50 and gave the company a “neutral” rating in a research note on Tuesday, August 4th. Morgan Stanley lifted their price target on shares of Northern Trust from $170.00 to $173.00 and gave the company an “underweight” rating in a report on Thursday, July 23rd. Bank of America boosted their price objective on shares of Northern Trust from $190.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Northern Trust from $157.00 to $175.00 and gave the stock an “underperform” rating in a report on Thursday, July 9th. Four equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Northern Trust currently has a consensus rating of “Hold” and a consensus price target of $180.96.

Insider Buying and Selling

In related news, EVP Thomas South sold 1,800 shares of the firm’s stock in a transaction that occurred 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert Moritz, Jr. purchased 255 shares of Northern Trust stock in a transaction on Wednesday, July 29th. The shares were acquired at an average price of $179.57 per share, with a total value of $45,790.35. Following the transaction, the director directly owned 8,400 shares in the company, 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 Stock Performance

NTRS stock traded up $0.04 during mid-day trading on Thursday, reaching $169.40. The company had a trading volume of 306,248 shares, compared to its average volume of 1,079,377. Northern Trust Corporation has a one year low of $121.12 and a one year high of $195.78. The stock has a market capitalization of $30.99 billion, a P/E ratio of 14.52, a P/E/G ratio of 0.97 and a beta of 1.24. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.43. The stock’s 50-day simple moving average is $182.88 and its two-hundred day simple moving average is $170.53.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings data on Wednesday, July 22nd. The asset manager reported $4.23 earnings per share for the quarter, topping analysts’ consensus estimates of $2.71 by $1.52. The business 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 revenue for the quarter was up 35.1% compared to the same quarter last year. During the same quarter last year, the company earned $2.13 EPS. Research analysts anticipate that Northern Trust Corporation will post 11.6 EPS for the current year.

Northern Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 4th will be paid a $0.88 dividend. The ex-dividend date is Friday, September 4th. This is an increase from Northern Trust’s previous quarterly dividend of $0.80. This represents a $3.52 annualized dividend and a dividend yield of 2.1%. Northern Trust’s dividend payout ratio (DPR) is 30.21%.

Northern Trust 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.