Northern Trust Corporation $NTRS Stock Position Lessened by Vest Financial LLC

Vest Financial LLC trimmed its position in Northern Trust Corporation (NASDAQ:NTRS) by 31.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & 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 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in Northern Trust during the 2nd quarter valued at $2,523,781,000. Primecap Management Co. CA purchased a new position in shares of Northern Trust in the second quarter valued at about $1,060,553,000. Bank of New York Mellon Corp purchased a new position in shares of Northern Trust in the second quarter valued at about $361,079,000. Legal & General Group Plc purchased a new position in shares of Northern Trust in the second quarter valued at about $207,054,000. Finally, Man Group plc bought a new position in shares of Northern Trust during the second quarter valued at about $147,718,000. 83.19% of the stock is currently owned by institutional investors.

Northern Trust Trading Up 1.3%

NTRS opened at $167.92 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 stock has a market cap of $30.72 billion, a PE ratio of 14.33, a PEG ratio of 0.94 and a beta of 1.24. The business has a 50 day moving average of $177.18 and a 200-day moving average of $173.80.

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

Northern Trust Dividend Announcement

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

Analyst Ratings Changes

NTRS has been the subject of several recent analyst reports. Citigroup lowered their price objective on shares of Northern Trust from $186.00 to $170.00 and set a “neutral” rating for the company in a research note on Friday. Capital One Financial set a $190.00 price target on Northern Trust in a report on Tuesday, October 6th. Truist Financial boosted 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. Weiss Ratings raised Northern Trust from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, October 8th. Finally, TD Cowen assumed coverage on Northern Trust in a report on Thursday, October 8th. They issued a “hold” rating and a $175.00 price objective for the company. Three investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $183.47.

Insider Transactions at Northern Trust

In related news, EVP Thomas A. South sold 1,800 shares of the business’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $184.90, for a total transaction of $332,820.00. Following the sale, the executive vice president owned 92,917 shares of the company’s stock, valued at $17,180,353.30. The trade was a 1.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert Moritz, Jr. acquired 255 shares of the company’s stock in a transaction that occurred on Wednesday, July 29th. The shares were acquired at an average cost of $179.57 per share, for a total transaction of $45,790.35. Following the purchase, the director directly owned 8,400 shares of the company’s stock, valued at $1,508,388. This represents a 3.13% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 0.66% of the company’s stock.

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.