Cypress Capital Group Decreases Stock Position in Northern Trust Co. (NASDAQ:NTRS)

Cypress Capital Group lessened its position in shares of Northern Trust Co. (NASDAQ:NTRS) by 15.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,827 shares of the asset manager’s stock after selling 1,293 shares during the period. Cypress Capital Group’s holdings in Northern Trust were worth $573,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP raised its holdings in Northern Trust by 140.2% during the 4th quarter. Wellington Management Group LLP now owns 5,802,792 shares of the asset manager’s stock valued at $489,640,000 after acquiring an additional 3,387,002 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Northern Trust by 31.2% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 6,533,855 shares of the asset manager’s stock valued at $551,327,000 after purchasing an additional 1,553,783 shares during the period. Confluence Investment Management LLC purchased a new stake in Northern Trust during the 1st quarter worth about $105,665,000. Norges Bank bought a new position in Northern Trust in the 4th quarter worth about $90,532,000. Finally, Primecap Management Co. CA grew its holdings in Northern Trust by 6.1% during the 4th quarter. Primecap Management Co. CA now owns 6,891,902 shares of the asset manager’s stock valued at $581,539,000 after buying an additional 394,855 shares in the last quarter. Institutional investors own 83.19% of the company’s stock.

Northern Trust Trading Up 0.7 %

Shares of NASDAQ NTRS traded up $0.62 during midday trading on Monday, reaching $89.32. The company had a trading volume of 113,368 shares, compared to its average volume of 1,329,235. The stock has a market cap of $18.27 billion, a PE ratio of 19.58, a price-to-earnings-growth ratio of 1.29 and a beta of 1.10. Northern Trust Co. has a one year low of $62.44 and a one year high of $92.46. The firm’s fifty day moving average price is $85.33 and its 200-day moving average price is $84.09. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings data on Wednesday, July 17th. The asset manager reported $1.78 earnings per share for the quarter, beating 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 firm had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the previous year, the company posted $1.79 earnings per share. The business’s revenue was up 53.8% on a year-over-year basis. On average, equities research analysts anticipate that Northern Trust Co. will post 7.02 earnings per share for the current year.

Northern Trust Dividend Announcement

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 $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date is Friday, September 6th. Northern Trust’s dividend payout ratio (DPR) is presently 66.23%.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other Northern Trust news, EVP Teresa Parker sold 5,883 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $84.06, for a total transaction of $494,524.98. Following the completion of the transaction, the executive vice president now owns 83,765 shares of the company’s stock, valued at approximately $7,041,285.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.64% of the company’s stock.

Northern Trust 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.