UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Cuts Stock Holdings in Northern Trust Corporation $NTRS

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its holdings in shares of Northern Trust Corporation (NASDAQ:NTRS) by 12.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,355,184 shares of the asset manager’s stock after selling 200,253 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Northern Trust were worth $235,585,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. New Mexico Educational Retirement Board grew its holdings in Northern Trust by 5.7% in the second quarter. New Mexico Educational Retirement Board now owns 9,211 shares of the asset manager’s stock worth $1,601,000 after purchasing an additional 500 shares during the last quarter. Mufg Securities Americas Inc. lifted its holdings in shares of Northern Trust by 9.2% during the 2nd quarter. Mufg Securities Americas Inc. now owns 6,119 shares of the asset manager’s stock valued at $1,064,000 after purchasing an additional 516 shares during the last quarter. Navellier & Associates Inc. boosted its position in shares of Northern Trust by 22.6% in the 2nd quarter. Navellier & Associates Inc. now owns 4,061 shares of the asset manager’s stock worth $706,000 after purchasing an additional 748 shares in the last quarter. Field & Main Bank acquired a new stake in shares of Northern Trust in the 2nd quarter worth $174,000. Finally, Kingsview Wealth Management LLC purchased a new position in Northern Trust during the 2nd quarter worth $307,000. 83.19% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Northern Trust

In other news, Director Robert Edward Jr. Moritz purchased 255 shares of the firm’s stock in a transaction that occurred on Wednesday, July 29th. The stock was bought at an average price of $179.57 per share, for a total transaction of $45,790.35. Following the completion of the purchase, the director directly owned 8,400 shares of the company’s stock, valued at $1,508,388. The trade was a 3.13% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Thomas A. South sold 1,800 shares of the business’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 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. This represents a 1.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Truist Financial lifted their target price on shares of Northern Trust from $176.00 to $186.00 and gave the stock a “hold” rating in a research note on Friday, June 26th. UBS Group set a $186.00 price target on shares of Northern Trust in a report on Friday, June 26th. Evercore set a $179.00 price objective on shares of Northern Trust in a research note on Monday, July 6th. Morgan Stanley raised their target price on Northern Trust from $170.00 to $173.00 and gave the stock an “underweight” rating in a research note on Thursday, July 23rd. Finally, Royal Bank Of Canada cut shares of Northern Trust from an “outperform” rating to a “sector perform” rating and set a $178.00 price objective for the company. in a research note on Wednesday, July 22nd. Four analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Northern Trust presently has a consensus rating of “Hold” and an average price target of $180.68.

Northern Trust Trading Down 0.7%

NTRS opened at $185.56 on Tuesday. Northern Trust Corporation has a 1-year low of $121.12 and a 1-year high of $195.78. The firm has a market capitalization of $33.95 billion, a price-to-earnings ratio of 15.93, a price-to-earnings-growth ratio of 1.05 and a beta of 1.25. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.65 and a quick ratio of 0.65. The company’s 50 day simple moving average is $183.06 and its two-hundred day simple moving average is $164.87.

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

Northern Trust Increases Dividend

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

Northern Trust 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.