3,853 Northern Trust Corporation $NTRS Shares Sold by Confluence Wealth Services Inc.

Confluence Wealth Services Inc. trimmed its position in Northern Trust Corporation (NASDAQ:NTRS) by 75.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 1,278 shares of the asset manager’s stock after selling 3,853 shares during the period. Confluence Wealth Services Inc.’s holdings in Northern Trust were worth $216,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. HWG Holdings LP purchased a new position in shares of Northern Trust in the third quarter worth approximately $4,470,000. Renaissance Technologies LLC purchased a new stake in Northern Trust during the first quarter valued at approximately $2,303,000. Oppenheimer Asset Management Inc. purchased a new stake in Northern Trust during the second quarter valued at approximately $25,721,000. Bank of America Corp DE raised its position in Northern Trust by 5.6% in the first quarter. Bank of America Corp DE now owns 622,852 shares of the asset manager’s stock worth $86,931,000 after acquiring an additional 33,029 shares during the period. Finally, Nykredit A S bought a new position in Northern Trust in the second quarter worth approximately $11,432,000. 83.19% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Citigroup dropped their price target on shares of Northern Trust from $186.00 to $170.00 and set a “neutral” rating on the stock in a research note on Friday, October 23rd. Zacks Research lowered Northern Trust from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 25th. BMO Capital Markets decreased their target price on Northern Trust from $208.00 to $190.00 and set an “outperform” rating on the stock in a report on Tuesday, October 6th. Weiss Ratings upgraded Northern Trust from a “buy (b)” rating to a “buy (b+)” rating in a research report on Wednesday, November 4th. Finally, Keefe, Bruyette & Woods cut their price target on Northern Trust from $175.00 to $170.00 in a report on Thursday, October 8th. Two research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $181.03.

Northern Trust Trading Down 0.6%

Northern Trust stock opened at $177.67 on Friday. The firm has a 50 day moving average of $173.66 and a 200 day moving average of $166.56. The firm has a market capitalization of $32.18 billion, a price-to-earnings ratio of 15.45, a P/E/G ratio of 0.91 and a beta of 1.21. Northern Trust Corporation has a 12-month low of $121.53 and a 12-month high of $195.78. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.43.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings results on Wednesday, October 21st. The asset manager reported $3.40 earnings per share for the quarter, beating the consensus estimate of $2.87 by $0.53. Northern Trust had a net margin of 15.86% and a return on equity of 17.97%. The business had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter in the previous year, the firm earned $2.29 earnings per share. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. As a group, research analysts predict that Northern Trust Corporation will post 12.06 earnings per share for the current year.

Northern Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 1st. Stockholders of record on Friday, December 4th will be given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Friday, December 4th. Northern Trust’s dividend payout ratio (DPR) is presently 27.59%.

Insider Activity at Northern Trust

In related news, EVP Thomas A. South sold 1,800 shares of Northern Trust stock in a transaction on Monday, August 24th. The shares were sold at an average price of $184.90, for a total transaction of $332,820.00. Following 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Susan Levy sold 16,984 shares of the company’s stock in a transaction on Friday, October 23rd. The stock was sold at an average price of $168.15, for a total transaction of $2,855,859.60. Following the completion of the transaction, the executive vice president directly owned 59,378 shares of the company’s stock, valued at $9,984,410.70. This represents a 22.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 22,706 shares of company stock worth $3,850,282. 0.66% of the stock is owned by corporate insiders.

Northern Trust Company Profile

Northern Trust Corporation is a financial services company headquartered in Chicago. Founded in 1889, it provides services to institutions, corporations, governments, and individuals and families. The company’s businesses include asset servicing, asset management, wealth management, and banking. Its services include investment management, custody and administration, fiduciary services, banking, and financial planning. Northern Trust serves clients in the United States and internationally, with operations across multiple regions.