Claro Advisors LLC Sells 298 Shares of Northern Trust Co. (NASDAQ:NTRS)

Claro Advisors LLC lowered its stake in shares of Northern Trust Co. (NASDAQ:NTRS) by 3.2% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,141 shares of the asset manager’s stock after selling 298 shares during the quarter. Claro Advisors LLC’s holdings in Northern Trust were worth $768,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in NTRS. Confluence Wealth Services Inc. increased its position in Northern Trust by 95.7% in the second quarter. Confluence Wealth Services Inc. now owns 4,690 shares of the asset manager’s stock worth $394,000 after buying an additional 2,294 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of Northern Trust by 77.9% during the 2nd quarter. Van ECK Associates Corp now owns 129,675 shares of the asset manager’s stock worth $10,890,000 after acquiring an additional 56,766 shares during the period. Commonwealth Equity Services LLC increased its holdings in Northern Trust by 3.8% in the 2nd quarter. Commonwealth Equity Services LLC now owns 41,457 shares of the asset manager’s stock worth $3,482,000 after acquiring an additional 1,509 shares during the last quarter. Rothschild Investment LLC bought a new stake in Northern Trust in the 2nd quarter valued at about $502,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Northern Trust by 1.3% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 20,449 shares of the asset manager’s stock valued at $1,717,000 after purchasing an additional 254 shares during the last quarter. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Activity at Northern Trust

In other Northern Trust news, EVP Teresa Parker sold 5,883 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $84.06, for a total value of $494,524.98. Following the completion of the transaction, the executive vice president now directly owns 83,765 shares in the company, valued at approximately $7,041,285.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Mark C. Gossett sold 6,000 shares of Northern Trust stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $88.90, for a total value of $533,400.00. Following the completion of the transaction, the executive vice president now owns 28,707 shares of the company’s stock, valued at approximately $2,552,052.30. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Teresa Parker sold 5,883 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $84.06, for a total transaction of $494,524.98. Following the sale, the executive vice president now directly owns 83,765 shares in the company, valued at $7,041,285.90. The disclosure for this sale can be found here. 0.64% of the stock is currently owned by company insiders.

Northern Trust Price Performance

NTRS stock opened at $91.21 on Monday. The firm has a market cap of $18.39 billion, a P/E ratio of 20.13, a P/E/G ratio of 1.53 and a beta of 1.10. The firm’s fifty day moving average is $86.02 and its 200 day moving average is $84.45. Northern Trust Co. has a 52 week low of $62.44 and a 52 week high of $92.46. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings results on Wednesday, July 17th. The asset manager reported $1.78 earnings per share (EPS) for the quarter, topping 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 business had revenue of $2.72 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same period last year, the company earned $1.79 EPS. Northern Trust’s revenue for the quarter was up 53.8% compared to the same quarter last year. Research analysts predict that Northern Trust Co. will post 7.01 earnings per share for the current year.

Northern Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 6th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date of this dividend is Friday, September 6th. Northern Trust’s payout ratio is 66.23%.

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.