Arjuna Capital Trims Position in Northern Trust Corporation $NTRS

Arjuna Capital decreased its position in shares of Northern Trust Corporation (NASDAQ:NTRS) by 4.8% during the second quarter, Holdings Channel reports. The institutional investor owned 7,556 shares of the asset manager’s stock after selling 383 shares during the period. Arjuna Capital’s holdings in Northern Trust were worth $958,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of NTRS. FNY Investment Advisers LLC bought a new stake in Northern Trust during the second quarter valued at about $25,000. AlphaCore Capital LLC grew its position in shares of Northern Trust by 87.4% during the second quarter. AlphaCore Capital LLC now owns 208 shares of the asset manager’s stock worth $27,000 after purchasing an additional 97 shares in the last quarter. Hantz Financial Services Inc. raised its stake in Northern Trust by 5,225.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 213 shares of the asset manager’s stock valued at $27,000 after purchasing an additional 209 shares during the period. Clearstead Trust LLC bought a new stake in Northern Trust during the 2nd quarter valued at approximately $29,000. Finally, GFG Capital LLC purchased a new position in Northern Trust in the 2nd quarter worth approximately $35,000. Institutional investors own 83.19% of the company’s stock.

Northern Trust Price Performance

Northern Trust stock opened at $130.98 on Tuesday. The company has a market cap of $24.77 billion, a price-to-earnings ratio of 15.27, a PEG ratio of 1.37 and a beta of 1.32. The firm’s fifty day moving average is $128.93 and its 200 day moving average is $124.62. The company has a quick ratio of 0.72, a current ratio of 0.70 and a debt-to-equity ratio of 0.58. Northern Trust Corporation has a 52-week low of $81.62 and a 52-week high of $135.48.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings data on Wednesday, October 22nd. The asset manager reported $2.29 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.03. Northern Trust had a net margin of 11.99% and a return on equity of 14.37%. The business had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.02 billion. During the same period last year, the company posted $2.22 EPS. The business’s revenue was up 2.8% on a year-over-year basis. Sell-side analysts forecast that Northern Trust Corporation will post 8.27 EPS for the current fiscal year.

Northern Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 1st. Investors of record on Friday, December 5th will be given a $0.80 dividend. The ex-dividend date is Friday, December 5th. This represents a $3.20 annualized dividend and a yield of 2.4%. Northern Trust’s dividend payout ratio (DPR) is currently 37.30%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on NTRS shares. Keefe, Bruyette & Woods increased their price objective on shares of Northern Trust from $123.00 to $125.00 and gave the company an “underperform” rating in a report on Thursday, October 23rd. TD Cowen upped their target price on shares of Northern Trust from $152.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday, October 23rd. Cowen reaffirmed a “buy” rating on shares of Northern Trust in a research note on Thursday, October 23rd. Wells Fargo & Company boosted their price target on shares of Northern Trust from $127.00 to $131.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 23rd. Finally, Truist Financial dropped their price objective on shares of Northern Trust from $142.00 to $139.00 and set a “hold” rating for the company in a report on Thursday, October 23rd. Five analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, Northern Trust currently has a consensus rating of “Hold” and a consensus price target of $132.46.

Insiders Place Their Bets

In other news, EVP Susan Cohen Levy sold 27,591 shares of Northern Trust stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $128.13, for a total value of $3,535,234.83. Following the completion of the transaction, the executive vice president owned 48,257 shares in the company, valued at approximately $6,183,169.41. The trade was a 36.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert Edward Jr. Moritz bought 3,891 shares of the business’s stock in a transaction dated Tuesday, November 4th. The shares were bought at an average cost of $128.57 per share, for a total transaction of $500,265.87. Following the transaction, the director owned 6,686 shares in the company, valued at approximately $859,619.02. The trade was a 139.21% increase in their position. The SEC filing for this purchase provides additional information. 0.77% of the stock is currently owned by insiders.

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.