Brown Advisory Inc. Sells 7,355 Shares of Northern Trust Corporation $NTRS

Brown Advisory Inc. decreased its holdings in Northern Trust Corporation (NASDAQ:NTRS) by 7.7% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 88,318 shares of the asset manager’s stock after selling 7,355 shares during the period. Brown Advisory Inc.’s holdings in Northern Trust were worth $11,198,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in NTRS. Cullen Frost Bankers Inc. grew its position in shares of Northern Trust by 84.8% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 1,567 shares of the asset manager’s stock worth $199,000 after buying an additional 719 shares during the last quarter. First Pacific Financial bought a new position in shares of Northern Trust during the second quarter valued at approximately $3,118,000. LPL Financial LLC lifted its stake in Northern Trust by 48.4% in the first quarter. LPL Financial LLC now owns 67,068 shares of the asset manager’s stock worth $6,616,000 after acquiring an additional 21,884 shares during the period. Atria Wealth Solutions Inc. boosted its holdings in Northern Trust by 87.7% in the first quarter. Atria Wealth Solutions Inc. now owns 5,568 shares of the asset manager’s stock valued at $553,000 after acquiring an additional 2,601 shares in the last quarter. Finally, Aviva PLC boosted its holdings in Northern Trust by 8.4% in the second quarter. Aviva PLC now owns 149,911 shares of the asset manager’s stock valued at $19,007,000 after acquiring an additional 11,587 shares in the last quarter. Institutional investors own 83.19% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on NTRS shares. Wall Street Zen lowered shares of Northern Trust from a “hold” rating to a “sell” rating in a report on Saturday, October 25th. Cowen reiterated a “buy” rating on shares of Northern Trust in a research report on Thursday, October 23rd. Citigroup increased their price target on shares of Northern Trust from $110.00 to $135.00 and gave the stock a “neutral” rating in a research note on Friday, September 5th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Northern Trust in a research report on Wednesday, October 8th. Finally, TD Cowen upped their target price on Northern Trust from $152.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. Five equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $132.46.

Northern Trust Stock Performance

NASDAQ:NTRS opened at $133.21 on Monday. The firm has a market capitalization of $25.19 billion, a P/E ratio of 15.53, a PEG ratio of 1.44 and a beta of 1.27. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.70 and a quick ratio of 0.70. Northern Trust Corporation has a one year low of $81.62 and a one year high of $135.48. The company’s 50-day simple moving average is $129.01 and its 200 day simple moving average is $125.33.

Northern Trust (NASDAQ:NTRS) last announced its earnings results on Wednesday, October 22nd. The asset manager reported $2.29 earnings per share for the quarter, beating 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 the consensus estimate of $2.02 billion. During the same quarter last year, the firm earned $2.22 earnings per share. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. As a group, analysts forecast that Northern Trust Corporation will post 8.27 EPS for the current fiscal year.

Northern Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 1st. Shareholders of record on Friday, December 5th will be paid a dividend of $0.80 per share. The ex-dividend date is Friday, December 5th. This represents a $3.20 dividend on an annualized basis and a yield of 2.4%. Northern Trust’s payout ratio is presently 37.30%.

Insiders Place Their Bets

In related news, Director Robert Edward Jr. Moritz purchased 3,891 shares of the stock in a transaction dated Tuesday, November 4th. The stock was purchased at an average price of $128.57 per share, with a total value of $500,265.87. Following the transaction, the director directly owned 6,686 shares in the company, valued at $859,619.02. This trade represents a 139.21% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Susan Cohen Levy sold 27,591 shares of the company’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $128.13, for a total transaction 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 disclosure for this sale is available in the SEC filing. Corporate insiders own 0.77% of the company’s stock.

About Northern Trust

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.