Northern Trust Corporation $NTRS Shares Sold by Cerity Partners LLC

Cerity Partners LLC lessened its stake in shares of Northern Trust Corporation (NASDAQ:NTRS) by 4.0% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 544,223 shares of the asset manager’s stock after selling 22,460 shares during the quarter. Cerity Partners LLC’s holdings in Northern Trust were worth $69,002,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in NTRS. New York Life Investment Management LLC boosted its position in shares of Northern Trust by 0.3% during the 2nd quarter. New York Life Investment Management LLC now owns 29,132 shares of the asset manager’s stock worth $3,694,000 after purchasing an additional 80 shares during the period. Welch Group LLC lifted its stake in Northern Trust by 2.8% during the second quarter. Welch Group LLC now owns 3,153 shares of the asset manager’s stock worth $400,000 after purchasing an additional 87 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in shares of Northern Trust by 9.0% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,062 shares of the asset manager’s stock worth $135,000 after buying an additional 88 shares during the period. Harbour Investments Inc. grew its stake in shares of Northern Trust by 10.0% in the second quarter. Harbour Investments Inc. now owns 1,032 shares of the asset manager’s stock valued at $131,000 after buying an additional 94 shares in the last quarter. Finally, Twin Capital Management Inc. raised its holdings in shares of Northern Trust by 0.5% in the 2nd quarter. Twin Capital Management Inc. now owns 20,071 shares of the asset manager’s stock valued at $2,545,000 after buying an additional 94 shares during the period. 83.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. BMO Capital Markets assumed coverage on Northern Trust in a report on Friday, October 3rd. They set a “market perform” rating and a $142.00 target price for the company. Cowen reissued a “buy” rating on shares of Northern Trust in a research note on Thursday, October 23rd. Wells Fargo & Company lifted their price objective on shares of Northern Trust from $127.00 to $131.00 and gave the company an “equal weight” rating in a report on Thursday, October 23rd. Truist Financial reduced their target price on shares of Northern Trust from $142.00 to $139.00 and set a “hold” rating on the stock in a report on Thursday, October 23rd. Finally, TD Cowen upped their price objective on Northern Trust from $152.00 to $155.00 and gave the stock a “buy” rating in a research 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 issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $132.46.

Northern Trust Stock Performance

Shares of NASDAQ:NTRS opened at $133.21 on Monday. Northern Trust Corporation has a 52 week low of $81.62 and a 52 week high of $135.48. The company’s 50 day moving average is $129.01 and its two-hundred day moving average is $125.33. The company has a market cap of $25.19 billion, a PE ratio of 15.53, a P/E/G ratio of 1.44 and a beta of 1.27. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.58.

Northern Trust (NASDAQ:NTRS) last posted its earnings results on Wednesday, October 22nd. The asset manager reported $2.29 EPS for the quarter, beating the consensus estimate of $2.26 by $0.03. The firm had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.02 billion. Northern Trust had a return on equity of 14.37% and a net margin of 11.99%.Northern Trust’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.22 earnings per share. Equities analysts predict that Northern Trust Corporation will post 8.27 earnings per share 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. Stockholders of record on Friday, December 5th will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Friday, December 5th. Northern Trust’s payout ratio is currently 37.30%.

Insider Activity at Northern Trust

In related news, Director Robert Edward Jr. Moritz purchased 3,891 shares of the business’s stock in a transaction that occurred on Tuesday, November 4th. The shares were purchased at an average cost of $128.57 per share, for a total transaction of $500,265.87. Following the purchase, the director directly owned 6,686 shares of the company’s stock, valued at $859,619.02. The trade was a 139.21% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John Landers sold 766 shares of the business’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $124.35, for a total transaction of $95,252.10. Following the completion of the sale, the insider directly owned 7,313 shares of the company’s stock, valued at approximately $909,371.55. This trade represents a 9.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.77% of the company’s stock.

Northern Trust Company 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.