Thrivent Financial for Lutherans Trims Stock Position in Northern Trust Corporation $NTRS

Thrivent Financial for Lutherans cut its stake in Northern Trust Corporation (NASDAQ:NTRS) by 23.5% in the 3rd quarter, Holdings Channel reports. The firm owned 860,055 shares of the asset manager’s stock after selling 264,722 shares during the period. Thrivent Financial for Lutherans’ holdings in Northern Trust were worth $115,763,000 at the end of the most recent quarter.

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

Northern Trust Stock Performance

Shares of NTRS stock opened at $149.43 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.57. The company has a 50 day moving average price of $140.34 and a 200-day moving average price of $132.71. Northern Trust Corporation has a 52 week low of $81.62 and a 52 week high of $157.60. The firm has a market capitalization of $28.26 billion, a PE ratio of 17.10, a P/E/G ratio of 1.22 and a beta of 1.27.

Northern Trust (NASDAQ:NTRS) last issued its earnings results on Friday, January 30th. The asset manager reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.37 by $0.05. Northern Trust had a net margin of 12.15% and a return on equity of 14.87%. The company had revenue of $3.15 billion for the quarter. During the same quarter in the prior year, the business posted $2.26 EPS. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, equities research analysts expect that Northern Trust Corporation will post 8.27 earnings per share for the current year.

Northern Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 6th will be issued a $0.80 dividend. The ex-dividend date of this dividend is Friday, March 6th. This represents a $3.20 annualized dividend and a dividend yield of 2.1%. Northern Trust’s payout ratio is presently 36.61%.

Insider Transactions at Northern Trust

In other Northern Trust news, insider John Landers sold 766 shares of the business’s stock in a transaction dated Monday, November 17th. The stock was 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 in the company, valued at $909,371.55. The trade was a 9.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert Edward Jr. Moritz acquired 3,891 shares of the stock in a transaction dated Tuesday, November 4th. The stock was acquired at an average price of $128.57 per share, for a total transaction of $500,265.87. Following the purchase, the director directly owned 6,686 shares in the company, valued at approximately $859,619.02. This trade represents a 139.21% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold a total of 53,357 shares of company stock worth $7,370,987 in the last three months. 0.77% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Truist Financial set a $148.00 price target on shares of Northern Trust in a research note on Wednesday, January 7th. Barclays boosted their price target on Northern Trust from $136.00 to $160.00 and gave the stock an “equal weight” rating in a research report on Monday, January 5th. TD Cowen raised their price objective on Northern Trust from $165.00 to $175.00 and gave the company a “buy” rating in a research report on Monday, January 26th. Wells Fargo & Company boosted their target price on Northern Trust from $145.00 to $150.00 and gave the stock an “equal weight” rating in a report on Friday, January 23rd. Finally, The Goldman Sachs Group raised their price target on Northern Trust from $130.00 to $148.00 and gave the company a “sell” rating in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, Northern Trust presently has a consensus rating of “Hold” and a consensus target price of $148.75.

Northern Trust Company Profile

Northern Trust Corporation (NASDAQ: NTRS) is a global financial services firm headquartered in Chicago that provides asset servicing, asset management and wealth management solutions to institutions, corporations and high-net-worth individuals. The company’s core businesses include custody and fund administration, investment operations outsourcing, trust and fiduciary services, private banking, and retirement and defined contribution plan services.

Northern Trust’s product and service offerings span custody and fund accounting, portfolio and performance analytics, securities lending, cash management and foreign exchange, as well as discretionary and non-discretionary investment management.