Great Lakes Advisors LLC Sells 3,552 Shares of Northern Trust Corporation $NTRS

Great Lakes Advisors LLC lessened its stake in shares of Northern Trust Corporation (NASDAQ:NTRS) by 10.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,936 shares of the asset manager’s stock after selling 3,552 shares during the period. Great Lakes Advisors LLC’s holdings in Northern Trust were worth $4,299,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of NTRS. Empowered Funds LLC grew its holdings in shares of Northern Trust by 13.3% during the 1st quarter. Empowered Funds LLC now owns 20,112 shares of the asset manager’s stock worth $1,984,000 after purchasing an additional 2,363 shares in the last quarter. Woodline Partners LP grew its stake in Northern Trust by 39.1% during the first quarter. Woodline Partners LP now owns 16,557 shares of the asset manager’s stock worth $1,633,000 after buying an additional 4,653 shares in the last quarter. HB Wealth Management LLC increased its holdings in Northern Trust by 12.8% in the 2nd quarter. HB Wealth Management LLC now owns 4,159 shares of the asset manager’s stock valued at $527,000 after buying an additional 472 shares during the period. Cooper Financial Group raised its position in shares of Northern Trust by 7.1% in the 2nd quarter. Cooper Financial Group now owns 2,634 shares of the asset manager’s stock valued at $334,000 after buying an additional 175 shares in the last quarter. Finally, Parsons Capital Management Inc. RI bought a new stake in shares of Northern Trust during the 2nd quarter worth approximately $211,000. 83.19% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Northern Trust news, EVP Susan Cohen Levy sold 27,591 shares of the stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $128.13, for a total transaction of $3,535,234.83. Following the completion of the sale, the executive vice president owned 48,257 shares of the company’s stock, valued at approximately $6,183,169.41. This represents a 36.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Peter Cherecwich sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $149.62, for a total transaction of $3,740,500.00. Following the transaction, the chief operating officer owned 26,259 shares of the company’s stock, valued at approximately $3,928,871.58. The trade was a 48.77% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 53,357 shares of company stock valued at $7,370,987. Insiders own 0.77% of the company’s stock.

Northern Trust Price Performance

NTRS stock opened at $149.43 on Friday. The company has a market capitalization of $28.26 billion, a P/E ratio of 17.10, a PEG ratio of 1.22 and a beta of 1.27. The company has a fifty day moving average price of $140.34 and a 200-day moving average price of $132.65. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.70 and a current ratio of 0.69. Northern Trust Corporation has a 52-week low of $81.62 and a 52-week high of $157.60.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings data on Friday, January 30th. The asset manager reported $2.42 earnings per share for the quarter, beating analysts’ consensus estimates of $2.37 by $0.05. The business had revenue of $3.15 billion during the quarter. Northern Trust had a return on equity of 14.87% and a net margin of 12.15%.The business’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.26 earnings per share. As a group, equities analysts expect that Northern Trust Corporation will post 8.27 EPS for the current year.

Northern Trust Announces Dividend

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

Analyst Ratings Changes

Several research analysts have commented on the stock. TD Cowen boosted their price objective on shares of Northern Trust from $165.00 to $175.00 and gave the company a “buy” rating in a research report on Monday, January 26th. Royal Bank Of Canada boosted their price target on Northern Trust from $139.00 to $159.00 and gave the stock an “outperform” rating in a report on Friday, January 23rd. BMO Capital Markets initiated coverage on Northern Trust in a research report on Friday, October 3rd. They set a “market perform” rating and a $142.00 price objective for the company. Wall Street Zen raised Northern Trust from a “sell” rating to a “hold” rating in a research note on Saturday, December 27th. Finally, Barclays boosted their target price on Northern Trust from $136.00 to $160.00 and gave the stock an “equal weight” rating in a research note on Monday, January 5th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Northern Trust currently has an average rating of “Hold” and a consensus price target 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.