First Trust Advisors LP Sells 9,108 Shares of Northern Trust Corporation $NTRS

First Trust Advisors LP trimmed its stake in shares of Northern Trust Corporation (NASDAQ:NTRSFree Report) by 1.1% in the 1st quarter, HoldingsChannel.com reports. The fund owned 855,848 shares of the asset manager’s stock after selling 9,108 shares during the period. First Trust Advisors LP’s holdings in Northern Trust were worth $119,451,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Reflection Asset Management purchased a new stake in Northern Trust in the 4th quarter worth $25,000. Triumph Capital Management purchased a new position in shares of Northern Trust during the third quarter valued at about $25,000. Elyxium Wealth LLC bought a new stake in shares of Northern Trust in the fourth quarter worth about $34,000. International Assets Investment Management LLC purchased a new stake in shares of Northern Trust in the fourth quarter worth about $35,000. Finally, Transamerica Financial Advisors LLC lifted its position in shares of Northern Trust by 54.1% in the fourth quarter. Transamerica Financial Advisors LLC now owns 265 shares of the asset manager’s stock worth $36,000 after buying an additional 93 shares in the last quarter. 83.19% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Citigroup increased their price target on Northern Trust from $162.00 to $172.00 and gave the company a “neutral” rating in a research note on Tuesday, June 30th. Wells Fargo & Company upped their price objective on Northern Trust from $189.00 to $194.00 and gave the stock an “equal weight” rating in a report on Thursday. The Goldman Sachs Group increased their target price on Northern Trust from $151.00 to $169.00 and gave the company a “neutral” rating in a research report on Wednesday, April 22nd. Royal Bank Of Canada lowered shares of Northern Trust from an “outperform” rating to a “sector perform” rating and set a $178.00 target price for the company. in a report on Wednesday. Finally, Bank of America boosted their price target on shares of Northern Trust from $190.00 to $200.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $180.25.

Check Out Our Latest Stock Analysis on Northern Trust

Northern Trust Stock Performance

Shares of NASDAQ:NTRS opened at $177.95 on Friday. The company has a market capitalization of $32.93 billion, a price-to-earnings ratio of 15.27, a PEG ratio of 1.14 and a beta of 1.25. Northern Trust Corporation has a 12 month low of $121.12 and a 12 month high of $191.60. The firm’s 50-day moving average is $174.47 and its 200 day moving average is $157.71. The company has a current ratio of 0.65, a quick ratio of 0.62 and a debt-to-equity ratio of 0.43.

Northern Trust (NASDAQ:NTRSGet Free Report) last announced its quarterly earnings data on Tuesday, April 21st. The asset manager reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.37 by $0.34. Northern Trust had a net margin of 14.76% and a return on equity of 16.91%. The business had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter last year, the firm earned $1.90 earnings per share. The firm’s quarterly revenue was up 13.8% compared to the same quarter last year. Research analysts predict that Northern Trust Corporation will post 11.29 EPS for the current year.

Northern Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 4th will be issued a $0.88 dividend. The ex-dividend date is Friday, September 4th. This is a positive change from Northern Trust’s previous quarterly dividend of $0.80. This represents a $3.52 annualized dividend and a dividend yield of 2.0%. Northern Trust’s dividend payout ratio (DPR) is currently 33.51%.

Insider Activity at Northern Trust

In related news, CFO David W. Fox, Jr. sold 19,987 shares of the firm’s stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $166.16, for a total transaction of $3,321,039.92. Following the completion of the sale, the chief financial officer directly owned 18,588 shares of the company’s stock, valued at approximately $3,088,582.08. This trade represents a 51.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert Edward Jr. Moritz acquired 225 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The shares were acquired at an average price of $166.41 per share, with a total value of $37,442.25. Following the acquisition, the director owned 8,145 shares in the company, valued at $1,355,409.45. This trade represents a 2.84% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.66% of the company’s stock.

Key Stories Impacting Northern Trust

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Northern Trust Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Northern Trust (NASDAQ:NTRS)

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