Choreo LLC Has $371,000 Position in Northern Trust Co. (NASDAQ:NTRS)

Choreo LLC boosted its position in Northern Trust Co. (NASDAQ:NTRS) by 85.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,423 shares of the asset manager’s stock after purchasing an additional 2,033 shares during the quarter. Choreo LLC’s holdings in Northern Trust were worth $371,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Olistico Wealth LLC acquired a new position in shares of Northern Trust in the second quarter valued at about $25,000. Innealta Capital LLC bought a new position in shares of Northern Trust during the second quarter worth approximately $26,000. Spartan Planning & Wealth Management raised its position in shares of Northern Trust by 10,566.7% in the fourth quarter. Spartan Planning & Wealth Management now owns 320 shares of the asset manager’s stock valued at $27,000 after buying an additional 317 shares in the last quarter. Ridgewood Investments LLC bought a new stake in shares of Northern Trust in the second quarter valued at approximately $30,000. Finally, Versant Capital Management Inc grew its position in Northern Trust by 343.9% during the second quarter. Versant Capital Management Inc now owns 435 shares of the asset manager’s stock worth $37,000 after buying an additional 337 shares in the last quarter. 83.19% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Charles A. Tribbett sold 1,855 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $88.12, for a total value of $163,462.60. Following the sale, the director now directly owns 1,000 shares in the company, valued at $88,120. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Teresa Parker sold 5,883 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $84.06, for a total value of $494,524.98. Following the transaction, the executive vice president now owns 83,765 shares in the company, valued at $7,041,285.90. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Charles A. Tribbett sold 1,855 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $88.12, for a total value of $163,462.60. Following the sale, the director now owns 1,000 shares of the company’s stock, valued at $88,120. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,738 shares of company stock valued at $1,191,388. Company insiders own 0.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Royal Bank of Canada lifted their price objective on Northern Trust from $86.00 to $90.00 and gave the company an “outperform” rating in a report on Thursday, July 18th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Northern Trust from $85.00 to $84.00 and set a “hold” rating on the stock in a research note on Thursday, August 15th. The Goldman Sachs Group dropped their target price on shares of Northern Trust from $94.00 to $84.00 and set a “neutral” rating for the company in a research report on Tuesday, July 2nd. Morgan Stanley reduced their price target on shares of Northern Trust from $97.00 to $93.00 and set an “underweight” rating on the stock in a research report on Tuesday, July 30th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of Northern Trust from $92.00 to $85.00 and set a “market perform” rating for the company in a research report on Thursday, June 27th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Northern Trust presently has an average rating of “Hold” and a consensus target price of $88.75.

Northern Trust Stock Up 1.7 %

Shares of NASDAQ NTRS opened at $89.75 on Tuesday. The company has a 50 day simple moving average of $87.19 and a 200 day simple moving average of $85.07. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71. Northern Trust Co. has a 1 year low of $62.44 and a 1 year high of $92.46. The firm has a market cap of $18.36 billion, a PE ratio of 19.81, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings results on Wednesday, July 17th. The asset manager reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.03. Northern Trust had a net margin of 10.53% and a return on equity of 12.24%. The firm had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter last year, the firm earned $1.79 earnings per share. The company’s revenue for the quarter was up 53.8% on a year-over-year basis. On average, research analysts forecast that Northern Trust Co. will post 7.01 EPS for the current year.

Northern Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th will be given a $0.75 dividend. The ex-dividend date is Friday, September 6th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.34%. Northern Trust’s dividend payout ratio (DPR) is presently 66.23%.

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.