Elo Mutual Pension Insurance Co Cuts Holdings in Northern Trust Co. (NASDAQ:NTRS)

Elo Mutual Pension Insurance Co lowered its stake in shares of Northern Trust Co. (NASDAQ:NTRS) by 5.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,855 shares of the asset manager’s stock after selling 993 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Northern Trust were worth $1,499,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of NTRS. DekaBank Deutsche Girozentrale raised its position in shares of Northern Trust by 0.3% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 43,713 shares of the asset manager’s stock worth $3,608,000 after acquiring an additional 120 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Northern Trust by 1.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 10,584 shares of the asset manager’s stock worth $889,000 after purchasing an additional 131 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its position in shares of Northern Trust by 23.1% during the second quarter. Massmutual Trust Co. FSB ADV now owns 805 shares of the asset manager’s stock valued at $68,000 after buying an additional 151 shares during the last quarter. Harvest Investment Advisors LLC boosted its holdings in shares of Northern Trust by 1.0% in the 4th quarter. Harvest Investment Advisors LLC now owns 16,291 shares of the asset manager’s stock valued at $1,375,000 after buying an additional 160 shares in the last quarter. Finally, First Trust Direct Indexing L.P. grew its position in shares of Northern Trust by 4.5% in the 1st quarter. First Trust Direct Indexing L.P. now owns 4,257 shares of the asset manager’s stock worth $379,000 after buying an additional 182 shares during the last quarter. Institutional investors own 83.19% of the company’s stock.

Northern Trust Stock Performance

NTRS opened at $91.90 on Friday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. Northern Trust Co. has a 12-month low of $62.44 and a 12-month high of $92.82. The firm has a 50 day moving average of $87.59 and a two-hundred day moving average of $85.27. The firm has a market capitalization of $18.80 billion, a PE ratio of 20.29, a P/E/G ratio of 1.46 and a beta of 1.08.

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

Northern Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 6th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 3.26%. The ex-dividend date is Friday, September 6th. Northern Trust’s dividend payout ratio is currently 66.23%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Northern Trust

In other news, EVP Teresa Parker sold 5,883 shares of Northern Trust stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $84.06, for a total transaction of $494,524.98. Following the completion of the transaction, the executive vice president now directly owns 83,765 shares of the company’s stock, valued at approximately $7,041,285.90. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Charles A. Tribbett sold 1,855 shares of the business’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 completion of the sale, the director now directly owns 1,000 shares in the company, valued at $88,120. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Teresa Parker sold 5,883 shares of the stock in a transaction that occurred 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 approximately $7,041,285.90. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,738 shares of company stock valued at $1,191,388. 0.64% of the stock is owned by company insiders.

Northern Trust 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.