Amalgamated Bank Buys 5,451 Shares of Northern Trust Co. (NASDAQ:NTRS)

Amalgamated Bank lifted its stake in shares of Northern Trust Co. (NASDAQ:NTRS) by 10.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 57,191 shares of the asset manager’s stock after purchasing an additional 5,451 shares during the period. Amalgamated Bank’s holdings in Northern Trust were worth $4,803,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Olistico Wealth LLC bought a new stake in Northern Trust during the second quarter worth $25,000. Innealta Capital LLC bought a new stake in shares of Northern Trust in the 2nd quarter valued at about $26,000. Spartan Planning & Wealth Management lifted its stake in Northern Trust by 10,566.7% in the 4th quarter. Spartan Planning & Wealth Management now owns 320 shares of the asset manager’s stock valued at $27,000 after purchasing an additional 317 shares during the last quarter. Ridgewood Investments LLC bought a new position in Northern Trust during the second quarter worth about $30,000. Finally, Versant Capital Management Inc increased 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 during the last quarter. Institutional investors and hedge funds own 83.19% of the company’s stock.

Insider Buying and Selling at Northern Trust

In other news, EVP Mark C. Gossett sold 6,000 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $88.90, for a total value of $533,400.00. Following the completion of the transaction, the executive vice president now owns 28,707 shares of the company’s stock, valued at $2,552,052.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Charles A. Tribbett sold 1,855 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $88.12, for a total transaction of $163,462.60. Following the sale, the director now owns 1,000 shares in the company, valued at approximately $88,120. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark C. Gossett sold 6,000 shares of the company’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $88.90, for a total value of $533,400.00. Following the completion of the transaction, the executive vice president now directly owns 28,707 shares of the company’s stock, valued at approximately $2,552,052.30. The disclosure for this sale can be found here. Insiders have sold a total of 13,738 shares of company stock worth $1,191,388 over the last 90 days. Insiders own 0.64% of the company’s stock.

Northern Trust Price Performance

NTRS stock opened at $91.90 on Friday. The company’s 50-day moving average price is $87.59 and its two-hundred day moving average price is $85.27. The firm has a market cap of $18.80 billion, a P/E ratio of 20.29, a P/E/G ratio of 1.46 and a beta of 1.08. The company has a quick ratio of 0.71, a current 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.

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

Northern Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 6th will be paid a $0.75 dividend. 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 (DPR) is presently 66.23%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on NTRS. Deutsche Bank Aktiengesellschaft cut their price objective on Northern Trust from $85.00 to $84.00 and set a “hold” rating for the company in a research report on Thursday, August 15th. Royal Bank of Canada upped their price objective on shares of Northern Trust from $86.00 to $90.00 and gave the company an “outperform” rating in a report on Thursday, July 18th. Keefe, Bruyette & Woods cut their target price on shares of Northern Trust from $92.00 to $85.00 and set a “market perform” rating for the company in a research note on Thursday, June 27th. Morgan Stanley decreased 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 note on Tuesday, July 30th. Finally, The Goldman Sachs Group cut their price objective 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. Two 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. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $88.75.

Northern Trust Company 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.