Hsbc Holdings PLC Trims Stock Holdings in Northern Trust Co. (NASDAQ:NTRS)

Hsbc Holdings PLC lowered its holdings in Northern Trust Co. (NASDAQ:NTRS) by 23.2% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 387,926 shares of the asset manager’s stock after selling 117,291 shares during the period. Hsbc Holdings PLC owned about 0.19% of Northern Trust worth $32,617,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NTRS. Norges Bank bought a new position in Northern Trust during the 4th quarter worth approximately $90,532,000. UBS Group AG lifted its holdings in Northern Trust by 123.7% during the 4th quarter. UBS Group AG now owns 300,042 shares of the asset manager’s stock worth $25,318,000 after buying an additional 165,923 shares during the last quarter. Trexquant Investment LP bought a new position in Northern Trust during the 4th quarter worth approximately $1,559,000. Quest Partners LLC bought a new position in Northern Trust during the 4th quarter worth approximately $61,000. Finally, US Bancorp DE lifted its holdings in Northern Trust by 1.8% during the 4th quarter. US Bancorp DE now owns 27,976 shares of the asset manager’s stock worth $2,361,000 after buying an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Northern Trust Stock Down 0.8 %

NTRS opened at $91.90 on Friday. Northern Trust Co. has a 12 month low of $62.44 and a 12 month high of $92.82. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71. The stock 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 stock’s 50 day moving average price is $87.59 and its 200 day moving average price is $85.27.

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

Northern Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders 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 dividend yield of 3.26%. The ex-dividend date of this dividend is Friday, September 6th. Northern Trust’s dividend payout ratio (DPR) is presently 66.23%.

Analyst Upgrades and Downgrades

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

Insider Activity

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

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.