King Luther Capital Management Corp Has $3.99 Million Stake in Northern Trust Co. (NASDAQ:NTRS)

King Luther Capital Management Corp decreased its stake in shares of Northern Trust Co. (NASDAQ:NTRS) by 2.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 47,463 shares of the asset manager’s stock after selling 1,300 shares during the quarter. King Luther Capital Management Corp’s holdings in Northern Trust were worth $3,986,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Olistico Wealth LLC acquired a new stake in shares of Northern Trust during the 2nd quarter worth approximately $25,000. Innealta Capital LLC bought a new position in shares of Northern Trust in the 2nd quarter worth $26,000. Spartan Planning & Wealth Management lifted its holdings in shares of Northern Trust by 10,566.7% in the 4th quarter. Spartan Planning & Wealth Management now owns 320 shares of the asset manager’s stock worth $27,000 after purchasing an additional 317 shares in the last quarter. Ridgewood Investments LLC bought a new position in shares of Northern Trust in the 2nd quarter worth $30,000. Finally, Versant Capital Management Inc lifted its holdings in shares of Northern Trust by 343.9% in the 2nd quarter. Versant Capital Management Inc now owns 435 shares of the asset manager’s stock worth $37,000 after purchasing an additional 337 shares in the last quarter. Institutional investors and hedge funds own 83.19% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on NTRS shares. Deutsche Bank Aktiengesellschaft cut their target price on Northern Trust from $85.00 to $84.00 and set a “hold” rating on the stock in a report on Thursday, August 15th. 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 dropped their price objective on Northern Trust from $97.00 to $93.00 and set an “underweight” rating on the stock in a research note on Tuesday, July 30th. The Goldman Sachs Group dropped their price objective on Northern Trust from $94.00 to $84.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 2nd. Finally, Keefe, Bruyette & Woods dropped their price objective 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 research analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $88.75.

Insider Activity

In other news, Director Charles A. Tribbett sold 1,855 shares of Northern Trust stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $88.12, for a total transaction of $163,462.60. Following the completion of 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 SEC, which is accessible through this hyperlink. In other news, Director Charles A. Tribbett sold 1,855 shares of Northern Trust stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $88.12, for a total transaction of $163,462.60. Following the completion of 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 SEC, which is accessible through this hyperlink. Also, EVP Teresa Parker sold 5,883 shares of Northern Trust stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $84.06, for a total value of $494,524.98. Following the sale, the executive vice president now owns 83,765 shares of the company’s stock, valued at approximately $7,041,285.90. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,738 shares of company stock worth $1,191,388. 0.64% of the stock is currently owned by insiders.

Northern Trust Trading Down 0.8 %

Shares of Northern Trust stock opened at $91.90 on Friday. The stock has a fifty day moving average price of $87.59 and a 200-day moving average price of $85.27. Northern Trust Co. has a 1 year low of $62.44 and a 1 year high of $92.82. The firm has a market cap of $18.80 billion, a PE ratio of 20.29, a P/E/G ratio of 1.46 and a beta of 1.08. 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 (NASDAQ:NTRS) last posted its earnings results on Wednesday, July 17th. The asset manager reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.03. The business had revenue of $2.72 billion during the quarter, compared to analyst estimates of $1.84 billion. Northern Trust had a return on equity of 12.24% and a net margin of 10.53%. The company’s quarterly revenue was up 53.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.79 EPS. Equities research analysts anticipate that Northern Trust Co. will post 7.01 EPS for the current year.

Northern Trust Dividend Announcement

The firm 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. The ex-dividend date is Friday, September 6th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.26%. Northern Trust’s dividend payout ratio (DPR) is presently 66.23%.

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.