Northern Trust Co. (NASDAQ:NTRS) Shares Sold by First City Capital Management Inc.

First City Capital Management Inc. decreased its holdings in shares of Northern Trust Co. (NASDAQ:NTRS) by 20.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,565 shares of the asset manager’s stock after selling 1,152 shares during the period. First City Capital Management Inc.’s holdings in Northern Trust were worth $383,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Wellington Management Group LLP grew its stake in shares of Northern Trust by 140.2% in the 4th quarter. Wellington Management Group LLP now owns 5,802,792 shares of the asset manager’s stock valued at $489,640,000 after purchasing an additional 3,387,002 shares during the last quarter. Confluence Investment Management LLC purchased a new position in Northern Trust in the 1st quarter valued at $105,665,000. Norges Bank acquired a new position in Northern Trust in the 4th quarter valued at $90,532,000. Massachusetts Financial Services Co. MA raised its position in Northern Trust by 13.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,413,620 shares of the asset manager’s stock worth $622,596,000 after buying an additional 850,556 shares during the last quarter. Finally, Panagora Asset Management Inc. raised its position in Northern Trust by 4,660.5% during the 2nd quarter. Panagora Asset Management Inc. now owns 399,932 shares of the asset manager’s stock worth $33,586,000 after buying an additional 391,531 shares during the last quarter. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on NTRS. Deutsche Bank Aktiengesellschaft cut their price target on shares of Northern Trust from $85.00 to $84.00 and set a “hold” rating for the company in a report on Thursday, August 15th. Morgan Stanley decreased their price target 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. 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 report on Thursday, June 27th. Royal Bank of Canada raised their target price on Northern Trust from $86.00 to $90.00 and gave the company an “outperform” rating in a report on Thursday, July 18th. Finally, The Goldman Sachs Group decreased their target price on shares of Northern Trust from $94.00 to $84.00 and set a “neutral” rating on the stock 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’s stock. According to data from MarketBeat.com, Northern Trust has a consensus rating of “Hold” and an average target price of $88.75.

Northern Trust Stock Down 0.8 %

Shares of NASDAQ:NTRS opened at $91.90 on Friday. The company has a market capitalization 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 fifty day simple moving average is $87.59 and its 200-day simple moving average is $85.27. Northern Trust Co. has a 52-week low of $62.44 and a 52-week high of $92.82. 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 (NASDAQ:NTRS) last released 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 business had revenue of $2.72 billion for 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 company’s quarterly revenue was up 53.8% on a year-over-year basis. During the same period last year, the company earned $1.79 earnings per share. As a group, equities research analysts forecast that Northern Trust Co. will post 7.01 earnings per share for the current fiscal year.

Northern Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th will be paid a $0.75 dividend. 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 is currently 66.23%.

Insider Buying and Selling at Northern Trust

In other news, EVP Teresa Parker sold 5,883 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $84.06, for a total value of $494,524.98. Following the completion of the sale, the executive vice president now owns 83,765 shares of the company’s stock, valued at $7,041,285.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, EVP Mark C. Gossett sold 6,000 shares of the 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 owns 28,707 shares of the company’s stock, valued at $2,552,052.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Teresa Parker sold 5,883 shares of the firm’s 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 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. Insiders have sold a total of 13,738 shares of company stock valued at $1,191,388 over the last ninety days. Corporate insiders own 0.64% of the company’s stock.

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.