Diversified Trust Co Cuts Stock Holdings in Northern Trust Co. (NASDAQ:NTRS)

Diversified Trust Co trimmed its holdings in shares of Northern Trust Co. (NASDAQ:NTRS) by 22.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,338 shares of the asset manager’s stock after selling 5,604 shares during the period. Diversified Trust Co’s holdings in Northern Trust were worth $1,741,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Wellington Management Group LLP increased its holdings in Northern Trust by 140.2% in the fourth quarter. Wellington Management Group LLP now owns 5,802,792 shares of the asset manager’s stock valued at $489,640,000 after buying an additional 3,387,002 shares in the last quarter. Confluence Investment Management LLC purchased a new position in shares of Northern Trust in the first quarter valued at $105,665,000. Massachusetts Financial Services Co. MA raised its stake in shares of 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. Panagora Asset Management Inc. boosted its position in shares of Northern Trust by 4,660.5% in 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 in the last quarter. Finally, Primecap Management Co. CA grew its stake in Northern Trust by 3.9% in the 2nd quarter. Primecap Management Co. CA now owns 7,046,757 shares of the asset manager’s stock valued at $591,787,000 after acquiring an additional 261,285 shares during the last quarter. 83.19% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Mark C. Gossett sold 6,000 shares of Northern Trust stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $88.90, for a total transaction of $533,400.00. Following the transaction, the executive vice president now owns 28,707 shares in the company, valued at approximately $2,552,052.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 sale, the executive vice president now owns 83,765 shares in the company, valued at $7,041,285.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Mark C. Gossett sold 6,000 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $88.90, for a total transaction 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. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 13,738 shares of company stock worth $1,191,388 over the last ninety days. 0.64% of the stock is owned by company insiders.

Northern Trust Stock Performance

Shares of NTRS stock opened at $91.06 on Wednesday. The firm has a market capitalization of $18.63 billion, a price-to-earnings ratio of 20.06, a price-to-earnings-growth ratio of 1.53 and a beta of 1.08. The company has a 50 day moving average price of $88.09 and a 200 day moving average price of $85.90. Northern Trust Co. has a one year low of $62.44 and a one year high of $92.82. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71.

Northern Trust (NASDAQ:NTRS) last issued its earnings results on Wednesday, July 17th. The asset manager reported $1.78 earnings per share 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 analyst estimates of $1.84 billion. Northern Trust had a return on equity of 12.24% and a net margin of 10.53%. The business’s quarterly revenue was up 53.8% on a year-over-year basis. During the same period last year, the company posted $1.79 EPS. Sell-side analysts anticipate that Northern Trust Co. will post 7.01 EPS for the current year.

Northern Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were paid a dividend of $0.75 per share. The ex-dividend date was Friday, September 6th. This represents a $3.00 annualized dividend and a yield of 3.29%. Northern Trust’s dividend payout ratio is currently 66.23%.

Wall Street Analyst Weigh In

NTRS has been the topic of several research reports. Keefe, Bruyette & Woods lowered their price target on shares of Northern Trust from $92.00 to $85.00 and set a “market perform” rating on the stock in a research report on Thursday, June 27th. Deutsche Bank Aktiengesellschaft increased their target price on Northern Trust from $84.00 to $94.00 and gave the company a “hold” rating in a report on Monday, September 23rd. Morgan Stanley raised their price target on Northern Trust from $93.00 to $97.00 and gave the stock an “underweight” rating in a research report on Monday, September 30th. UBS Group increased their price objective on Northern Trust from $86.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, The Goldman Sachs Group cut Northern Trust from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $84.00 to $82.00 in a research report on Thursday, September 26th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $90.42.

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.