Tredje AP fonden Trims Stock Position in Northern Trust Co. (NASDAQ:NTRS)

Tredje AP fonden decreased its position in shares of Northern Trust Co. (NASDAQ:NTRS) by 1.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 32,551 shares of the asset manager’s stock after selling 508 shares during the quarter. Tredje AP fonden’s holdings in Northern Trust were worth $2,734,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Olistico Wealth LLC purchased a new position in shares of Northern Trust during the second quarter worth about $25,000. Innealta Capital LLC purchased a new position in shares of Northern Trust in the 2nd quarter valued at approximately $26,000. Spartan Planning & Wealth Management grew its stake 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 valued at $27,000 after purchasing an additional 317 shares during the last quarter. Ridgewood Investments LLC acquired a new position in shares of Northern Trust in the second quarter valued at approximately $30,000. Finally, Versant Capital Management Inc raised its stake in shares of 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 purchasing an additional 337 shares during the last quarter. Institutional investors and hedge funds own 83.19% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on NTRS shares. Keefe, Bruyette & Woods dropped their price objective on shares of 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. Royal Bank of Canada increased their price target on shares of Northern Trust from $86.00 to $90.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. The Goldman Sachs Group lowered their price objective on Northern Trust from $94.00 to $84.00 and set a “neutral” rating on the stock in a report on Tuesday, July 2nd. Deutsche Bank Aktiengesellschaft cut their target price on Northern Trust from $85.00 to $84.00 and set a “hold” rating for the company in a research note on Thursday, August 15th. Finally, 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. Two equities research 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’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $88.75.

Insider Activity at Northern Trust

In other Northern Trust news, EVP Mark C. Gossett sold 6,000 shares of the company’s 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 transaction, the executive vice president now directly owns 28,707 shares in the company, valued at approximately $2,552,052.30. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Charles A. Tribbett sold 1,855 shares of the company’s 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 directly owns 1,000 shares in the company, valued at $88,120. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction, the executive vice president now owns 28,707 shares in the company, valued at $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 valued at $1,191,388 over the last quarter. Insiders own 0.64% of the company’s stock.

Northern Trust Price Performance

Northern Trust stock opened at $92.62 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. The firm’s 50-day simple moving average is $87.53 and its 200 day simple moving average is $85.21. Northern Trust Co. has a 52 week low of $62.44 and a 52 week high of $92.66. The firm has a market capitalization of $18.95 billion, a PE ratio of 20.45, a P/E/G ratio of 1.46 and a beta of 1.08.

Northern Trust (NASDAQ:NTRS) last released its quarterly 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 net margin of 10.53% and a return on equity of 12.24%. The business had revenue of $2.72 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same period in the prior year, the business earned $1.79 earnings per share. The company’s quarterly revenue was up 53.8% on a year-over-year basis. On average, equities research analysts predict that Northern Trust Co. will post 7.01 EPS for the current fiscal year.

Northern Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th will be given a $0.75 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $3.00 annualized dividend and a dividend yield of 3.24%. Northern Trust’s dividend payout ratio is currently 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.