Rathbones Group PLC Decreases Stock Position in Northern Trust Co. (NASDAQ:NTRS)

Rathbones Group PLC trimmed its holdings in shares of Northern Trust Co. (NASDAQ:NTRS) by 30.1% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 63,093 shares of the asset manager’s stock after selling 27,124 shares during the quarter. Rathbones Group PLC’s holdings in Northern Trust were worth $5,299,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of NTRS. DekaBank Deutsche Girozentrale raised its holdings in shares of Northern Trust by 0.3% during the second quarter. DekaBank Deutsche Girozentrale now owns 43,713 shares of the asset manager’s stock valued at $3,608,000 after purchasing an additional 120 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in Northern Trust by 1.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 10,584 shares of the asset manager’s stock valued at $889,000 after buying an additional 131 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Northern Trust by 23.1% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 805 shares of the asset manager’s stock valued at $68,000 after buying an additional 151 shares during the period. Harvest Investment Advisors LLC boosted its stake in shares of Northern Trust by 1.0% in the 4th quarter. Harvest Investment Advisors LLC now owns 16,291 shares of the asset manager’s stock worth $1,375,000 after buying an additional 160 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in Northern Trust by 2.4% during the first quarter. Assenagon Asset Management S.A. now owns 7,464 shares of the asset manager’s stock valued at $664,000 after acquiring an additional 172 shares during the last quarter. Institutional investors own 83.19% of the company’s stock.

Northern Trust Price Performance

NASDAQ:NTRS opened at $88.24 on Monday. The business’s 50-day simple moving average is $87.05 and its two-hundred day simple moving average is $85.02. Northern Trust Co. has a 52 week low of $62.44 and a 52 week high of $92.46. The stock has a market cap of $18.05 billion, a PE ratio of 19.48, a P/E/G ratio of 1.46 and a beta of 1.08. 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 issued its earnings results on Wednesday, July 17th. The asset manager reported $1.78 earnings per share (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 company had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter last year, the company earned $1.79 EPS. The firm’s quarterly revenue was up 53.8% on a year-over-year basis. As a group, analysts forecast that Northern Trust Co. will post 7.01 EPS for the current fiscal year.

Northern Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 3.40%. The ex-dividend date is Friday, September 6th. Northern Trust’s dividend payout ratio (DPR) is presently 66.23%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NTRS. Deutsche Bank Aktiengesellschaft dropped their target price on Northern Trust from $85.00 to $84.00 and set a “hold” rating on the stock in a research report on Thursday, August 15th. Morgan Stanley cut their target price on shares of Northern Trust from $97.00 to $93.00 and set an “underweight” rating for the company in a research report on Tuesday, July 30th. The Goldman Sachs Group decreased their price target 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. Keefe, Bruyette & Woods cut their price objective on shares of Northern Trust from $92.00 to $85.00 and set a “market perform” rating for the company in a research report on Thursday, June 27th. Finally, Royal Bank of Canada raised 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. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $88.75.

Insider Buying and Selling

In other Northern Trust news, EVP Teresa Parker sold 5,883 shares of the business’s stock in a transaction 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 in the company, valued at approximately $7,041,285.90. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, EVP Mark C. Gossett sold 6,000 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were 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 directly owns 28,707 shares of the company’s stock, valued at $2,552,052.30. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Teresa Parker sold 5,883 shares of the company’s stock in a transaction 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 directly owns 83,765 shares in the company, valued at approximately $7,041,285.90. The disclosure for this sale can be found here. 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.