Northern Trust Corporation $NTRS Shares Sold by Harbour Trust & Investment Management Co

Harbour Trust & Investment Management Co lowered its position in shares of Northern Trust Corporation (NASDAQ:NTRS) by 4.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,964 shares of the asset manager’s stock after selling 125 shares during the period. Harbour Trust & Investment Management Co’s holdings in Northern Trust were worth $376,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Continuum Advisory LLC grew its stake in shares of Northern Trust by 5,340.0% during the first quarter. Continuum Advisory LLC now owns 272 shares of the asset manager’s stock worth $27,000 after purchasing an additional 267 shares in the last quarter. Zions Bancorporation National Association UT purchased a new stake in Northern Trust in the first quarter valued at $29,000. Wayfinding Financial LLC purchased a new stake in Northern Trust in the first quarter valued at $35,000. GFG Capital LLC purchased a new stake in Northern Trust in the second quarter valued at $35,000. Finally, Harbor Investment Advisory LLC lifted its position in Northern Trust by 68.4% in the second quarter. Harbor Investment Advisory LLC now owns 320 shares of the asset manager’s stock valued at $41,000 after acquiring an additional 130 shares during the last quarter. Institutional investors and hedge funds own 83.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on NTRS shares. Zacks Research cut shares of Northern Trust from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 9th. Wall Street Zen raised shares of Northern Trust from a “sell” rating to a “hold” rating in a research report on Friday, September 26th. Weiss Ratings reissued a “buy (b-)” rating on shares of Northern Trust in a research report on Wednesday, October 8th. Wolfe Research raised shares of Northern Trust from an “underperform” rating to a “peer perform” rating in a research report on Thursday, July 24th. Finally, Royal Bank Of Canada set a $123.00 target price on shares of Northern Trust and gave the company an “outperform” rating in a report on Monday, June 30th. Four equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $128.23.

Insider Transactions at Northern Trust

In other news, Director Robert Edward Jr. Moritz purchased 256 shares of the business’s stock in a transaction that occurred on Wednesday, August 13th. The stock was purchased at an average cost of $126.34 per share, with a total value of $32,343.04. Following the completion of the acquisition, the director directly owned 2,525 shares of the company’s stock, valued at approximately $319,008.50. This trade represents a 11.28% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.77% of the stock is owned by corporate insiders.

Northern Trust Price Performance

Shares of NTRS opened at $127.03 on Tuesday. Northern Trust Corporation has a fifty-two week low of $81.62 and a fifty-two week high of $135.48. The company has a market capitalization of $24.29 billion, a price-to-earnings ratio of 14.93, a price-to-earnings-growth ratio of 1.40 and a beta of 1.31. The firm has a 50-day simple moving average of $129.45 and a 200-day simple moving average of $116.04. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.72 and a current ratio of 0.72.

Northern Trust (NASDAQ:NTRS) last announced its earnings results on Wednesday, July 23rd. The asset manager reported $2.13 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.05. The business had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.96 billion. Northern Trust had a net margin of 11.75% and a return on equity of 14.06%. The business’s quarterly revenue was down 26.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.34 earnings per share. On average, equities research analysts anticipate that Northern Trust Corporation will post 8.27 earnings per share for the current year.

Northern Trust Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Friday, September 5th were issued a dividend of $0.80 per share. This is an increase from Northern Trust’s previous quarterly dividend of $0.75. This represents a $3.20 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend was Friday, September 5th. Northern Trust’s dividend payout ratio is currently 37.60%.

About Northern Trust

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.