Van Hulzen Asset Management LLC Lowers Stake in Northern Trust Corporation $NTRS

Van Hulzen Asset Management LLC cut its position in shares of Northern Trust Corporation (NASDAQ:NTRS) by 52.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,664 shares of the asset manager’s stock after selling 18,200 shares during the quarter. Van Hulzen Asset Management LLC’s holdings in Northern Trust were worth $2,897,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of NTRS. Goldman Sachs Group Inc. increased its holdings in Northern Trust by 5.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,894,755 shares of the asset manager’s stock valued at $395,395,000 after purchasing an additional 161,826 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Northern Trust by 1,838.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 180,034 shares of the asset manager’s stock worth $22,793,000 after purchasing an additional 170,745 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Northern Trust in the first quarter worth about $2,303,000. VIRGINIA RETIREMENT SYSTEMS ET Al boosted its position in shares of Northern Trust by 17.7% in the fourth quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 256,700 shares of the asset manager’s stock worth $35,063,000 after buying an additional 38,600 shares during the period. Finally, Bank of America Corp DE grew its stake in shares of Northern Trust by 5.6% in the first quarter. Bank of America Corp DE now owns 622,852 shares of the asset manager’s stock valued at $86,931,000 after buying an additional 33,029 shares in the last quarter. 83.19% of the stock is owned by institutional investors and hedge funds.

Northern Trust Price Performance

Shares of NTRS stock opened at $184.69 on Thursday. The firm has a fifty day moving average of $184.51 and a two-hundred day moving average of $166.80. The firm has a market cap of $33.79 billion, a P/E ratio of 15.85, a P/E/G ratio of 1.04 and a beta of 1.24. Northern Trust Corporation has a 1-year low of $121.12 and a 1-year high of $195.78. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.65 and a quick ratio of 0.65.

Northern Trust (NASDAQ:NTRS) last issued its earnings results on Wednesday, July 22nd. The asset manager reported $4.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.71 by $1.52. The business had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.69 billion. Northern Trust had a net margin of 14.76% and a return on equity of 16.91%. The company’s revenue for the quarter was up 35.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.13 EPS. As a group, research analysts anticipate that Northern Trust Corporation will post 11.59 earnings per share for the current fiscal year.

Northern Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 4th will be paid a dividend of $0.88 per share. The ex-dividend date is Friday, September 4th. This is an increase from Northern Trust’s previous quarterly dividend of $0.80. This represents a $3.52 annualized dividend and a yield of 1.9%. Northern Trust’s payout ratio is currently 30.21%.

Insider Buying and Selling at Northern Trust

In related news, Director Robert Moritz, Jr. purchased 255 shares of the company’s stock in a transaction dated Wednesday, July 29th. The shares were acquired at an average cost of $179.57 per share, for a total transaction of $45,790.35. Following the transaction, the director owned 8,400 shares of the company’s stock, valued at $1,508,388. This trade represents a 3.13% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Thomas South sold 1,800 shares of the firm’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $184.90, for a total value of $332,820.00. Following the completion of the sale, the executive vice president owned 92,917 shares in the company, valued at $17,180,353.30. The trade was a 1.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. JPMorgan Chase & Co. increased their price objective on shares of Northern Trust from $179.50 to $185.50 and gave the company a “neutral” rating in a research report on Tuesday, August 4th. UBS Group set a $186.00 price target on shares of Northern Trust in a research note on Friday, June 26th. Truist Financial upped their price objective on shares of Northern Trust from $176.00 to $186.00 and gave the company a “hold” rating in a research report on Friday, June 26th. Bank of America raised their target price on Northern Trust from $190.00 to $200.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Finally, Morgan Stanley lifted their target price on Northern Trust from $170.00 to $173.00 and gave the stock an “underweight” rating in a research report on Thursday, July 23rd. Four investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $180.68.

Northern Trust Company Profile

Northern Trust Corporation is a financial services company headquartered in Chicago, Illinois, and the holding company for Northern Trust Company and related businesses. Founded in 1889, the company provides banking, investment management and fiduciary services to corporations, institutions, high-net-worth individuals, families and privately held businesses.

Northern Trust’s institutional offerings include asset custody and servicing, fund administration, securities lending, foreign exchange, treasury services, capital markets support and related solutions.