Northern Trust Corporation $NTRS Holdings Lessened by Eurizon Capital SGR S.p.A.

Eurizon Capital SGR S.p.A. decreased its position in shares of Northern Trust Corporation (NASDAQ:NTRS) by 42.8% in the third quarter, HoldingsChannel reports. The firm owned 421,674 shares of the asset manager’s stock after selling 315,123 shares during the quarter. Eurizon Capital SGR S.p.A.’s holdings in Northern Trust were worth $71,870,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. acquired a new position in Northern Trust in the 2nd quarter worth approximately $2,523,781,000. Primecap Management Co. CA purchased a new position in Northern Trust during the 2nd quarter worth approximately $1,060,553,000. Dimensional Fund Advisors LP raised its position in Northern Trust by 1.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,455,996 shares of the asset manager’s stock worth $342,744,000 after buying an additional 36,322 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in Northern Trust during the 2nd quarter valued at approximately $361,079,000. Finally, Robeco Institutional Asset Management B.V. lifted its stake in Northern Trust by 2.0% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,500,961 shares of the asset manager’s stock valued at $254,203,000 after acquiring an additional 29,490 shares during the period. Institutional investors and hedge funds own 83.19% of the company’s stock.

Northern Trust Stock Down 0.6%

Shares of NTRS stock opened at $177.67 on Friday. The stock has a 50 day moving average of $173.66 and a 200 day moving average of $166.56. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.43. The stock has a market cap of $32.18 billion, a P/E ratio of 13.92, a P/E/G ratio of 0.91 and a beta of 1.21. Northern Trust Corporation has a twelve month low of $121.53 and a twelve month high of $195.78.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings results on Wednesday, October 21st. The asset manager reported $3.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.87 by $0.53. Northern Trust had a return on equity of 17.97% and a net margin of 15.86%. The company had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.26 billion. During the same period in the previous year, the company posted $2.29 earnings per share. Northern Trust’s revenue for the quarter was up 13.4% on a year-over-year basis. As a group, sell-side analysts expect that Northern Trust Corporation will post 12.06 EPS for the current year.

Northern Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 1st. Stockholders of record on Friday, December 4th will be issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, December 4th. Northern Trust’s payout ratio is 27.59%.

Insider Activity at Northern Trust

In related news, EVP Thomas A. South sold 1,800 shares of the business’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 transaction, the executive vice president directly owned 92,917 shares in the company, valued at $17,180,353.30. The trade was a 1.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robert Moritz, Jr. purchased 236 shares of the stock in a transaction that occurred on Friday, October 30th. The shares were purchased at an average cost of $169.07 per share, for a total transaction of $39,900.52. Following the completion of the acquisition, the director directly owned 8,636 shares of the company’s stock, valued at $1,460,088.52. This represents a 2.81% increase in their position. The SEC filing for this purchase provides additional information. Insiders sold a total of 22,706 shares of company stock worth $3,850,282 in the last three months. Company insiders own 0.66% of the company’s stock.

Wall Street Analyst Weigh In

NTRS has been the topic of several recent research reports. Royal Bank Of Canada downgraded shares of Northern Trust from an “outperform” rating to a “sector perform” rating and upped their price objective for the company from $159.00 to $178.00 in a report on Wednesday, July 22nd. TD Cowen started coverage on shares of Northern Trust in a report on Thursday, October 8th. They set a “hold” rating and a $175.00 target price for the company. The Goldman Sachs Group boosted their target price on shares of Northern Trust from $190.00 to $192.00 and gave the company a “neutral” rating in a research report on Friday, October 2nd. Keefe, Bruyette & Woods lowered their price target on shares of Northern Trust from $175.00 to $170.00 in a report on Thursday, October 8th. Finally, Capital One Financial set a $190.00 price target on shares of Northern Trust in a report on Tuesday, October 6th. Two investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $181.03.

Northern Trust Company Profile

Northern Trust Corporation is a financial services company headquartered in Chicago. Founded in 1889, it provides services to institutions, corporations, governments, and individuals and families. The company’s businesses include asset servicing, asset management, wealth management, and banking. Its services include investment management, custody and administration, fiduciary services, banking, and financial planning. Northern Trust serves clients in the United States and internationally, with operations across multiple regions.