Groupe la Francaise Decreases Position in Northern Trust Corporation $NTRS

Groupe la Francaise lessened its position in Northern Trust Corporation (NASDAQ:NTRS) by 26.9% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 41,394 shares of the asset manager’s stock after selling 15,226 shares during the period. Groupe la Francaise’s holdings in Northern Trust were worth $7,196,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in NTRS. California State Teachers Retirement System raised its holdings in Northern Trust by 15,388.1% in the 2nd quarter. California State Teachers Retirement System now owns 51,137,991 shares of the asset manager’s stock worth $8,889,828,000 after acquiring an additional 50,807,816 shares during the last quarter. BlackRock Inc. purchased a new stake in Northern Trust during the 2nd quarter valued at $2,523,781,000. Primecap Management Co. CA purchased a new stake in Northern Trust during the 2nd quarter valued at $1,060,553,000. Bank of New York Mellon Corp bought a new stake in shares of Northern Trust in the 2nd quarter worth $361,079,000. Finally, Norges Bank bought a new stake in shares of Northern Trust in the 4th quarter worth $257,410,000. Institutional investors own 83.19% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on NTRS shares. Wells Fargo & Company upped their price target on Northern Trust from $189.00 to $194.00 and gave the company an “equal weight” rating in a report on Thursday, July 23rd. Morgan Stanley lifted their price objective on Northern Trust from $170.00 to $173.00 and gave the stock an “underweight” rating in a report on Thursday, July 23rd. Citigroup boosted their target price on Northern Trust from $162.00 to $172.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 30th. Truist Financial upped their target price on shares of Northern Trust from $176.00 to $186.00 and gave the company a “hold” rating in a research note on Friday, June 26th. Finally, UBS Group set a $186.00 price target on shares of Northern Trust in a research note on Friday, June 26th. Four equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Northern Trust presently has an average rating of “Hold” and an average target price of $180.68.

Northern Trust Stock Performance

NASDAQ:NTRS opened at $186.63 on Tuesday. Northern Trust Corporation has a one year low of $121.12 and a one year high of $195.78. The business has a fifty day moving average price of $184.11 and a 200-day moving average price of $166.26. The firm has a market capitalization of $34.15 billion, a price-to-earnings ratio of 16.02, a price-to-earnings-growth ratio of 1.05 and a beta of 1.24. 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 released its earnings results on Wednesday, July 22nd. The asset manager reported $4.23 earnings per share for the quarter, beating the consensus estimate of $2.71 by $1.52. Northern Trust had a return on equity of 16.91% and a net margin of 14.76%.The company had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.69 billion. During the same period in the previous year, the business earned $2.13 earnings per share. Northern Trust’s quarterly revenue was up 35.1% compared to the same quarter last year. Sell-side analysts forecast that Northern Trust Corporation will post 11.59 EPS for the current year.

Northern Trust Increases Dividend

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

Insider Buying and Selling

In other Northern Trust news, EVP Thomas South sold 1,800 shares of Northern Trust stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $184.90, for a total transaction of $332,820.00. Following the transaction, the executive vice president owned 92,917 shares of the company’s stock, valued at $17,180,353.30. The trade was a 1.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert Moritz, Jr. purchased 255 shares of the company’s stock in a transaction on Wednesday, July 29th. The stock was purchased at an average price of $179.57 per share, with a total value of $45,790.35. Following the completion of the transaction, the director owned 8,400 shares of the company’s stock, valued at approximately $1,508,388. This trade represents a 3.13% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.66% of the company’s stock.

Northern Trust Company Profile

Northern Trust Corporation (NASDAQ: NTRS) is a global financial services firm headquartered in Chicago that provides asset servicing, asset management and wealth management solutions to institutions, corporations and high-net-worth individuals. The company’s core businesses include custody and fund administration, investment operations outsourcing, trust and fiduciary services, private banking, and retirement and defined contribution plan services.

Northern Trust’s product and service offerings span custody and fund accounting, portfolio and performance analytics, securities lending, cash management and foreign exchange, as well as discretionary and non-discretionary investment management.