Korea Investment CORP Reduces Stock Holdings in Northern Trust Corporation $NTRS

Korea Investment CORP reduced its stake in shares of Northern Trust Corporation (NASDAQ:NTRS) by 22.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 148,334 shares of the asset manager’s stock after selling 43,461 shares during the quarter. Korea Investment CORP owned about 0.08% of Northern Trust worth $18,807,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of NTRS. Cetera Investment Advisers increased its stake in Northern Trust by 32.0% in the 1st quarter. Cetera Investment Advisers now owns 7,245 shares of the asset manager’s stock valued at $715,000 after buying an additional 1,758 shares during the period. Assetmark Inc. boosted its holdings in shares of Northern Trust by 54.9% in the first quarter. Assetmark Inc. now owns 584 shares of the asset manager’s stock valued at $58,000 after acquiring an additional 207 shares in the last quarter. HB Wealth Management LLC increased its stake in shares of Northern Trust by 23.6% during the first quarter. HB Wealth Management LLC now owns 3,687 shares of the asset manager’s stock worth $364,000 after acquiring an additional 703 shares during the period. LPL Financial LLC raised its holdings in Northern Trust by 48.4% during the first quarter. LPL Financial LLC now owns 67,068 shares of the asset manager’s stock worth $6,616,000 after purchasing an additional 21,884 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its position in Northern Trust by 2.6% in the first quarter. Mackenzie Financial Corp now owns 31,774 shares of the asset manager’s stock valued at $3,135,000 after purchasing an additional 792 shares during the period. 83.19% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Northern Trust

In related news, insider John Landers sold 766 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $124.35, for a total transaction of $95,252.10. Following the completion of the transaction, the insider owned 7,313 shares of the company’s stock, valued at approximately $909,371.55. This represents a 9.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robert Edward Jr. Moritz purchased 3,891 shares of the business’s stock in a transaction on Tuesday, November 4th. The shares were bought at an average cost of $128.57 per share, for a total transaction of $500,265.87. Following the purchase, the director owned 6,686 shares of the company’s stock, valued at $859,619.02. This trade represents a 139.21% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.77% of the stock is owned by insiders.

Wall Street Analyst Weigh In

NTRS has been the subject of several recent analyst reports. Wells Fargo & Company raised their price target on Northern Trust from $127.00 to $131.00 and gave the company an “equal weight” rating in a report on Thursday, October 23rd. Keefe, Bruyette & Woods increased their price objective on Northern Trust from $123.00 to $125.00 and gave the stock an “underperform” rating in a research report on Thursday, October 23rd. BMO Capital Markets started coverage on Northern Trust in a report on Friday, October 3rd. They issued a “market perform” rating and a $142.00 target price for the company. The Goldman Sachs Group set a $135.00 price target on shares of Northern Trust in a research note on Tuesday, September 30th. Finally, Zacks Research downgraded shares of Northern Trust from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 9th. Five analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $132.46.

Northern Trust Trading Down 0.0%

Shares of Northern Trust stock opened at $131.34 on Friday. Northern Trust Corporation has a fifty-two week low of $81.62 and a fifty-two week high of $135.48. The business’s fifty day moving average is $128.94 and its two-hundred day moving average is $124.33. The company has a quick ratio of 0.72, a current ratio of 0.70 and a debt-to-equity ratio of 0.58. The firm has a market cap of $24.84 billion, a PE ratio of 15.31, a P/E/G ratio of 1.37 and a beta of 1.32.

Northern Trust (NASDAQ:NTRS) last released its earnings results on Wednesday, October 22nd. The asset manager reported $2.29 EPS for the quarter, beating the consensus estimate of $2.26 by $0.03. Northern Trust had a return on equity of 14.37% and a net margin of 11.99%.The firm had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.02 billion. During the same period in the prior year, the firm posted $2.22 earnings per share. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. Analysts anticipate that Northern Trust Corporation will post 8.27 earnings per share for the current year.

Northern Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 1st. Investors of record on Friday, December 5th will be given a $0.80 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $3.20 annualized dividend and a dividend yield of 2.4%. Northern Trust’s dividend payout ratio (DPR) is currently 37.30%.

Northern Trust 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.