Northern Trust Corporation $NTRS Holdings Lowered by Ritholtz Wealth Management

Ritholtz Wealth Management reduced its stake in Northern Trust Corporation (NASDAQ:NTRS) by 9.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 30,307 shares of the asset manager’s stock after selling 3,150 shares during the period. Ritholtz Wealth Management’s holdings in Northern Trust were worth $4,230,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Empowered Funds LLC boosted its stake in Northern Trust by 13.3% during the 1st quarter. Empowered Funds LLC now owns 20,112 shares of the asset manager’s stock valued at $1,984,000 after purchasing an additional 2,363 shares in the last quarter. Woodline Partners LP raised its stake in shares of Northern Trust by 39.1% in the 1st quarter. Woodline Partners LP now owns 16,557 shares of the asset manager’s stock worth $1,633,000 after buying an additional 4,653 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Northern Trust by 79.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,350 shares of the asset manager’s stock valued at $171,000 after buying an additional 596 shares during the period. WINTON GROUP Ltd acquired a new stake in shares of Northern Trust in the second quarter valued at $267,000. Finally, Daiwa Securities Group Inc. boosted its stake in Northern Trust by 4.6% during the second quarter. Daiwa Securities Group Inc. now owns 29,290 shares of the asset manager’s stock valued at $3,714,000 after buying an additional 1,275 shares in the last quarter. 83.19% of the stock is currently owned by institutional investors.

Insider Activity at Northern Trust

In other news, insider Clive Bellows sold 2,800 shares of the company’s stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $165.02, for a total value of $462,056.00. Following the transaction, the insider owned 28,217 shares in the company, valued at $4,656,369.34. This represents a 9.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO David W. Fox, Jr. sold 19,987 shares of the stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $166.16, for a total transaction of $3,321,039.92. Following the completion of the sale, the chief financial officer directly owned 18,588 shares of the company’s stock, valued at $3,088,582.08. This trade represents a 51.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 22,800 shares of company stock valued at $3,785,251. Company insiders own 0.66% of the company’s stock.

Northern Trust Stock Up 1.2%

NTRS stock opened at $175.97 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.62 and a quick ratio of 0.62. The firm has a market capitalization of $32.56 billion, a P/E ratio of 18.43, a P/E/G ratio of 1.25 and a beta of 1.25. Northern Trust Corporation has a 52-week low of $118.99 and a 52-week high of $178.70. The company’s 50 day simple moving average is $167.31 and its 200-day simple moving average is $151.72.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings data on Tuesday, April 21st. The asset manager reported $2.71 EPS for the quarter, topping analysts’ consensus estimates of $2.37 by $0.34. Northern Trust had a net margin of 12.84% and a return on equity of 15.94%. The firm had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same quarter last year, the business posted $1.90 EPS. The company’s revenue was up 13.8% on a year-over-year basis. As a group, equities research analysts anticipate that Northern Trust Corporation will post 10.68 EPS for the current year.

Northern Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 5th will be issued a dividend of $0.80 per share. The ex-dividend date is Friday, June 5th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.8%. Northern Trust’s payout ratio is currently 33.51%.

Analysts Set New Price Targets

Several brokerages have commented on NTRS. BMO Capital Markets upgraded shares of Northern Trust from a “market perform” rating to an “outperform” rating and set a $168.00 price target on the stock in a research report on Monday, April 6th. Royal Bank Of Canada lifted their price objective on shares of Northern Trust from $159.00 to $178.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 22nd. The Goldman Sachs Group boosted their target price on shares of Northern Trust from $151.00 to $169.00 and gave the stock a “neutral” rating in a report on Wednesday, April 22nd. Truist Financial increased their target price on shares of Northern Trust from $155.00 to $176.00 and gave the company a “hold” rating in a research note on Wednesday, April 22nd. Finally, Wells Fargo & Company lifted their price target on shares of Northern Trust from $175.00 to $189.00 and gave the stock an “equal weight” rating in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Northern Trust has an average rating of “Hold” and an average target price of $165.25.

About Northern Trust

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.