VIRGINIA RETIREMENT SYSTEMS ET Al Sells 69,300 Shares of Northern Trust Corporation $NTRS

VIRGINIA RETIREMENT SYSTEMS ET Al lessened its position in shares of Northern Trust Corporation (NASDAQ:NTRS) by 27.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 187,200 shares of the asset manager’s stock after selling 69,300 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Northern Trust were worth $31,704,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Continuum Advisory LLC acquired a new position in shares of Northern Trust in the second quarter worth about $26,000. Basecamp Wealth Advisors LLC grew its position in shares of Northern Trust by 99.0% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 203 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 101 shares during the period. NBH Bank purchased a new position in shares of Northern Trust in the 2nd quarter valued at about $30,000. Keating Financial Advisory Services Inc. purchased a new position in shares of Northern Trust in the 2nd quarter valued at about $31,000. Finally, Clearstead Trust LLC purchased a new position in shares of Northern Trust in the 2nd quarter valued at about $37,000. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Northern Trust Stock Down 2.2%

Shares of NASDAQ NTRS opened at $169.16 on Friday. The firm has a market cap of $30.95 billion, a price-to-earnings ratio of 13.26, a price-to-earnings-growth ratio of 0.89 and a beta of 1.24. The company’s 50-day simple moving average is $175.52 and its 200-day simple moving average is $165.29. The company has a quick ratio of 0.65, a current ratio of 0.61 and a debt-to-equity ratio of 0.43. Northern Trust Corporation has a 52-week low of $121.53 and a 52-week high of $195.78.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings results on Wednesday, October 21st. The asset manager reported $3.40 earnings per share for the quarter, topping the consensus estimate of $2.87 by $0.53. The firm had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.26 billion. Northern Trust had a net margin of 15.86% and a return on equity of 17.97%. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.29 EPS. Equities analysts predict that Northern Trust Corporation will post 11.95 EPS for the current fiscal year.

Northern Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 1st. Shareholders of record on Friday, December 4th will be paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 2.1%. The ex-dividend date is Friday, December 4th. Northern Trust’s payout ratio is 27.59%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Citigroup reduced their price target on Northern Trust from $186.00 to $170.00 and set a “neutral” rating for the company in a report on Friday, October 23rd. JPMorgan Chase & Co. raised their price objective on Northern Trust from $185.00 to $191.50 and gave the company a “neutral” rating in a report on Friday. The Goldman Sachs Group boosted their price objective on Northern Trust from $190.00 to $192.00 and gave the company a “neutral” rating in a research report on Friday, October 2nd. Weiss Ratings downgraded Northern Trust from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, October 23rd. Finally, Wells Fargo & Company increased their target price on Northern Trust from $189.00 to $194.00 and gave the company an “equal weight” rating in a research report on Thursday, July 23rd. Two equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Northern Trust has a consensus rating of “Hold” and a consensus price target of $181.03.

Insider Buying and Selling

In other news, EVP Thomas South sold 1,800 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $184.90, for a total value of $332,820.00. Following the transaction, the executive vice president owned 92,917 shares in the company, valued at $17,180,353.30. This trade represents a 1.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Susan Levy sold 16,984 shares of Northern Trust stock in a transaction that occurred on Friday, October 23rd. The stock was sold at an average price of $168.15, for a total value of $2,855,859.60. Following the completion of the sale, the executive vice president directly owned 59,378 shares in the company, valued at $9,984,410.70. This represents a 22.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 22,706 shares of company stock valued at $3,850,282 in the last three months. Insiders own 0.66% of the company’s stock.

Northern Trust Company Profile

Northern Trust Corporation (NASDAQ:NTRS) is a financial services company that provides wealth management, asset servicing, asset management and banking services. The company serves institutional investors, corporations, financial institutions, high-net-worth individuals and families.

Its offerings include custody and administration of investment assets, fund accounting, securities lending, foreign exchange, treasury services, investment management, trust and estate services, private banking and wealth planning.