Northern Trust Co. (NASDAQ:NTRS) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama trimmed its holdings in shares of Northern Trust Co. (NASDAQ:NTRS) by 0.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 45,130 shares of the asset manager’s stock after selling 143 shares during the period. Retirement Systems of Alabama’s holdings in Northern Trust were worth $3,790,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Olistico Wealth LLC acquired a new stake in shares of Northern Trust in the 2nd quarter worth about $25,000. Spartan Planning & Wealth Management increased its holdings in shares of Northern Trust by 10,566.7% in the 4th quarter. Spartan Planning & Wealth Management now owns 320 shares of the asset manager’s stock worth $27,000 after acquiring an additional 317 shares during the period. Versant Capital Management Inc increased its holdings in shares of Northern Trust by 343.9% in the 2nd quarter. Versant Capital Management Inc now owns 435 shares of the asset manager’s stock worth $37,000 after acquiring an additional 337 shares during the period. Tributary Capital Management LLC acquired a new stake in shares of Northern Trust in the 1st quarter worth about $53,000. Finally, Quarry LP acquired a new stake in shares of Northern Trust in the 4th quarter worth about $56,000. 83.19% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

NTRS has been the topic of a number of analyst reports. The Goldman Sachs Group dropped their price objective on shares of Northern Trust from $94.00 to $84.00 and set a “neutral” rating on the stock in a report on Tuesday, July 2nd. Royal Bank of Canada increased their price objective on shares of Northern Trust from $86.00 to $90.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. Keefe, Bruyette & Woods lowered their target price on shares of Northern Trust from $92.00 to $85.00 and set a “market perform” rating on the stock in a research note on Thursday, June 27th. Morgan Stanley lowered their target price on shares of Northern Trust from $97.00 to $93.00 and set an “underweight” rating on the stock in a research note on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of Northern Trust from $85.00 to $84.00 and set a “hold” rating on the stock in a research note on Thursday, August 15th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $88.75.

Northern Trust Stock Performance

NASDAQ:NTRS opened at $88.90 on Wednesday. Northern Trust Co. has a twelve month low of $62.44 and a twelve month high of $92.46. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The company has a 50-day moving average of $85.47 and a 200-day moving average of $84.17. The firm has a market cap of $18.19 billion, a price-to-earnings ratio of 19.62, a price-to-earnings-growth ratio of 1.29 and a beta of 1.10.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings data on Wednesday, July 17th. The asset manager reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.03. Northern Trust had a net margin of 10.53% and a return on equity of 12.24%. The company had revenue of $2.72 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same quarter last year, the firm posted $1.79 EPS. The business’s revenue for the quarter was up 53.8% on a year-over-year basis. Analysts forecast that Northern Trust Co. will post 7.02 earnings per share for the current fiscal year.

Northern Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 3.37%. The ex-dividend date is Friday, September 6th. Northern Trust’s payout ratio is 66.23%.

Insiders Place Their Bets

In other Northern Trust news, EVP Teresa Parker sold 5,883 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $84.06, for a total value of $494,524.98. Following the completion of the transaction, the executive vice president now directly owns 83,765 shares in the company, valued at $7,041,285.90. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Northern Trust news, EVP Teresa Parker sold 5,883 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $84.06, for a total value of $494,524.98. Following the completion of the transaction, the executive vice president now directly owns 83,765 shares in the company, valued at $7,041,285.90. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Mark C. Gossett sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $88.90, for a total transaction of $533,400.00. Following the sale, the executive vice president now owns 28,707 shares of the company’s stock, valued at $2,552,052.30. The disclosure for this sale can be found here. Corporate insiders own 0.64% of the company’s stock.

Northern Trust Company 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.