Claro Advisors LLC Cuts Position in Northern Trust Co. (NASDAQ:NTRS)

Claro Advisors LLC reduced its stake in shares of Northern Trust Co. (NASDAQ:NTRS) by 3.2% in the second quarter, HoldingsChannel reports. The firm owned 9,141 shares of the asset manager’s stock after selling 298 shares during the period. Claro Advisors LLC’s holdings in Northern Trust were worth $768,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Olistico Wealth LLC purchased a new position in shares of Northern Trust in the 2nd quarter worth approximately $25,000. Innealta Capital LLC purchased a new stake in shares of Northern Trust during the 2nd quarter valued at $26,000. Spartan Planning & Wealth Management boosted its position 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 purchasing an additional 317 shares in the last quarter. Ridgewood Investments LLC purchased a new position in Northern Trust during the 2nd quarter worth $30,000. Finally, Versant Capital Management Inc increased its position in Northern Trust by 343.9% during the 2nd quarter. Versant Capital Management Inc now owns 435 shares of the asset manager’s stock valued at $37,000 after buying an additional 337 shares in the last quarter. Institutional investors own 83.19% of the company’s stock.

Insider Transactions at Northern Trust

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

Analyst Ratings Changes

A number of research firms recently commented on NTRS. Morgan Stanley lowered their target price on shares of Northern Trust from $97.00 to $93.00 and set an “underweight” rating for the company in a research note on Tuesday, July 30th. Keefe, Bruyette & Woods cut their price target on shares of Northern Trust from $92.00 to $85.00 and set a “market perform” rating on the stock in a report on Thursday, June 27th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Northern Trust from $85.00 to $84.00 and set a “hold” rating for the company in a research note on Thursday, August 15th. 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. Finally, Royal Bank of Canada raised their target price 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. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Northern Trust presently has a consensus rating of “Hold” and an average target price of $88.75.

Northern Trust Trading Up 1.9 %

NTRS stock opened at $91.21 on Monday. Northern Trust Co. has a 12-month low of $62.44 and a 12-month high of $92.46. The business’s 50-day moving average is $86.02 and its 200 day moving average is $84.45. 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 stock has a market cap of $18.39 billion, a price-to-earnings ratio of 20.13, a PEG ratio of 1.53 and a beta of 1.10.

Northern Trust (NASDAQ:NTRS) last released its earnings results 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 return on equity of 12.24% and a net margin of 10.53%. The business had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter last year, the business posted $1.79 earnings per share. The business’s quarterly revenue was up 53.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Northern Trust Co. will post 7.01 EPS for the current fiscal year.

Northern Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date of this dividend is Friday, September 6th. Northern Trust’s payout ratio is 66.23%.

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.