Principal Financial Group Inc. Has $19.81 Million Stock Position in Northern Trust Co. (NASDAQ:NTRS)

Principal Financial Group Inc. lessened its holdings in shares of Northern Trust Co. (NASDAQ:NTRS) by 2.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 235,937 shares of the asset manager’s stock after selling 5,430 shares during the period. Principal Financial Group Inc.’s holdings in Northern Trust were worth $19,814,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the business. Primecap Management Co. CA lifted its holdings in Northern Trust by 6.1% during the 4th quarter. Primecap Management Co. CA now owns 6,891,902 shares of the asset manager’s stock worth $581,539,000 after buying an additional 394,855 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in Northern Trust by 31.2% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 6,533,855 shares of the asset manager’s stock valued at $551,327,000 after acquiring an additional 1,553,783 shares during the last quarter. Wellington Management Group LLP increased its position in Northern Trust by 140.2% during the 4th quarter. Wellington Management Group LLP now owns 5,802,792 shares of the asset manager’s stock valued at $489,640,000 after purchasing an additional 3,387,002 shares during the period. Dimensional Fund Advisors LP increased its position in Northern Trust by 0.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,771,463 shares of the asset manager’s stock valued at $149,485,000 after purchasing an additional 8,724 shares during the period. Finally, Confluence Investment Management LLC bought a new position in Northern Trust during the 1st quarter worth approximately $105,665,000. Institutional investors own 83.19% of the company’s stock.

Insider Buying and Selling

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

Analyst Ratings Changes

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

Northern Trust Trading Down 1.3 %

Shares of Northern Trust stock opened at $90.02 on Wednesday. The stock has a market capitalization of $18.15 billion, a PE ratio of 19.87, a price-to-earnings-growth ratio of 1.53 and a beta of 1.10. Northern Trust Co. has a 52 week low of $62.44 and a 52 week high of $92.46. The stock has a 50 day moving average price of $86.33 and a two-hundred day moving average price of $84.60. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71.

Northern Trust (NASDAQ:NTRS) last issued its earnings results on Wednesday, July 17th. The asset manager reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.75 by $0.03. The company had revenue of $2.72 billion for the quarter, compared to analysts’ expectations of $1.84 billion. Northern Trust had a return on equity of 12.24% and a net margin of 10.53%. Northern Trust’s quarterly revenue was up 53.8% compared to the same quarter last year. During the same period last year, the business earned $1.79 EPS. As a group, equities analysts anticipate that Northern Trust Co. will post 7.01 earnings per share for the current fiscal year.

Northern Trust Dividend Announcement

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 given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 3.33%. The ex-dividend date is Friday, September 6th. Northern Trust’s payout ratio is presently 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.