Victory Capital Management Inc. Lowers Holdings in Northern Trust Co. (NASDAQ:NTRS)

Victory Capital Management Inc. trimmed its holdings in Northern Trust Co. (NASDAQ:NTRS) by 2.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 241,367 shares of the asset manager’s stock after selling 5,960 shares during the period. Victory Capital Management Inc. owned about 0.12% of Northern Trust worth $20,270,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Olistico Wealth LLC purchased a new position in shares of Northern Trust in the second quarter valued at about $25,000. Innealta Capital LLC purchased a new position in shares of Northern Trust in the second quarter valued at about $26,000. Spartan Planning & Wealth Management lifted its position in shares of Northern Trust by 10,566.7% in the fourth quarter. Spartan Planning & Wealth Management now owns 320 shares of the asset manager’s stock valued at $27,000 after acquiring an additional 317 shares in the last quarter. Ridgewood Investments LLC purchased a new position in shares of Northern Trust in the second quarter valued at about $30,000. Finally, Versant Capital Management Inc lifted its position in shares of Northern Trust by 343.9% in the second quarter. Versant Capital Management Inc now owns 435 shares of the asset manager’s stock valued at $37,000 after acquiring an additional 337 shares in the last quarter. 83.19% of the stock is currently owned by hedge funds and other institutional investors.

Northern Trust Trading Up 0.3 %

NTRS opened at $87.45 on Friday. The stock has a market cap of $17.89 billion, a price-to-earnings ratio of 19.30, a P/E/G ratio of 1.45 and a beta of 1.08. The stock’s 50 day moving average price is $86.95 and its 200-day moving average price is $84.92. Northern Trust Co. has a one year low of $62.44 and a one year high of $92.46. 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 announced its quarterly earnings data on Wednesday, July 17th. The asset manager reported $1.78 earnings per share (EPS) for the quarter, topping 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 company had revenue of $2.72 billion for the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter in the prior year, the firm earned $1.79 earnings per share. Northern Trust’s revenue was up 53.8% compared to the same quarter last year. On average, equities analysts forecast that Northern Trust Co. will post 7.01 EPS for the current year.

Northern Trust Dividend Announcement

The business 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 dividend of $0.75 per share. The ex-dividend date is Friday, September 6th. This represents a $3.00 dividend on an annualized basis and a yield of 3.43%. Northern Trust’s dividend payout ratio is currently 66.23%.

Insiders Place Their Bets

In other Northern Trust news, EVP Mark C. Gossett sold 6,000 shares of the company’s stock in a transaction 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 owns 28,707 shares in the company, valued at $2,552,052.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, EVP Teresa Parker sold 5,883 shares of the stock in a transaction on Friday, August 9th. The stock was 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 in the company, valued at approximately $7,041,285.90. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Mark C. Gossett sold 6,000 shares of the 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 sale, the executive vice president now owns 28,707 shares of the company’s stock, valued at approximately $2,552,052.30. The disclosure for this sale can be found here. 0.64% of the stock is owned by company insiders.

Analyst Ratings Changes

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

About Northern Trust

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.