Northern Trust Co. (NASDAQ:NTRS) Shares Sold by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co lowered its position in shares of Northern Trust Co. (NASDAQ:NTRS) by 5.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,855 shares of the asset manager’s stock after selling 993 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Northern Trust were worth $1,499,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in NTRS. Bayesian Capital Management LP raised its stake in Northern Trust by 986.3% in the 4th quarter. Bayesian Capital Management LP now owns 37,900 shares of the asset manager’s stock valued at $3,198,000 after purchasing an additional 34,411 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in shares of Northern Trust by 6.8% in the first quarter. CANADA LIFE ASSURANCE Co now owns 360,640 shares of the asset manager’s stock worth $32,111,000 after buying an additional 23,020 shares in the last quarter. Sequoia Financial Advisors LLC boosted its position in Northern Trust by 557.8% during the first quarter. Sequoia Financial Advisors LLC now owns 30,813 shares of the asset manager’s stock worth $2,740,000 after acquiring an additional 26,129 shares during the last quarter. Bessemer Group Inc. grew its stake in Northern Trust by 668.0% during the 1st quarter. Bessemer Group Inc. now owns 20,205 shares of the asset manager’s stock valued at $1,797,000 after acquiring an additional 17,574 shares in the last quarter. Finally, AIA Group Ltd raised its holdings in Northern Trust by 4.3% in the 1st quarter. AIA Group Ltd now owns 602,785 shares of the asset manager’s stock valued at $53,600,000 after acquiring an additional 24,791 shares during the last quarter. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Insider Activity at Northern Trust

In other Northern Trust news, Director Charles A. Tribbett sold 1,855 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $88.12, for a total transaction of $163,462.60. Following the sale, the director now directly owns 1,000 shares in the company, valued at approximately $88,120. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, EVP Mark C. Gossett sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $88.90, for a total transaction of $533,400.00. Following the sale, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Charles A. Tribbett sold 1,855 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $88.12, for a total transaction of $163,462.60. Following the completion of the sale, the director now directly owns 1,000 shares in the company, valued at approximately $88,120. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,738 shares of company stock worth $1,191,388. Corporate insiders own 0.64% of the company’s stock.

Analyst Upgrades and Downgrades

NTRS has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft lowered their target price on Northern Trust from $85.00 to $84.00 and set a “hold” rating on the stock in a report on Thursday, August 15th. Keefe, Bruyette & Woods dropped their target price on Northern Trust from $92.00 to $85.00 and set a “market perform” rating for the company in a report on Thursday, June 27th. The Goldman Sachs Group cut their target price on Northern Trust from $94.00 to $84.00 and set a “neutral” rating for the company in a research note on Tuesday, July 2nd. Royal Bank of Canada upped their price objective on shares of Northern Trust from $86.00 to $90.00 and gave the company an “outperform” rating in a report on Thursday, July 18th. Finally, Morgan Stanley reduced 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. 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $88.75.

Northern Trust Stock Performance

NASDAQ:NTRS opened at $91.90 on Friday. Northern Trust Co. has a fifty-two week low of $62.44 and a fifty-two week high of $92.82. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71. The company has a 50 day moving average price of $87.59 and a 200 day moving average price of $85.27. The stock has a market capitalization of $18.80 billion, a P/E ratio of 20.29, a PEG ratio of 1.46 and a beta of 1.08.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings results on Wednesday, July 17th. The asset manager reported $1.78 EPS for the quarter, topping the consensus estimate of $1.75 by $0.03. The business had revenue of $2.72 billion during the quarter, compared to analyst estimates of $1.84 billion. Northern Trust had a return on equity of 12.24% and a net margin of 10.53%. The company’s quarterly revenue was up 53.8% on a year-over-year basis. During the same period last year, the business posted $1.79 earnings per share. Equities research analysts forecast that Northern Trust Co. will post 7.01 EPS for the current year.

Northern Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 3.26%. 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.