Profund Advisors LLC Sells 457 Shares of Northern Trust Co. (NASDAQ:NTRS)

Profund Advisors LLC reduced its stake in shares of Northern Trust Co. (NASDAQ:NTRS) by 9.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,407 shares of the asset manager’s stock after selling 457 shares during the quarter. Profund Advisors LLC’s holdings in Northern Trust were worth $370,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of NTRS. Olistico Wealth LLC purchased a new position in shares of Northern Trust during the second quarter valued at approximately $25,000. Innealta Capital LLC purchased a new position in shares of Northern Trust in the second quarter worth $26,000. Spartan Planning & Wealth Management boosted its holdings in shares of Northern Trust by 10,566.7% during the 4th 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 during the last quarter. Ridgewood Investments LLC purchased a new stake in Northern Trust in the second quarter worth approximately $30,000. Finally, Versant Capital Management Inc grew its holdings 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 worth $37,000 after acquiring an additional 337 shares during the period. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Analyst Ratings Changes

NTRS has been the topic of several recent research reports. Keefe, Bruyette & Woods decreased 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 research report on Thursday, June 27th. Royal Bank of Canada upped their target price on shares of 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 cut their price target on Northern Trust from $97.00 to $93.00 and set an “underweight” rating for the company in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Northern Trust from $84.00 to $94.00 and gave the stock a “hold” rating in a research note on Monday. Finally, The Goldman Sachs Group cut shares of Northern Trust from a “neutral” rating to a “sell” rating and cut their price objective for the company from $84.00 to $82.00 in a research report on Thursday. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Northern Trust presently has a consensus rating of “Hold” and an average target price of $89.42.

Northern Trust Trading Down 0.9 %

Shares of NTRS opened at $89.93 on Friday. Northern Trust Co. has a 52-week low of $62.44 and a 52-week high of $92.82. The stock has a market cap of $18.13 billion, a PE ratio of 19.66, a price-to-earnings-growth ratio of 1.53 and a beta of 1.08. The firm’s fifty day moving average is $87.72 and its two-hundred day moving average is $85.47. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings data on Wednesday, July 17th. The asset manager reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.75 by $0.03. The company had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $1.84 billion. Northern Trust had a net margin of 10.53% and a return on equity of 12.24%. Northern Trust’s quarterly revenue was up 53.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.79 EPS. Research analysts forecast that Northern Trust Co. will post 7.01 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. The ex-dividend date of this dividend is Friday, September 6th. This represents a $3.00 annualized dividend and a yield of 3.34%. Northern Trust’s payout ratio is 66.23%.

Insider Transactions at Northern Trust

In related news, Director Charles A. Tribbett sold 1,855 shares of Northern Trust stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $88.12, for a total value of $163,462.60. Following the completion of the sale, the director now owns 1,000 shares in the company, valued at approximately $88,120. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Teresa Parker sold 5,883 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $84.06, for a total value of $494,524.98. Following the sale, the executive vice president now owns 83,765 shares of the company’s stock, valued at $7,041,285.90. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 completion of the sale, the director now directly owns 1,000 shares in the company, valued at $88,120. The disclosure for this sale can be found here. Insiders sold 13,738 shares of company stock worth $1,191,388 in the last 90 days. Insiders own 0.64% of the company’s stock.

Northern Trust 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.