Northern Trust Co. (NASDAQ:NTRS) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp decreased its holdings in Northern Trust Co. (NASDAQ:NTRS) by 11.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,390 shares of the asset manager’s stock after selling 2,938 shares during the quarter. Mackenzie Financial Corp’s holdings in Northern Trust were worth $1,964,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Olistico Wealth LLC purchased a new stake in shares of Northern Trust in the second quarter valued at about $25,000. Innealta Capital LLC acquired a new stake in Northern Trust during the 2nd quarter worth approximately $26,000. Spartan Planning & Wealth Management grew its stake 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 valued at $27,000 after purchasing an additional 317 shares during the last quarter. Ridgewood Investments LLC acquired a new position in shares of Northern Trust in the second quarter valued at approximately $30,000. Finally, Versant Capital Management Inc increased 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 valued at $37,000 after purchasing an additional 337 shares during the period. Institutional investors and hedge funds own 83.19% of the company’s stock.

Analysts Set New Price Targets

NTRS has been the topic of a number of analyst reports. Royal Bank of Canada lifted their price objective on shares of Northern Trust from $86.00 to $90.00 and gave the company an “outperform” rating in a research report on Thursday, July 18th. Keefe, Bruyette & Woods lowered their target price 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. Morgan Stanley increased their price target on shares of Northern Trust from $93.00 to $97.00 and gave the stock an “underweight” rating in a report on Monday. The Goldman Sachs Group lowered Northern Trust from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $84.00 to $82.00 in a report on Thursday, September 26th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Northern Trust from $84.00 to $94.00 and gave the stock a “hold” rating in a research note on Monday, September 23rd. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Northern Trust currently has a consensus rating of “Hold” and an average target price of $89.75.

Northern Trust Trading Down 0.4 %

Shares of NTRS stock opened at $88.40 on Thursday. The stock has a market cap of $18.09 billion, a P/E ratio of 19.51, a P/E/G ratio of 1.53 and a beta of 1.08. 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 Co. has a fifty-two week low of $62.44 and a fifty-two week high of $92.82. The business has a fifty day simple moving average of $88.02 and a 200-day simple moving average of $85.75.

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

Northern Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 6th were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date of this dividend was Friday, September 6th. Northern Trust’s payout ratio is currently 66.23%.

Insider Buying and Selling at Northern Trust

In other news, 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 completion of the transaction, the executive vice president now directly owns 83,765 shares of the company’s stock, valued at $7,041,285.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Mark C. Gossett sold 6,000 shares of the firm’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 owns 28,707 shares in the company, valued at $2,552,052.30. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Teresa Parker sold 5,883 shares of the business’s stock in a transaction 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 completion of the transaction, the executive vice president now owns 83,765 shares of the company’s stock, valued at $7,041,285.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,738 shares of company stock worth $1,191,388. 0.64% of the stock is owned by insiders.

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.