King Luther Capital Management Corp Sells 1,300 Shares of Northern Trust Co. (NASDAQ:NTRS)

King Luther Capital Management Corp reduced its stake in Northern Trust Co. (NASDAQ:NTRS) by 2.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 47,463 shares of the asset manager’s stock after selling 1,300 shares during the period. King Luther Capital Management Corp’s holdings in Northern Trust were worth $3,986,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Canada Pension Plan Investment Board increased its stake in Northern Trust by 0.9% in the 2nd quarter. Canada Pension Plan Investment Board now owns 420,263 shares of the asset manager’s stock worth $35,294,000 after purchasing an additional 3,889 shares during the period. Benjamin F. Edwards & Company Inc. increased its stake in Northern Trust by 0.3% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 77,461 shares of the asset manager’s stock worth $6,505,000 after purchasing an additional 222 shares during the period. Intech Investment Management LLC increased its stake in Northern Trust by 64.5% in the 2nd quarter. Intech Investment Management LLC now owns 93,524 shares of the asset manager’s stock worth $7,854,000 after purchasing an additional 36,679 shares during the period. Seven Eight Capital LP increased its stake in Northern Trust by 72.6% in the 2nd quarter. Seven Eight Capital LP now owns 59,715 shares of the asset manager’s stock worth $5,015,000 after purchasing an additional 25,125 shares during the period. Finally, Vanguard Personalized Indexing Management LLC increased its stake in Northern Trust by 15.4% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 19,596 shares of the asset manager’s stock worth $1,638,000 after purchasing an additional 2,619 shares during the period. 83.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on NTRS shares. Deutsche Bank Aktiengesellschaft reduced their target price 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. The Goldman Sachs Group cut their target price on shares of Northern Trust from $94.00 to $84.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 2nd. Keefe, Bruyette & Woods reduced 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. Morgan Stanley lowered their price objective on shares of Northern Trust from $97.00 to $93.00 and set an “underweight” rating for the company in a report on Tuesday, July 30th. Finally, Royal Bank of Canada upped their target price on Northern Trust from $86.00 to $90.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. Two 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, Northern Trust currently has an average rating of “Hold” and a consensus target price of $88.75.

Insider Activity at Northern Trust

In other Northern Trust news, EVP Mark C. Gossett sold 6,000 shares of Northern Trust stock in a transaction on Tuesday, August 27th. The stock was 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 of the company’s stock, valued at approximately $2,552,052.30. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Mark C. Gossett sold 6,000 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $2,552,052.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Teresa Parker sold 5,883 shares of the business’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 transaction of $494,524.98. Following the transaction, the executive vice president now directly 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 three months, insiders have sold 13,738 shares of company stock valued at $1,191,388. 0.64% of the stock is owned by corporate insiders.

Northern Trust Trading Down 0.8 %

Northern Trust stock opened at $91.90 on Friday. Northern Trust Co. has a 12 month low of $62.44 and a 12 month high of $92.82. The company has a market capitalization of $18.80 billion, a price-to-earnings ratio of 20.29, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08. The business’s fifty day simple moving average is $87.59 and its two-hundred day simple moving average is $85.27. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58.

Northern Trust (NASDAQ:NTRS) last announced its quarterly 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 net margin of 10.53% and a return on equity of 12.24%. Northern Trust’s revenue was up 53.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.79 EPS. As a group, equities analysts predict that Northern Trust Co. will post 7.01 earnings per share for the current fiscal year.

Northern Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 6th will be issued a $0.75 dividend. The ex-dividend date is Friday, September 6th. This represents a $3.00 dividend on an annualized basis and a yield of 3.26%. Northern Trust’s payout ratio is currently 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.