Northern Trust Co. (NASDAQ:NTRS) Stock Position Decreased by First City Capital Management Inc.

First City Capital Management Inc. lowered its holdings in Northern Trust Co. (NASDAQ:NTRS) by 20.2% during the second quarter, HoldingsChannel.com reports. The fund owned 4,565 shares of the asset manager’s stock after selling 1,152 shares during the period. First City Capital Management Inc.’s holdings in Northern Trust were worth $383,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Olistico Wealth LLC acquired a new stake in shares of Northern Trust in the second quarter valued at approximately $25,000. Innealta Capital LLC bought a new stake in Northern Trust during the 2nd quarter valued at $26,000. Spartan Planning & Wealth Management boosted its position in Northern Trust by 10,566.7% during the 4th quarter. Spartan Planning & Wealth Management now owns 320 shares of the asset manager’s stock worth $27,000 after acquiring an additional 317 shares during the period. Ridgewood Investments LLC bought a new position in shares of Northern Trust in the second quarter worth $30,000. Finally, Versant Capital Management Inc increased its holdings in shares of Northern Trust by 343.9% during 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. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Northern Trust

In other Northern Trust news, Director Charles A. Tribbett sold 1,855 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $88.12, for a total transaction of $163,462.60. Following the completion of the transaction, the director now directly owns 1,000 shares in the company, valued at $88,120. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Northern Trust news, Director Charles A. Tribbett sold 1,855 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $88,120. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Teresa Parker sold 5,883 shares of Northern Trust 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 completion of the transaction, the executive vice president now owns 83,765 shares of the company’s stock, valued at approximately $7,041,285.90. The disclosure for this sale can be found here. Insiders have sold a total of 13,738 shares of company stock valued at $1,191,388 in the last 90 days. 0.64% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

NTRS has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods dropped 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 reduced their target price 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 decreased their price objective on shares of Northern Trust from $85.00 to $84.00 and set a “hold” rating for the company in a research note on Thursday, August 15th. The Goldman Sachs Group lowered their target price 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. 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 research report on Thursday, July 18th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $88.75.

Northern Trust Stock Performance

Shares of NASDAQ NTRS opened at $91.90 on Friday. The firm has a market capitalization of $18.80 billion, a price-to-earnings ratio of 20.29, a PEG ratio of 1.46 and a beta of 1.08. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The business has a fifty day simple moving average of $87.59 and a 200 day simple moving average of $85.27. Northern Trust Co. has a one year low of $62.44 and a one year high of $92.82.

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 analysts’ consensus estimates of $1.75 by $0.03. The business 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%. The firm’s revenue for the quarter was up 53.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.79 earnings per share. Sell-side analysts expect that Northern Trust Co. will post 7.01 EPS for the current year.

Northern Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 6th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $3.00 annualized dividend and a dividend yield of 3.26%. Northern Trust’s dividend payout ratio (DPR) is presently 66.23%.

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.