DoubleLine ETF Adviser LP Lowers Position in Northern Trust Co. (NASDAQ:NTRS)

DoubleLine ETF Adviser LP trimmed its position in shares of Northern Trust Co. (NASDAQ:NTRS) by 4.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,719 shares of the asset manager’s stock after selling 166 shares during the quarter. DoubleLine ETF Adviser LP’s holdings in Northern Trust were worth $312,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP raised its holdings in Northern Trust by 140.2% in the fourth quarter. Wellington Management Group LLP now owns 5,802,792 shares of the asset manager’s stock worth $489,640,000 after purchasing an additional 3,387,002 shares in the last quarter. Confluence Investment Management LLC bought a new position in shares of Northern Trust in the 1st quarter worth about $105,665,000. Massachusetts Financial Services Co. MA lifted its position in Northern Trust by 13.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,413,620 shares of the asset manager’s stock valued at $622,596,000 after acquiring an additional 850,556 shares during the period. Panagora Asset Management Inc. lifted its position in Northern Trust by 4,660.5% during the 2nd quarter. Panagora Asset Management Inc. now owns 399,932 shares of the asset manager’s stock valued at $33,586,000 after acquiring an additional 391,531 shares during the period. Finally, Bank of Nova Scotia boosted its stake in Northern Trust by 1,677.1% during the fourth quarter. Bank of Nova Scotia now owns 362,871 shares of the asset manager’s stock worth $30,618,000 after acquiring an additional 342,452 shares in the last quarter. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on NTRS. Keefe, Bruyette & Woods lowered their target price on shares of Northern Trust from $92.00 to $85.00 and set a “market perform” rating for the company in a report on Thursday, June 27th. Royal Bank of Canada lifted their price objective on Northern Trust from $86.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. The Goldman Sachs Group cut Northern Trust from a “neutral” rating to a “sell” rating and cut their target price for the stock from $84.00 to $82.00 in a research note on Thursday. Morgan Stanley lowered their price target on Northern Trust from $97.00 to $93.00 and set an “underweight” rating for the company in a research report on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Northern Trust from $84.00 to $94.00 and gave the company a “hold” rating in a research report on Monday. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $89.42.

Insider Activity

In related news, 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 completion of the sale, the executive vice president now directly owns 83,765 shares in the company, valued at $7,041,285.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Mark C. Gossett sold 6,000 shares of Northern Trust stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $88.90, for a total transaction of $533,400.00. Following the transaction, the executive vice president now directly owns 28,707 shares of the company’s stock, valued at approximately $2,552,052.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 value of $494,524.98. Following 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. Insiders sold 13,738 shares of company stock valued at $1,191,388 in the last quarter. 0.64% of the stock is currently owned by insiders.

Northern Trust Stock Down 0.9 %

NTRS opened at $89.93 on Friday. Northern Trust Co. has a twelve month low of $62.44 and a twelve month high of $92.82. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. The firm has a 50 day moving average price of $87.72 and a 200-day moving average price of $85.47. The stock has a market capitalization of $18.13 billion, a price-to-earnings ratio of 19.85, a PEG ratio of 1.53 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 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.03. Northern Trust had a return on equity of 12.24% and a net margin of 10.53%. The firm had revenue of $2.72 billion for the quarter, compared to analysts’ expectations of $1.84 billion. During the same period in the prior year, the firm earned $1.79 EPS. The company’s revenue was up 53.8% compared to the same quarter last year. Equities research analysts forecast that Northern Trust Co. will post 7.01 earnings per share for the current year.

Northern Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th will be paid a dividend of $0.75 per share. The ex-dividend date is Friday, September 6th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.34%. Northern Trust’s dividend 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.