Ritholtz Wealth Management Buys New Shares in Northern Trust Co. (NASDAQ:NTRS)

Ritholtz Wealth Management purchased a new position in Northern Trust Co. (NASDAQ:NTRS) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 5,420 shares of the asset manager’s stock, valued at approximately $488,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Olistico Wealth LLC purchased a new position in shares of Northern Trust during the 2nd quarter worth about $25,000. Innealta Capital LLC purchased a new position in Northern Trust during the second quarter worth approximately $26,000. Ridgewood Investments LLC acquired a new position in shares of Northern Trust in the 2nd quarter valued at $30,000. Versant Capital Management Inc grew its stake in shares of Northern Trust by 343.9% during the 2nd quarter. Versant Capital Management Inc now owns 435 shares of the asset manager’s stock valued at $37,000 after buying an additional 337 shares during the period. Finally, Tributary Capital Management LLC acquired a new stake in shares of Northern Trust during the 1st quarter worth $53,000. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Northern Trust Stock Up 0.3 %

Shares of NASDAQ NTRS opened at $94.38 on Wednesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71. Northern Trust Co. has a 1 year low of $62.44 and a 1 year high of $96.44. The stock’s 50-day simple moving average is $88.87 and its 200-day simple moving average is $86.11. The firm has a market cap of $19.31 billion, a price-to-earnings ratio of 20.83, a PEG ratio of 1.44 and a beta of 1.08.

Northern Trust (NASDAQ:NTRS) last announced its earnings results on Wednesday, July 17th. The asset manager reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.03. Northern Trust had a return on equity of 12.24% and a net margin of 10.53%. The company had revenue of $2.72 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same period in the prior year, the company posted $1.79 EPS. Northern Trust’s quarterly revenue was up 53.8% on a year-over-year basis. As a group, equities analysts anticipate that Northern Trust Co. will post 7.04 earnings per share for the current fiscal year.

Insider Activity at Northern Trust

In other Northern Trust news, EVP Teresa Parker sold 5,883 shares of the firm’s stock in a transaction 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 directly owns 83,765 shares of the company’s stock, valued at $7,041,285.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Mark C. Gossett sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $88.90, for a total transaction of $533,400.00. Following the sale, the executive vice president now directly owns 28,707 shares of the company’s stock, valued at approximately $2,552,052.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Teresa Parker sold 5,883 shares of Northern Trust stock in a transaction on Friday, August 9th. The stock was 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 directly owns 83,765 shares of the company’s stock, valued at approximately $7,041,285.90. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,738 shares of company stock valued at $1,191,388 over the last ninety days. Corporate insiders own 0.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on NTRS shares. Morgan Stanley boosted their price target on Northern Trust from $93.00 to $97.00 and gave the company an “underweight” rating in a research report on Monday, September 30th. The Goldman Sachs Group downgraded shares of Northern Trust from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $84.00 to $82.00 in a research report on Thursday, September 26th. 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. Royal Bank of Canada increased their price objective 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. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Northern Trust from $84.00 to $94.00 and gave the company a “hold” rating in a report on Monday, September 23rd. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $90.42.

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.