Sterling Capital Management LLC Lowers Stock Position in Northern Trust Corporation $NTRS

Sterling Capital Management LLC lowered its holdings in shares of Northern Trust Corporation (NASDAQ:NTRS) by 19.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,384 shares of the asset manager’s stock after selling 4,073 shares during the period. Sterling Capital Management LLC’s holdings in Northern Trust were worth $2,426,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Empowered Funds LLC boosted its stake in Northern Trust by 13.3% in the 1st quarter. Empowered Funds LLC now owns 20,112 shares of the asset manager’s stock worth $1,984,000 after purchasing an additional 2,363 shares in the last quarter. Woodline Partners LP raised its holdings in Northern Trust by 39.1% in the first quarter. Woodline Partners LP now owns 16,557 shares of the asset manager’s stock worth $1,633,000 after buying an additional 4,653 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in Northern Trust by 79.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,350 shares of the asset manager’s stock worth $171,000 after buying an additional 596 shares during the last quarter. WINTON GROUP Ltd bought a new position in shares of Northern Trust in the second quarter worth approximately $267,000. Finally, Daiwa Securities Group Inc. lifted its stake in shares of Northern Trust by 4.6% in the second quarter. Daiwa Securities Group Inc. now owns 29,290 shares of the asset manager’s stock worth $3,714,000 after buying an additional 1,275 shares in the last quarter. 83.19% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Clive Bellows sold 2,800 shares of Northern Trust stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $165.02, for a total value of $462,056.00. Following the sale, the insider directly owned 28,217 shares of the company’s stock, valued at approximately $4,656,369.34. The trade was a 9.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert Edward Jr. Moritz acquired 225 shares of Northern Trust stock in a transaction on Friday, May 1st. The stock was purchased at an average cost of $166.41 per share, for a total transaction of $37,442.25. Following the purchase, the director owned 8,145 shares in the company, valued at approximately $1,355,409.45. The trade was a 2.84% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders have sold 22,800 shares of company stock valued at $3,785,251. Corporate insiders own 0.66% of the company’s stock.

Northern Trust Price Performance

NTRS stock opened at $173.87 on Monday. The stock has a market cap of $32.17 billion, a P/E ratio of 18.21, a PEG ratio of 1.24 and a beta of 1.25. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.51. The business’s 50-day moving average price is $167.67 and its 200-day moving average price is $152.01. Northern Trust Corporation has a twelve month low of $118.99 and a twelve month high of $178.70.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings results on Tuesday, April 21st. The asset manager reported $2.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.37 by $0.34. Northern Trust had a return on equity of 15.94% and a net margin of 12.84%.The business had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same quarter in the prior year, the business posted $1.90 EPS. Northern Trust’s revenue for the quarter was up 13.8% compared to the same quarter last year. On average, equities research analysts forecast that Northern Trust Corporation will post 10.72 EPS for the current year.

Northern Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Friday, June 5th will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Friday, June 5th. Northern Trust’s dividend payout ratio (DPR) is 33.51%.

Analyst Upgrades and Downgrades

NTRS has been the subject of several analyst reports. UBS Group set a $186.00 price target on shares of Northern Trust in a research report on Friday. Wells Fargo & Company lifted their target price on Northern Trust from $175.00 to $189.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 24th. JPMorgan Chase & Co. boosted their price target on Northern Trust from $153.50 to $170.00 and gave the stock a “neutral” rating in a research note on Monday, May 11th. Zacks Research raised Northern Trust from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th. Finally, The Goldman Sachs Group lifted their price objective on Northern Trust from $151.00 to $169.00 and gave the stock a “neutral” rating in a report on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $167.62.

Northern Trust Profile

Northern Trust Corporation (NASDAQ: NTRS) is a global financial services firm headquartered in Chicago that provides asset servicing, asset management and wealth management solutions to institutions, corporations and high-net-worth individuals. The company’s core businesses include custody and fund administration, investment operations outsourcing, trust and fiduciary services, private banking, and retirement and defined contribution plan services.

Northern Trust’s product and service offerings span custody and fund accounting, portfolio and performance analytics, securities lending, cash management and foreign exchange, as well as discretionary and non-discretionary investment management.