Northern Trust Corporation $NTRS Stock: Curated Wealth Partners LLC Decreases Stake

Curated Wealth Partners LLC trimmed its stake in Northern Trust Corporation (NASDAQ:NTRS) by 95.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,874 shares of the asset manager’s stock after selling 81,926 shares during the period. Curated Wealth Partners LLC’s holdings in Northern Trust were worth $656,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Continuum Advisory LLC bought a new position in shares of Northern Trust during the 2nd quarter valued at approximately $26,000. NBH Bank purchased a new stake in shares of Northern Trust during the second quarter worth about $30,000. Keating Financial Advisory Services Inc. bought a new stake in Northern Trust during the 2nd quarter valued at approximately $31,000. Reflection Asset Management bought a new position in Northern Trust in the 4th quarter worth approximately $25,000. Finally, Basecamp Wealth Advisors LLC grew its holdings in Northern Trust by 99.0% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 203 shares of the asset manager’s stock valued at $28,000 after buying an additional 101 shares in the last quarter. Institutional investors own 83.19% of the company’s stock.

Insider Transactions at Northern Trust

In other news, EVP Thomas A. South sold 1,800 shares of the company’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $184.90, for a total transaction of $332,820.00. Following the transaction, the executive vice president owned 92,917 shares in the company, valued at $17,180,353.30. This represents a 1.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Robert Moritz, Jr. purchased 255 shares of the firm’s stock in a transaction on Wednesday, July 29th. The stock was bought at an average cost of $179.57 per share, with a total value of $45,790.35. Following the acquisition, the director owned 8,400 shares of the company’s stock, valued at approximately $1,508,388. The trade was a 3.13% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.66% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on NTRS. BMO Capital Markets dropped their price target on Northern Trust from $208.00 to $190.00 and set an “outperform” rating for the company in a research note on Tuesday, October 6th. Morgan Stanley increased their price target on shares of Northern Trust from $170.00 to $173.00 and gave the company an “underweight” rating in a report on Thursday, July 23rd. Zacks Research lowered Northern Trust from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 25th. Citigroup increased their target price on shares of Northern Trust from $182.00 to $186.00 and gave the company a “neutral” rating in a research note on Monday, October 5th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Northern Trust from $157.00 to $175.00 and gave the stock an “underperform” rating in a research note on Thursday, July 9th. Three investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $183.93.

Northern Trust Stock Up 1.7%

Shares of Northern Trust stock opened at $165.44 on Friday. Northern Trust Corporation has a 1 year low of $121.12 and a 1 year high of $195.78. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.65 and a quick ratio of 0.65. The stock has a market cap of $30.27 billion, a price-to-earnings ratio of 15.26, a PEG ratio of 0.92 and a beta of 1.24. The firm’s 50-day moving average is $179.94 and its two-hundred day moving average is $172.95.

Northern Trust (NASDAQ:NTRS) last posted its earnings results on Wednesday, July 22nd. The asset manager reported $4.23 earnings per share for the quarter, topping analysts’ consensus estimates of $2.71 by $1.52. The company had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.69 billion. Northern Trust had a return on equity of 16.91% and a net margin of 14.76%. Northern Trust’s revenue was up 35.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.13 earnings per share. As a group, research analysts expect that Northern Trust Corporation will post 11.65 earnings per share for the current fiscal year.

Northern Trust Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Friday, September 4th were given a dividend of $0.88 per share. The ex-dividend date of this dividend was Friday, September 4th. This represents a $3.52 annualized dividend and a yield of 2.1%. This is an increase from Northern Trust’s previous quarterly dividend of $0.80. Northern Trust’s dividend payout ratio is currently 30.21%.

Northern Trust Profile

Northern Trust Corporation is a financial services company headquartered in Chicago, Illinois. Founded in 1889, the company provides wealth management, asset servicing, asset management and banking services to corporations, institutions, affluent individuals and families, and financial professionals.

Through its wealth management business, Northern Trust offers investment management, financial planning, trust and estate services, private banking, and family office solutions. Its asset servicing and banking operations support institutional investors and businesses with custody, fund administration, securities lending, foreign exchange, treasury services, capital markets, and related banking solutions.

Northern Trust serves clients through operations in the United States and international markets, including Canada, Europe, the Middle East and the Asia-Pacific region.