M.D. Sass Investors Services Inc. reduced its stake in shares of Northern Trust Co. (NASDAQ:NTRS) by 9.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 138,102 shares of the asset manager’s stock after selling 14,398 shares during the quarter. Northern Trust accounts for 2.9% of M.D. Sass Investors Services Inc.’s holdings, making the stock its 16th largest position. M.D. Sass Investors Services Inc. owned approximately 0.06% of Northern Trust worth $12,429,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in NTRS. Barrow Hanley Mewhinney & Strauss LLC boosted its position in Northern Trust by 65.3% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 10,482,148 shares of the asset manager’s stock worth $943,393,000 after purchasing an additional 4,139,159 shares in the last quarter. American Century Companies Inc. boosted its holdings in Northern Trust by 27.9% during the first quarter. American Century Companies Inc. now owns 5,452,010 shares of the asset manager’s stock worth $492,916,000 after buying an additional 1,190,787 shares in the last quarter. Nuance Investments LLC boosted its holdings in Northern Trust by 83.2% during the second quarter. Nuance Investments LLC now owns 974,254 shares of the asset manager’s stock worth $87,683,000 after buying an additional 442,489 shares in the last quarter. First Trust Advisors LP grew its position in Northern Trust by 438.6% during the first quarter. First Trust Advisors LP now owns 520,929 shares of the asset manager’s stock valued at $47,097,000 after buying an additional 424,216 shares during the period. Finally, FMR LLC grew its position in Northern Trust by 4.8% during the first quarter. FMR LLC now owns 8,605,350 shares of the asset manager’s stock valued at $778,009,000 after buying an additional 394,338 shares during the period. 80.88% of the stock is owned by institutional investors.

In related news, EVP Robert P. Browne sold 21,612 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $99.61, for a total transaction of $2,152,771.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Biff Bowman sold 46,204 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $92.81, for a total value of $4,288,193.24. The disclosure for this sale can be found here. In the last 90 days, insiders sold 111,567 shares of company stock worth $10,639,832. Company insiders own 1.15% of the company’s stock.

Shares of NTRS traded up $2.87 during mid-day trading on Wednesday, hitting $97.34. 105,958 shares of the company were exchanged, compared to its average volume of 906,367. Northern Trust Co. has a 1-year low of $75.96 and a 1-year high of $107.45. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.64 and a current ratio of 0.64. The company has a 50 day moving average of $90.40 and a 200-day moving average of $91.58. The stock has a market cap of $20.30 billion, a price-to-earnings ratio of 14.47, a price-to-earnings-growth ratio of 1.66 and a beta of 1.19.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings data on Wednesday, July 24th. The asset manager reported $1.75 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.68 by $0.07. Northern Trust had a return on equity of 15.74% and a net margin of 22.20%. The company had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.51 billion. During the same period in the previous year, the firm posted $1.68 EPS. Northern Trust’s revenue was down .1% compared to the same quarter last year. Research analysts anticipate that Northern Trust Co. will post 6.59 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.88%. This is a boost from Northern Trust’s previous quarterly dividend of $0.60. Northern Trust’s dividend payout ratio is presently 35.66%.

A number of research analysts have weighed in on the stock. Deutsche Bank decreased their price objective on shares of Northern Trust from $91.00 to $87.00 and set a “hold” rating for the company in a research report on Wednesday, August 21st. BidaskClub cut Northern Trust from a “hold” rating to a “sell” rating in a research report on Monday, August 12th. Bank of America restated a “neutral” rating and set a $97.00 target price (down from $107.00) on shares of Northern Trust in a research report on Thursday, June 6th. Zacks Investment Research lowered Northern Trust from a “buy” rating to a “hold” rating in a research note on Friday, May 17th. Finally, Morgan Stanley set a $89.00 price target on Northern Trust and gave the stock a “sell” rating in a report on Friday, August 9th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $104.00.

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, Corporate & Institutional Services (C&IS) and Wealth Management.

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Institutional Ownership by Quarter for Northern Trust (NASDAQ:NTRS)

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