Gamco Investors INC. ET AL Sells 7,748 Shares of Northern Trust Corporation $NTRS

Gamco Investors INC. ET AL reduced its position in shares of Northern Trust Corporation (NASDAQ:NTRS) by 4.4% in the 3rd quarter, Holdings Channel reports. The firm owned 168,992 shares of the asset manager’s stock after selling 7,748 shares during the period. Gamco Investors INC. ET AL’s holdings in Northern Trust were worth $22,746,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of NTRS. Hantz Financial Services Inc. increased its stake in shares of Northern Trust by 5,225.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 213 shares of the asset manager’s stock valued at $27,000 after purchasing an additional 209 shares during the last quarter. AlphaCore Capital LLC lifted its position in shares of Northern Trust by 87.4% during the 2nd quarter. AlphaCore Capital LLC now owns 208 shares of the asset manager’s stock worth $27,000 after buying an additional 97 shares during the last quarter. Clearstead Trust LLC bought a new stake in shares of Northern Trust during the 2nd quarter worth $29,000. Caldwell Trust Co acquired a new stake in Northern Trust in the second quarter valued at about $48,000. Finally, SJS Investment Consulting Inc. boosted its stake in Northern Trust by 2,650.0% in the third quarter. SJS Investment Consulting Inc. now owns 385 shares of the asset manager’s stock valued at $52,000 after buying an additional 371 shares in the last quarter. Institutional investors and hedge funds own 83.19% of the company’s stock.

Insider Activity

In other Northern Trust news, insider Guy Gibson sold 3,009 shares of the company’s stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $142.39, for a total value of $428,451.51. Following the completion of the transaction, the insider directly owned 29,332 shares in the company, valued at approximately $4,176,583.48. This represents a 9.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Richard Petrino purchased 1,000 shares of the business’s stock in a transaction dated Thursday, February 5th. The shares were acquired at an average price of $148.91 per share, for a total transaction of $148,910.00. Following the acquisition, the director owned 3,332 shares of the company’s stock, valued at $496,168.12. This trade represents a 42.88% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders sold 34,905 shares of company stock worth $5,166,714. Company insiders own 0.77% of the company’s stock.

Analyst Ratings Changes

NTRS has been the subject of several research analyst reports. Weiss Ratings reissued a “buy (b-)” rating on shares of Northern Trust in a research note on Thursday, January 22nd. The Goldman Sachs Group raised their price target on shares of Northern Trust from $130.00 to $148.00 and gave the company a “sell” rating in a research note on Wednesday, January 28th. Royal Bank Of Canada lifted their price target on shares of Northern Trust from $139.00 to $159.00 and gave the company an “outperform” rating in a report on Friday, January 23rd. Barclays upped their price objective on shares of Northern Trust from $136.00 to $160.00 and gave the stock an “equal weight” rating in a research report on Monday, January 5th. Finally, Zacks Research upgraded shares of Northern Trust from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $148.75.

Northern Trust Stock Performance

Shares of NTRS stock opened at $138.59 on Friday. The business’s 50-day moving average price is $145.64 and its 200-day moving average price is $136.03. Northern Trust Corporation has a 12 month low of $81.62 and a 12 month high of $157.60. The firm has a market capitalization of $25.75 billion, a price-to-earnings ratio of 15.86, a PEG ratio of 1.11 and a beta of 1.27. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.57.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings results on Friday, January 30th. The asset manager reported $2.42 earnings per share for the quarter, topping the consensus estimate of $2.37 by $0.05. Northern Trust had a return on equity of 14.87% and a net margin of 12.15%.The company had revenue of $3.15 billion for the quarter. During the same quarter last year, the firm posted $2.26 earnings per share. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. Equities research analysts forecast that Northern Trust Corporation will post 8.27 EPS for the current year.

Northern Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Friday, March 6th will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Friday, March 6th. Northern Trust’s payout ratio is presently 36.61%.

About Northern Trust

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.