Northern Trust Corporation $NTRS Position Lessened by Ritholtz Wealth Management

Ritholtz Wealth Management decreased its position in shares of Northern Trust Corporation (NASDAQ:NTRS) by 9.4% in the first quarter, Holdings Channel.com reports. The firm owned 30,307 shares of the asset manager’s stock after selling 3,150 shares during the period. Ritholtz Wealth Management’s holdings in Northern Trust were worth $4,230,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of NTRS. New Age Alpha Advisors LLC increased its holdings in Northern Trust by 4.9% in the third quarter. New Age Alpha Advisors LLC now owns 1,659 shares of the asset manager’s stock worth $223,000 after buying an additional 78 shares during the last quarter. Compound Planning Inc. lifted its stake in Northern Trust by 5.1% in the third quarter. Compound Planning Inc. now owns 1,666 shares of the asset manager’s stock valued at $224,000 after acquiring an additional 81 shares during the last quarter. Apollon Wealth Management LLC grew its position in Northern Trust by 1.9% in the fourth quarter. Apollon Wealth Management LLC now owns 4,379 shares of the asset manager’s stock worth $598,000 after acquiring an additional 81 shares in the last quarter. NorthRock Partners LLC increased its stake in shares of Northern Trust by 2.2% during the 3rd quarter. NorthRock Partners LLC now owns 3,812 shares of the asset manager’s stock worth $513,000 after purchasing an additional 83 shares during the last quarter. Finally, MML Investors Services LLC increased its stake in shares of Northern Trust by 1.3% during the 4th quarter. MML Investors Services LLC now owns 6,452 shares of the asset manager’s stock worth $881,000 after purchasing an additional 83 shares during the last quarter. 83.19% of the stock is owned by institutional investors and hedge funds.

Northern Trust Stock Up 1.2%

NASDAQ NTRS opened at $175.97 on Friday. Northern Trust Corporation has a twelve month low of $118.99 and a twelve month high of $178.70. The stock has a market cap of $32.56 billion, a PE ratio of 18.43, a PEG ratio of 1.25 and a beta of 1.25. The firm has a 50-day simple moving average of $167.31 and a 200 day simple moving average of $151.72. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.62 and a current ratio of 0.62.

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, beating the consensus estimate of $2.37 by $0.34. The firm had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.13 billion. Northern Trust had a return on equity of 15.94% and a net margin of 12.84%.The company’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.90 earnings per share. On average, research analysts forecast that Northern Trust Corporation will post 10.68 EPS for the current year.

Northern Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 5th will be given a dividend of $0.80 per share. The ex-dividend date is Friday, June 5th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.8%. Northern Trust’s payout ratio is currently 33.51%.

Analysts Set New Price Targets

Several research firms recently issued reports on NTRS. Royal Bank Of Canada lifted their price objective on shares of Northern Trust from $159.00 to $178.00 and gave the company an “outperform” rating in a research note on Wednesday, April 22nd. Barclays raised their target price on Northern Trust from $160.00 to $176.00 and gave the company an “equal weight” rating in a report on Wednesday, April 22nd. Wells Fargo & Company upped their price target on Northern Trust from $175.00 to $189.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Zacks Research raised Northern Trust from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th. Finally, JPMorgan Chase & Co. raised their price objective on Northern Trust from $153.50 to $170.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $165.25.

Insider Activity at Northern Trust

In other news, Director Robert Edward Jr. Moritz bought 225 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The stock was acquired at an average cost of $166.41 per share, for a total transaction of $37,442.25. Following the completion of the purchase, the director owned 8,145 shares of the company’s stock, valued at $1,355,409.45. This trade represents a 2.84% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Clive Bellows sold 2,800 shares of the firm’s stock in a transaction on Friday, April 24th. The stock was sold at an average price of $165.02, for a total value of $462,056.00. Following the completion of the transaction, the insider directly owned 28,217 shares of the company’s stock, valued at approximately $4,656,369.34. This trade represents a 9.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 22,800 shares of company stock worth $3,785,251. 0.66% of the stock is owned by corporate insiders.

Northern Trust Company 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.