Northern Trust Corporation $NTRS Shares Sold by Van Hulzen Asset Management LLC

Van Hulzen Asset Management LLC reduced its stake in Northern Trust Corporation (NASDAQ:NTRS) by 52.2% in the second quarter, HoldingsChannel reports. The fund owned 16,664 shares of the asset manager’s stock after selling 18,200 shares during the quarter. Van Hulzen Asset Management LLC’s holdings in Northern Trust were worth $2,897,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in NTRS. Empowered Funds LLC raised its stake in shares of 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 buying an additional 2,363 shares in the last quarter. Woodline Partners LP grew its holdings in Northern Trust by 39.1% during the first quarter. Woodline Partners LP now owns 16,557 shares of the asset manager’s stock worth $1,633,000 after acquiring an additional 4,653 shares during the period. EverSource Wealth Advisors LLC raised its position 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 acquiring an additional 596 shares in the last quarter. WINTON GROUP Ltd acquired a new stake in Northern Trust in the 2nd quarter valued at about $267,000. Finally, Daiwa Securities Group Inc. lifted its holdings in Northern Trust by 4.6% in the 2nd quarter. Daiwa Securities Group Inc. now owns 29,290 shares of the asset manager’s stock valued at $3,714,000 after acquiring an additional 1,275 shares during the last quarter. Institutional investors and hedge funds own 83.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Royal Bank Of Canada cut shares of Northern Trust from an “outperform” rating to a “sector perform” rating and set a $178.00 price objective on the stock. in a research note on Wednesday, July 22nd. Keefe, Bruyette & Woods increased their price objective on Northern Trust from $157.00 to $175.00 and gave the company an “underperform” rating in a research report on Thursday, July 9th. Truist Financial raised their price objective on Northern Trust from $176.00 to $186.00 and gave the stock a “hold” rating in a research note on Friday, June 26th. Evercore set a $179.00 target price on Northern Trust in a report on Monday, July 6th. Finally, Citigroup boosted their target price on Northern Trust from $162.00 to $172.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 30th. Four research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Northern Trust presently has a consensus rating of “Hold” and an average target price of $180.68.

Insider Activity at Northern Trust

In related news, Director Robert Moritz, Jr. purchased 255 shares of the firm’s stock in a transaction that occurred on Wednesday, July 29th. The stock was acquired at an average cost of $179.57 per share, for a total transaction of $45,790.35. Following the completion of the acquisition, the director owned 8,400 shares in the company, valued at $1,508,388. This trade represents a 3.13% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Thomas A. South sold 1,800 shares of the business’s stock in a transaction that occurred on 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 directly owned 92,917 shares in the company, valued at $17,180,353.30. The trade was a 1.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.66% of the company’s stock.

Northern Trust Price Performance

NTRS opened at $184.69 on Thursday. The firm has a market capitalization of $33.79 billion, a P/E ratio of 15.85, a PEG ratio of 1.04 and a beta of 1.24. The stock has a fifty day moving average of $184.51 and a 200-day moving average of $166.80. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.43. Northern Trust Corporation has a 12-month low of $121.12 and a 12-month high of $195.78.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings results on Wednesday, July 22nd. The asset manager reported $4.23 earnings per share for the quarter, beating the consensus estimate of $2.71 by $1.52. The firm had revenue of $2.71 billion for 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 quarterly revenue was up 35.1% on a year-over-year basis. During the same period in the previous year, the firm earned $2.13 earnings per share. Equities analysts forecast that Northern Trust Corporation will post 11.59 EPS for the current fiscal year.

Northern Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 4th will be given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.9%. This is a positive change from Northern Trust’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Friday, September 4th. Northern Trust’s payout ratio is currently 30.21%.

Northern Trust Profile

Northern Trust Corporation is a financial services company headquartered in Chicago, Illinois, and the holding company for Northern Trust Company and related businesses. Founded in 1889, the company provides banking, investment management and fiduciary services to corporations, institutions, high-net-worth individuals, families and privately held businesses.

Northern Trust’s institutional offerings include asset custody and servicing, fund administration, securities lending, foreign exchange, treasury services, capital markets support and related solutions.