Fisher Funds Management LTD Sells 15,187 Shares of Northern Trust Corporation $NTRS

Fisher Funds Management LTD decreased its position in Northern Trust Corporation (NASDAQ:NTRS) by 40.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 22,827 shares of the asset manager’s stock after selling 15,187 shares during the quarter. Fisher Funds Management LTD’s holdings in Northern Trust were worth $2,894,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in NTRS. Amalgamated Bank grew its stake in shares of Northern Trust by 0.5% in the 1st quarter. Amalgamated Bank now owns 38,065 shares of the asset manager’s stock valued at $3,755,000 after buying an additional 172 shares in the last quarter. Mather Group LLC. grew its stake in shares of Northern Trust by 20.9% in the 1st quarter. Mather Group LLC. now owns 3,426 shares of the asset manager’s stock valued at $338,000 after buying an additional 592 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Northern Trust by 2.2% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,703 shares of the asset manager’s stock valued at $2,141,000 after buying an additional 467 shares in the last quarter. Calamos Advisors LLC lifted its holdings in Northern Trust by 1.1% in the 1st quarter. Calamos Advisors LLC now owns 79,109 shares of the asset manager’s stock worth $7,804,000 after purchasing an additional 881 shares during the last quarter. Finally, OneDigital Investment Advisors LLC lifted its holdings in Northern Trust by 58.3% in the 1st quarter. OneDigital Investment Advisors LLC now owns 3,102 shares of the asset manager’s stock worth $306,000 after purchasing an additional 1,142 shares during the last quarter. Institutional investors own 83.19% of the company’s stock.

Northern Trust Stock Performance

Shares of NASDAQ:NTRS opened at $128.67 on Friday. The business’s fifty day moving average price is $129.52 and its two-hundred day moving average price is $119.39. Northern Trust Corporation has a fifty-two week low of $81.62 and a fifty-two week high of $135.48. The stock has a market capitalization of $24.61 billion, a price-to-earnings ratio of 15.00, a price-to-earnings-growth ratio of 1.37 and a beta of 1.31. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.70 and a quick ratio of 0.72.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings results on Wednesday, October 22nd. The asset manager reported $2.29 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $0.03. Northern Trust had a return on equity of 14.37% and a net margin of 11.99%.The firm had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $2.02 billion. During the same period in the prior year, the business posted $2.22 earnings per share. The business’s revenue was up 2.8% compared to the same quarter last year. As a group, analysts predict that Northern Trust Corporation will post 8.27 EPS for the current fiscal year.

Northern Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 1st. Stockholders of record on Friday, December 5th will be issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Friday, December 5th. Northern Trust’s dividend payout ratio is presently 37.30%.

Wall Street Analysts Forecast Growth

NTRS has been the subject of several analyst reports. Keefe, Bruyette & Woods boosted their target price on Northern Trust from $123.00 to $125.00 and gave the stock an “underperform” rating in a report on Thursday, October 23rd. Wall Street Zen lowered Northern Trust from a “hold” rating to a “sell” rating in a report on Saturday, October 25th. BMO Capital Markets initiated coverage on Northern Trust in a report on Friday, October 3rd. They issued a “market perform” rating and a $142.00 target price for the company. Wells Fargo & Company boosted their target price on Northern Trust from $127.00 to $131.00 and gave the stock an “equal weight” rating in a report on Thursday, October 23rd. Finally, Morgan Stanley boosted their target price on Northern Trust from $110.00 to $131.00 and gave the stock an “underweight” rating in a report on Monday, September 29th. Five equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $130.71.

Insider Activity at Northern Trust

In other Northern Trust news, Director Robert Edward Jr. Moritz bought 270 shares of the firm’s stock in a transaction dated Monday, October 27th. The shares were bought at an average price of $126.66 per share, for a total transaction of $34,198.20. Following the completion of the acquisition, the director owned 2,795 shares of the company’s stock, valued at approximately $354,014.70. This trade represents a 10.69% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.77% of the company’s stock.

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, Asset Servicing and Wealth Management. The Asset Servicing segment offers asset servicing and related services, including custody, fund administration, investment operations outsourcing, investment management, investment risk and analytical services, employee benefit services, securities lending, foreign exchange, treasury management, brokerage services, transition management services, banking, and cash management services.