Levin Capital Strategies L.P. Reduces Position in Northern Trust Corporation $NTRS

Levin Capital Strategies L.P. trimmed its stake in Northern Trust Corporation (NASDAQ:NTRS) by 8.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 118,192 shares of the asset manager’s stock after selling 10,977 shares during the quarter. Northern Trust makes up 1.5% of Levin Capital Strategies L.P.’s portfolio, making the stock its 24th biggest holding. Levin Capital Strategies L.P. owned approximately 0.06% of Northern Trust worth $14,986,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in NTRS. FNY Investment Advisers LLC acquired a new position in shares of Northern Trust in the second quarter worth $25,000. Hantz Financial Services Inc. raised its holdings in shares of Northern Trust by 5,225.0% in the second quarter. Hantz Financial Services Inc. now owns 213 shares of the asset manager’s stock worth $27,000 after acquiring an additional 209 shares during the last quarter. Zions Bancorporation National Association UT acquired a new position in shares of Northern Trust in the first quarter worth $29,000. Wayfinding Financial LLC acquired a new position in shares of Northern Trust in the first quarter worth $35,000. Finally, GFG Capital LLC purchased a new position in shares of Northern Trust during the 2nd quarter worth $35,000. 83.19% of the stock is owned by institutional investors and hedge funds.

Northern Trust Stock Down 0.8%

Shares of NASDAQ NTRS opened at $127.68 on Tuesday. The stock has a fifty day moving average price of $129.46 and a 200 day moving average price of $120.11. The company has a current ratio of 0.70, a quick ratio of 0.72 and a debt-to-equity ratio of 0.58. Northern Trust Corporation has a 12-month low of $81.62 and a 12-month high of $135.48. The company has a market cap of $24.42 billion, a P/E ratio of 14.88, a P/E/G ratio of 1.37 and a beta of 1.31.

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

Northern Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 1st. Shareholders of record on Friday, December 5th will be given a $0.80 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $3.20 annualized dividend and a yield of 2.5%. Northern Trust’s dividend payout ratio (DPR) is 37.30%.

Analysts Set New Price Targets

A number of research analysts have weighed in on NTRS shares. Evercore ISI increased their price target on Northern Trust from $125.00 to $135.00 and gave the stock an “in-line” rating in a research note on Tuesday, September 30th. Zacks Research lowered Northern Trust from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 9th. Truist Financial reduced their price target on Northern Trust from $142.00 to $139.00 and set a “hold” rating on the stock in a research note on Thursday, October 23rd. TD Cowen increased their price target on Northern Trust from $152.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday, October 23rd. Finally, Wolfe Research raised Northern Trust from an “underperform” rating to a “peer perform” rating in a research note on Thursday, July 24th. Five analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $130.71.

Insider Buying and Selling at Northern Trust

In other Northern Trust news, Director Robert Edward Jr. Moritz bought 270 shares of the stock in a transaction dated Monday, October 27th. The stock was bought at an average cost of $126.66 per share, for a total transaction of $34,198.20. Following the completion of the purchase, the director directly owned 2,795 shares of the company’s stock, valued at approximately $354,014.70. The trade was a 10.69% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.77% of the stock is owned by corporate insiders.

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.