Northern Trust Corporation $NTRS Shares Sold by Marble Harbor Investment Counsel LLC

Marble Harbor Investment Counsel LLC lessened its holdings in shares of Northern Trust Corporation (NASDAQ:NTRS) by 1.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 119,776 shares of the asset manager’s stock after selling 1,697 shares during the quarter. Northern Trust comprises about 1.7% of Marble Harbor Investment Counsel LLC’s holdings, making the stock its 17th biggest holding. Marble Harbor Investment Counsel LLC owned about 0.06% of Northern Trust worth $15,186,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in NTRS. FNY Investment Advisers LLC acquired a new stake in Northern Trust during the 2nd quarter worth approximately $25,000. Hantz Financial Services Inc. raised its stake 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 valued at $27,000 after acquiring an additional 209 shares in the last quarter. Zions Bancorporation National Association UT purchased a new position in Northern Trust in the first quarter valued at $29,000. GFG Capital LLC acquired a new position in Northern Trust during the 2nd quarter worth $35,000. Finally, Harbor Investment Advisory LLC increased its holdings in Northern Trust by 68.4% during the 2nd quarter. Harbor Investment Advisory LLC now owns 320 shares of the asset manager’s stock worth $41,000 after purchasing an additional 130 shares during the period. Institutional investors and hedge funds own 83.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Northern Trust in a research report on Wednesday, October 8th. Citigroup raised their price objective on shares of Northern Trust from $110.00 to $135.00 and gave the company a “neutral” rating in a report on Friday, September 5th. Evercore ISI raised their price target on Northern Trust from $125.00 to $135.00 and gave the company an “in-line” rating in a research note on Tuesday, September 30th. Wall Street Zen cut Northern Trust from a “hold” rating to a “sell” rating in a research report on Saturday, October 25th. Finally, The Goldman Sachs Group set a $135.00 target price on Northern Trust in a research report on Tuesday, September 30th. Five investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $132.46.

Insider Buying and Selling

In other news, Director Robert Edward Jr. Moritz bought 3,891 shares of Northern Trust stock in a transaction dated Tuesday, November 4th. The stock was bought at an average price of $128.57 per share, for a total transaction of $500,265.87. Following the purchase, the director owned 6,686 shares of the company’s stock, valued at approximately $859,619.02. The trade was a 139.21% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Susan Cohen Levy sold 27,591 shares of Northern Trust stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $128.13, for a total transaction of $3,535,234.83. Following the completion of the sale, the executive vice president directly owned 48,257 shares in the company, valued at approximately $6,183,169.41. The trade was a 36.38% decrease in their position. The SEC filing for this sale provides additional information. 0.77% of the stock is currently owned by company insiders.

Northern Trust Stock Performance

Shares of NTRS opened at $130.37 on Wednesday. The company’s 50 day simple moving average is $129.22 and its 200-day simple moving average is $121.77. The firm has a market cap of $24.66 billion, a PE ratio of 15.19, a price-to-earnings-growth ratio of 1.37 and a beta of 1.32. Northern Trust Corporation has a 12-month low of $81.62 and a 12-month high of $135.48. 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 (NASDAQ:NTRS) last issued its quarterly earnings results on Wednesday, October 22nd. The asset manager reported $2.29 earnings per share for the quarter, topping analysts’ consensus estimates of $2.26 by $0.03. Northern Trust had a net margin of 11.99% and a return on equity of 14.37%. The firm had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.02 billion. During the same quarter in the prior year, the business earned $2.22 EPS. Northern Trust’s quarterly revenue was up 2.8% compared to the same quarter last year. As a group, equities analysts predict that Northern Trust Corporation will post 8.27 EPS for the current year.

Northern Trust Announces Dividend

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 paid a dividend of $0.80 per share. 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 is currently 37.30%.

Northern Trust 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.