Wilkins Investment Counsel Inc. Trims Holdings in Northern Trust Corporation $NTRS

Wilkins Investment Counsel Inc. cut its position in shares of Northern Trust Corporation (NASDAQ:NTRS) by 8.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 144,181 shares of the asset manager’s stock after selling 12,538 shares during the quarter. Northern Trust makes up 2.7% of Wilkins Investment Counsel Inc.’s investment portfolio, making the stock its 12th largest position. Wilkins Investment Counsel Inc. owned about 0.08% of Northern Trust worth $19,407,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. Salomon & Ludwin LLC grew its stake in Northern Trust by 13.1% in the 3rd quarter. Salomon & Ludwin LLC now owns 682 shares of the asset manager’s stock worth $90,000 after acquiring an additional 79 shares during the period. New York Life Investment Management LLC boosted its holdings in shares of Northern Trust by 0.3% during the second quarter. New York Life Investment Management LLC now owns 29,132 shares of the asset manager’s stock worth $3,694,000 after purchasing an additional 80 shares during the last quarter. Welch Group LLC grew its position in shares of Northern Trust by 2.8% in the second quarter. Welch Group LLC now owns 3,153 shares of the asset manager’s stock valued at $400,000 after purchasing an additional 87 shares during the period. Harbour Investments Inc. increased its stake in Northern Trust by 10.0% in the second quarter. Harbour Investments Inc. now owns 1,032 shares of the asset manager’s stock valued at $131,000 after purchasing an additional 94 shares during the last quarter. Finally, Twin Capital Management Inc. lifted its position in Northern Trust by 0.5% during the second quarter. Twin Capital Management Inc. now owns 20,071 shares of the asset manager’s stock worth $2,545,000 after buying an additional 94 shares during the period. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Insider Activity

In other news, insider John Landers sold 766 shares of Northern Trust stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $124.35, for a total transaction of $95,252.10. Following the sale, the insider owned 7,313 shares in the company, valued at $909,371.55. This trade represents a 9.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Susan Cohen Levy sold 27,591 shares of the business’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $128.13, for a total transaction of $3,535,234.83. Following the transaction, 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.77% of the company’s stock.

Northern Trust Price Performance

NTRS opened at $144.42 on Thursday. Northern Trust Corporation has a 52-week low of $81.62 and a 52-week high of $148.98. The company has a 50 day moving average of $136.96 and a two-hundred day moving average of $131.54. The company has a market cap of $27.31 billion, a P/E ratio of 16.83, a P/E/G ratio of 1.19 and a beta of 1.27. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.58.

Northern Trust (NASDAQ:NTRS) last posted its earnings results on Friday, January 30th. The asset manager reported $2.42 earnings per share for the quarter. Northern Trust had a net margin of 11.99% and a return on equity of 14.37%. The business had revenue of $3.15 billion for the quarter. On average, analysts expect that Northern Trust Corporation will post 8.27 earnings per share for the current year.

Northern Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Friday, March 6th will be given a $0.80 dividend. The ex-dividend date of this dividend is Friday, March 6th. This represents a $3.20 annualized dividend and a dividend yield of 2.2%. Northern Trust’s dividend payout ratio is presently 37.30%.

Analyst Ratings Changes

Several research firms have commented on NTRS. 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 price target for the company. Weiss Ratings restated a “buy (b-)” rating on shares of Northern Trust in a report on Wednesday, October 8th. Barclays upped their price target on shares of Northern Trust from $136.00 to $160.00 and gave the stock an “equal weight” rating in a research report on Monday, January 5th. Morgan Stanley lifted their price target on shares of Northern Trust from $127.00 to $131.00 and gave the company an “underweight” rating in a report on Wednesday, December 17th. Finally, Wells Fargo & Company upped their price objective on Northern Trust from $127.00 to $131.00 and gave the stock an “equal weight” rating in a report on Thursday, October 23rd. Four analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $136.00.

About Northern Trust

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.