Confluence Investment Management LLC Sells 19,844 Shares of Northern Trust Corporation $NTRS

Confluence Investment Management LLC lessened its holdings in Northern Trust Corporation (NASDAQ:NTRS) by 2.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 660,416 shares of the asset manager’s stock after selling 19,844 shares during the period. Northern Trust accounts for about 1.8% of Confluence Investment Management LLC’s investment portfolio, making the stock its 17th biggest holding. Confluence Investment Management LLC’s holdings in Northern Trust were worth $114,807,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of NTRS. V Square Quantitative Management LLC raised its holdings in Northern Trust by 1.3% during the first quarter. V Square Quantitative Management LLC now owns 4,793 shares of the asset manager’s stock valued at $669,000 after buying an additional 61 shares in the last quarter. CWS Financial Advisors LLC boosted its stake in shares of Northern Trust by 2.0% during the 1st quarter. CWS Financial Advisors LLC now owns 3,997 shares of the asset manager’s stock worth $558,000 after acquiring an additional 77 shares in the last quarter. SJS Investment Consulting Inc. increased its holdings in shares of Northern Trust by 16.5% during the 1st quarter. SJS Investment Consulting Inc. now owns 559 shares of the asset manager’s stock valued at $78,000 after acquiring an additional 79 shares during the last quarter. Compound Planning Inc. lifted its holdings in Northern Trust by 4.7% in the 1st quarter. Compound Planning Inc. now owns 1,770 shares of the asset manager’s stock worth $247,000 after purchasing an additional 79 shares during the last quarter. Finally, Apollon Wealth Management LLC lifted its holdings in Northern Trust by 1.9% in the 4th quarter. Apollon Wealth Management LLC now owns 4,379 shares of the asset manager’s stock worth $598,000 after purchasing an additional 81 shares during the last quarter. 83.19% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on NTRS. The Goldman Sachs Group increased their price target on Northern Trust from $151.00 to $169.00 and gave the company a “neutral” rating in a report on Wednesday, April 22nd. Barclays boosted their target price on shares of Northern Trust from $176.00 to $189.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 23rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Northern Trust in a research report on Friday. Bank of America lifted their price target on Northern Trust from $190.00 to $200.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. Finally, Royal Bank Of Canada lowered Northern Trust from an “outperform” rating to a “sector perform” rating and set a $178.00 price target for the company. in a report on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $180.25.

Insider Activity at Northern Trust

In other news, Director Robert Edward Jr. Moritz bought 255 shares of Northern Trust stock in a transaction that occurred on Wednesday, July 29th. The stock was purchased at an average cost of $179.57 per share, with a total value of $45,790.35. Following the completion of the transaction, the director directly owned 8,400 shares in the company, valued at $1,508,388. This trade represents a 3.13% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.66% of the company’s stock.

Northern Trust Trading Up 0.0%

Shares of NTRS opened at $182.20 on Tuesday. The stock’s 50-day moving average price is $176.59 and its 200 day moving average price is $159.52. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $33.34 billion, a price-to-earnings ratio of 15.64, a P/E/G ratio of 1.03 and a beta of 1.25. Northern Trust Corporation has a 12-month low of $121.12 and a 12-month high of $191.60.

Northern Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 4th will be paid a $0.88 dividend. The ex-dividend date is Friday, September 4th. This is a positive change from Northern Trust’s previous quarterly dividend of $0.80. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.9%. Northern Trust’s dividend payout ratio is currently 27.47%.

Northern Trust Profile

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.