Focus Partners Wealth Sells 2,685 Shares of Northern Trust Corporation $NTRS

Focus Partners Wealth lessened its holdings in Northern Trust Corporation (NASDAQ:NTRS) by 12.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,582 shares of the asset manager’s stock after selling 2,685 shares during the period. Focus Partners Wealth’s holdings in Northern Trust were worth $1,833,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Continuum Advisory LLC increased its position in Northern Trust by 5,340.0% during the 1st quarter. Continuum Advisory LLC now owns 272 shares of the asset manager’s stock worth $27,000 after buying an additional 267 shares during the period. Zions Bancorporation National Association UT acquired a new stake in shares of Northern Trust during the first quarter valued at about $29,000. Wayfinding Financial LLC bought a new position in shares of Northern Trust during the first quarter worth about $35,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Northern Trust during the first quarter worth about $43,000. Finally, Assetmark Inc. increased its holdings in Northern Trust by 54.9% in the first quarter. Assetmark Inc. now owns 584 shares of the asset manager’s stock worth $58,000 after purchasing an additional 207 shares in the last quarter. Institutional investors own 83.19% of the company’s stock.

Insider Activity at Northern Trust

In other news, Director Robert Edward Jr. Moritz bought 256 shares of the stock in a transaction dated Wednesday, August 13th. The stock was bought at an average price of $126.34 per share, for a total transaction of $32,343.04. Following the purchase, the director directly owned 2,525 shares in the company, valued at $319,008.50. This trade represents a 11.28% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.77% of the stock is currently owned by insiders.

Northern Trust Price Performance

NTRS opened at $129.25 on Wednesday. Northern Trust Corporation has a 1 year low of $81.62 and a 1 year high of $133.00. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.72 and a quick ratio of 0.72. The stock’s 50 day simple moving average is $128.05 and its 200 day simple moving average is $111.91. The firm has a market cap of $24.72 billion, a price-to-earnings ratio of 15.19, a PEG ratio of 1.55 and a beta of 1.30.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings data on Wednesday, July 23rd. The asset manager reported $2.13 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.05. Northern Trust had a return on equity of 14.06% and a net margin of 11.75%.The business had revenue of $2 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same quarter last year, the business posted $4.34 EPS. The business’s revenue was down 26.4% on a year-over-year basis. As a group, analysts predict that Northern Trust Corporation will post 8.27 earnings per share for the current year.

Northern Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 5th will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Friday, September 5th. This is a boost from Northern Trust’s previous quarterly dividend of $0.75. Northern Trust’s dividend payout ratio (DPR) is 37.60%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Royal Bank Of Canada set a $123.00 price objective on Northern Trust and gave the company an “outperform” rating in a report on Monday, June 30th. Wall Street Zen cut Northern Trust from a “hold” rating to a “sell” rating in a research note on Saturday, August 16th. The Goldman Sachs Group boosted their price objective on Northern Trust from $89.00 to $101.00 and gave the company a “sell” rating in a research note on Wednesday, July 2nd. Truist Financial upped their target price on Northern Trust from $128.00 to $132.00 and gave the stock a “hold” rating in a research note on Thursday, August 14th. Finally, Morgan Stanley upped their price objective on Northern Trust from $103.00 to $106.00 and gave the stock an “underweight” rating in a report on Tuesday, July 1st. Two equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, Northern Trust currently has a consensus rating of “Reduce” and a consensus price target of $119.58.

About Northern Trust

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.