Corient Private Wealth LLC Decreases Stock Position in Northern Trust Corporation $NTRS

Corient Private Wealth LLC cut its stake in shares of Northern Trust Corporation (NASDAQ:NTRS) by 1.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 406,964 shares of the asset manager’s stock after selling 6,723 shares during the quarter. Corient Private Wealth LLC owned 0.21% of Northern Trust worth $51,599,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. FNY Investment Advisers LLC bought a new position in shares of Northern Trust in the second quarter worth approximately $25,000. AlphaCore Capital LLC boosted its position in Northern Trust by 87.4% during the 2nd quarter. AlphaCore Capital LLC now owns 208 shares of the asset manager’s stock valued at $27,000 after buying an additional 97 shares during the period. Hantz Financial Services Inc. grew its holdings in Northern Trust by 5,225.0% in the 2nd 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. Clearstead Trust LLC purchased a new position in shares of Northern Trust in the second quarter valued at about $29,000. Finally, GFG Capital LLC bought a new position in shares of Northern Trust during the second quarter valued at about $35,000. 83.19% of the stock is owned by hedge funds and other institutional investors.

Northern Trust Stock Performance

Shares of Northern Trust stock opened at $138.27 on Wednesday. Northern Trust Corporation has a 12 month low of $81.62 and a 12 month high of $140.75. The firm has a market capitalization of $26.15 billion, a P/E ratio of 16.12, a P/E/G ratio of 1.50 and a beta of 1.27. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.58. The business has a fifty day simple moving average of $129.63 and a two-hundred day simple moving average of $126.84.

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

Northern Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 1st. Stockholders of record on Friday, December 5th will be given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Friday, December 5th. Northern Trust’s payout ratio is currently 37.30%.

Analyst Ratings Changes

NTRS has been the topic of several recent analyst reports. The Goldman Sachs Group set a $135.00 target price on Northern Trust 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 note on Saturday, October 25th. Morgan Stanley raised their price target on Northern Trust from $110.00 to $131.00 and gave the stock an “underweight” rating in a research note on Monday, September 29th. Citigroup boosted their price objective on shares of Northern Trust from $110.00 to $135.00 and gave the company a “neutral” rating in a research report on Friday, September 5th. Finally, Evercore ISI upped their price objective on shares of Northern Trust from $125.00 to $135.00 and gave the stock an “in-line” rating in a report on Tuesday, September 30th. Five investment 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $132.46.

Insider Buying and Selling

In related news, Director Robert Edward Jr. Moritz purchased 3,891 shares of the stock in a transaction dated Tuesday, November 4th. The stock was purchased at an average price of $128.57 per share, with a total value of $500,265.87. Following the transaction, the director directly owned 6,686 shares in the company, valued at $859,619.02. This trade represents a 139.21% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Susan Cohen Levy sold 27,591 shares of the company’s stock in a transaction dated 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 completion of the transaction, the executive vice president 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 disclosure for this sale is available in the SEC filing. 0.77% of the stock is currently owned by company insiders.

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.