Nuance Investments LLC Decreases Stock Holdings in Northern Trust Corporation $NTRS

Nuance Investments LLC reduced its position in shares of Northern Trust Corporation (NASDAQ:NTRS) by 63.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 140,523 shares of the asset manager’s stock after selling 244,761 shares during the period. Northern Trust accounts for approximately 1.9% of Nuance Investments LLC’s portfolio, making the stock its 18th largest position. Nuance Investments LLC owned 0.07% of Northern Trust worth $18,914,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Norges Bank purchased a new stake in Northern Trust in the 2nd quarter worth approximately $276,087,000. Primecap Management Co. CA lifted its stake in Northern Trust by 19.5% in the second quarter. Primecap Management Co. CA now owns 7,793,757 shares of the asset manager’s stock worth $988,170,000 after acquiring an additional 1,270,748 shares during the period. Marshall Wace LLP lifted its stake in Northern Trust by 2,397.3% in the second quarter. Marshall Wace LLP now owns 657,026 shares of the asset manager’s stock worth $83,304,000 after acquiring an additional 630,717 shares during the period. Rokos Capital Management LLP bought a new stake in Northern Trust in the second quarter valued at $73,888,000. Finally, LSV Asset Management increased its position in Northern Trust by 154.0% during the 2nd quarter. LSV Asset Management now owns 805,990 shares of the asset manager’s stock valued at $102,191,000 after purchasing an additional 488,690 shares during the period. 83.19% of the stock is owned by institutional investors.

Northern Trust Price Performance

NTRS opened at $152.15 on Monday. The firm has a market cap of $28.77 billion, a PE ratio of 17.41, a P/E/G ratio of 1.23 and a beta of 1.27. The stock has a 50-day moving average price of $142.32 and a 200-day moving average price of $133.61. Northern Trust Corporation has a 1 year low of $81.62 and a 1 year high of $157.60. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.69 and a quick ratio of 0.70.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings data on Friday, January 30th. The asset manager reported $2.42 earnings per share for the quarter, beating analysts’ consensus estimates of $2.37 by $0.05. The business had revenue of $3.15 billion during the quarter. Northern Trust had a net margin of 12.15% and a return on equity of 14.87%. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.26 earnings per share. Sell-side analysts predict that Northern Trust Corporation will post 8.27 earnings per share for the current fiscal year.

Northern Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 6th will be issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Friday, March 6th. Northern Trust’s payout ratio is presently 36.61%.

Analysts Set New Price Targets

NTRS has been the subject of several research analyst reports. Morgan Stanley raised their target price on shares of Northern Trust from $131.00 to $140.00 and gave the stock an “underweight” rating in a research report on Friday, January 23rd. Wells Fargo & Company raised their price objective on shares of Northern Trust from $145.00 to $150.00 and gave the stock an “equal weight” rating in a report on Friday, January 23rd. TD Cowen lifted their price objective on Northern Trust from $165.00 to $175.00 and gave the company a “buy” rating in a research report on Monday, January 26th. The Goldman Sachs Group increased their target price on Northern Trust from $130.00 to $148.00 and gave the stock a “sell” rating in a research report on Wednesday, January 28th. Finally, Wall Street Zen upgraded Northern Trust from a “sell” rating to a “hold” rating in a research report on Saturday, December 27th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $148.75.

Insiders Place Their Bets

In other Northern Trust news, Director Richard Petrino purchased 1,000 shares of the firm’s stock in a transaction dated Thursday, February 5th. The stock was purchased at an average price of $148.91 per share, for a total transaction of $148,910.00. Following the completion of the purchase, the director directly owned 3,332 shares of the company’s stock, valued at $496,168.12. This trade represents a 42.88% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Peter Cherecwich sold 25,000 shares of the stock in a transaction on Monday, January 26th. The shares were sold at an average price of $149.62, for a total value of $3,740,500.00. Following the sale, the chief operating officer directly owned 26,259 shares in the company, valued at $3,928,871.58. This trade represents a 48.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.77% of the stock is owned by corporate insiders.

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.