Northern Trust Co. (NASDAQ:NTRS) Stock Position Lessened by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. decreased its holdings in Northern Trust Co. (NASDAQ:NTRS) by 0.1% in the 2nd quarter, HoldingsChannel reports. The firm owned 816,713 shares of the asset manager’s stock after selling 636 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Northern Trust were worth $73,504,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. FMR LLC lifted its stake in Northern Trust by 4.8% during the first quarter. FMR LLC now owns 8,605,350 shares of the asset manager’s stock worth $778,009,000 after purchasing an additional 394,338 shares during the last quarter. American Century Companies Inc. lifted its stake in Northern Trust by 27.9% during the first quarter. American Century Companies Inc. now owns 5,452,010 shares of the asset manager’s stock worth $492,916,000 after purchasing an additional 1,190,787 shares during the last quarter. Geode Capital Management LLC lifted its stake in Northern Trust by 6.3% during the fourth quarter. Geode Capital Management LLC now owns 2,953,900 shares of the asset manager’s stock worth $246,501,000 after purchasing an additional 174,874 shares during the last quarter. Champlain Investment Partners LLC lifted its stake in Northern Trust by 3.7% during the first quarter. Champlain Investment Partners LLC now owns 1,723,450 shares of the asset manager’s stock worth $155,817,000 after purchasing an additional 60,785 shares during the last quarter. Finally, Confluence Investment Management LLC lifted its stake in Northern Trust by 0.9% during the second quarter. Confluence Investment Management LLC now owns 1,215,067 shares of the asset manager’s stock worth $109,356,000 after purchasing an additional 10,921 shares during the last quarter. 78.78% of the stock is owned by institutional investors.

Several equities research analysts have weighed in on NTRS shares. Morgan Stanley upped their target price on Northern Trust from $85.00 to $91.00 and gave the stock an “underweight” rating in a research note on Thursday, July 25th. Zacks Investment Research cut Northern Trust from a “buy” rating to a “hold” rating in a research note on Friday, May 17th. BidaskClub cut Northern Trust from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Deutsche Bank cut their target price on Northern Trust from $93.00 to $91.00 and set a “hold” rating for the company in a research note on Friday. Finally, Citigroup cut Northern Trust from a “neutral” rating to a “sell” rating and cut their target price for the stock from $94.00 to $85.00 in a research note on Friday, July 12th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $105.92.

Shares of NTRS traded down $1.12 during trading hours on Friday, reaching $89.45. The stock had a trading volume of 602,198 shares, compared to its average volume of 1,248,808. Northern Trust Co. has a 12 month low of $75.96 and a 12 month high of $110.00. The company has a market cap of $19.46 billion, a PE ratio of 13.29, a PEG ratio of 1.61 and a beta of 1.16. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.64 and a quick ratio of 0.64. The stock has a 50-day moving average price of $92.13.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings results on Wednesday, July 24th. The asset manager reported $1.75 EPS for the quarter, beating the Zacks’ consensus estimate of $1.68 by $0.07. Northern Trust had a return on equity of 15.74% and a net margin of 22.20%. The company had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same period in the prior year, the company earned $1.68 EPS. Northern Trust’s revenue was down .1% compared to the same quarter last year. On average, research analysts predict that Northern Trust Co. will post 6.62 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.13%. This is a boost from Northern Trust’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Thursday, September 12th. Northern Trust’s dividend payout ratio is presently 35.66%.

In other news, EVP Robert P. Browne sold 12,156 shares of the stock in a transaction on Friday, June 14th. The stock was sold at an average price of $86.88, for a total value of $1,056,113.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Biff Bowman sold 46,204 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $92.81, for a total value of $4,288,193.24. The disclosure for this sale can be found here. Insiders sold a total of 111,567 shares of company stock valued at $10,639,832 over the last quarter. 1.15% of the stock is owned by corporate insiders.

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, Corporate & Institutional Services (C&IS) and Wealth Management.

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Institutional Ownership by Quarter for Northern Trust (NASDAQ:NTRS)

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