Northern Trust Corporation $NTRS Shares Acquired by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC lifted its stake in shares of Northern Trust Corporation (NASDAQ:NTRS) by 18.1% during the 2nd quarter, HoldingsChannel reports. The firm owned 16,036 shares of the asset manager’s stock after purchasing an additional 2,457 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Northern Trust were worth $2,033,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Welch Group LLC increased its position in shares of Northern Trust by 2.8% during the second quarter. Welch Group LLC now owns 3,153 shares of the asset manager’s stock worth $400,000 after acquiring an additional 87 shares during the period. MassMutual Private Wealth & Trust FSB increased its position in shares of Northern Trust by 9.0% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,062 shares of the asset manager’s stock worth $135,000 after acquiring an additional 88 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Northern Trust by 0.4% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,798 shares of the asset manager’s stock worth $2,764,000 after acquiring an additional 95 shares during the period. OLD National Bancorp IN increased its position in shares of Northern Trust by 1.3% during the second quarter. OLD National Bancorp IN now owns 7,140 shares of the asset manager’s stock worth $905,000 after acquiring an additional 95 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of Northern Trust by 0.6% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 17,814 shares of the asset manager’s stock worth $2,346,000 after acquiring an additional 105 shares during the period. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Northern Trust

In other Northern Trust news, Director Robert Edward Jr. Moritz bought 256 shares of the firm’s stock in a transaction dated Wednesday, August 13th. The stock was acquired at an average price of $126.34 per share, for a total transaction of $32,343.04. Following the completion of the purchase, the director owned 2,525 shares of the company’s stock, valued at approximately $319,008.50. This represents a 11.28% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.77% of the company’s stock.

Analyst Upgrades and Downgrades

NTRS has been the topic of several recent analyst reports. Weiss Ratings reissued a “buy (b-)” rating on shares of Northern Trust in a report on Wednesday, October 8th. Keefe, Bruyette & Woods reissued an “underperform” rating and issued a $118.00 target price (down previously from $120.00) on shares of Northern Trust in a report on Thursday, July 24th. Evercore ISI increased their target price on Northern Trust from $125.00 to $135.00 and gave the company an “in-line” rating in a report on Tuesday, September 30th. Citigroup increased their target price on Northern Trust from $110.00 to $135.00 and gave the company a “neutral” rating in a report on Friday, September 5th. Finally, TD Cowen initiated coverage on Northern Trust in a report on Thursday, September 25th. They issued a “buy” rating on the stock. Four investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Northern Trust presently has an average rating of “Hold” and an average price target of $128.23.

Northern Trust Stock Performance

NASDAQ NTRS opened at $129.88 on Thursday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.72 and a quick ratio of 0.72. Northern Trust Corporation has a 1 year low of $81.62 and a 1 year high of $135.48. The company has a market capitalization of $24.84 billion, a PE ratio of 15.26, a P/E/G ratio of 1.44 and a beta of 1.31. The company has a fifty day moving average of $129.60 and a two-hundred day moving average of $116.22.

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

Northern Trust Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Friday, September 5th were paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 2.5%. This is a positive change from Northern Trust’s previous quarterly dividend of $0.75. The ex-dividend date was Friday, September 5th. Northern Trust’s payout ratio is currently 37.60%.

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.