Northern Trust Corporation $NTRS Shares Sold by Benin Management CORP

Benin Management CORP trimmed its position in shares of Northern Trust Corporation (NASDAQ:NTRS) by 35.0% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,500 shares of the asset manager’s stock after selling 2,960 shares during the period. Benin Management CORP’s holdings in Northern Trust were worth $697,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in NTRS. Welch Group LLC raised its holdings in shares of Northern Trust by 2.8% in the 2nd quarter. Welch Group LLC now owns 3,153 shares of the asset manager’s stock worth $400,000 after purchasing an additional 87 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings 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 valued at $135,000 after acquiring an additional 88 shares during the period. Harbour Investments Inc. raised its holdings in shares of Northern Trust by 10.0% during the second quarter. Harbour Investments Inc. now owns 1,032 shares of the asset manager’s stock valued at $131,000 after acquiring an additional 94 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings 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 valued at $2,764,000 after acquiring an additional 95 shares during the period. Finally, OLD National Bancorp IN raised its holdings 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 valued at $905,000 after acquiring an additional 95 shares during the period. 83.19% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on NTRS. TD Cowen began coverage on shares of Northern Trust in a research note on Thursday, September 25th. They issued a “buy” rating on the stock. The Goldman Sachs Group set a $135.00 target price on shares of Northern Trust in a research report on Tuesday, September 30th. Citigroup boosted their target price on shares of Northern Trust from $110.00 to $135.00 and gave the stock a “neutral” rating in a research report on Friday, September 5th. BMO Capital Markets began coverage on shares of Northern Trust in a research report on Friday, October 3rd. They issued a “market perform” rating and a $142.00 target price for the company. Finally, Keefe, Bruyette & Woods reissued an “underperform” rating and issued a $118.00 target price (down from $120.00) on shares of Northern Trust in a research report on Thursday, July 24th. Four equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $128.23.

Northern Trust Trading Down 0.3%

Shares of NTRS stock opened at $128.52 on Wednesday. Northern Trust Corporation has a 52-week low of $81.62 and a 52-week high of $135.48. The stock has a market cap of $24.58 billion, a price-to-earnings ratio of 15.10, a P/E/G ratio of 1.44 and a beta of 1.31. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.72 and a current ratio of 0.72. The firm has a fifty day moving average of $129.67 and a 200-day moving average of $117.27.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings data on Wednesday, July 23rd. The asset manager reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $1.96 billion. During the same quarter in the prior year, the company posted $4.34 EPS. The business’s revenue was down 26.4% on a year-over-year basis. On average, equities research analysts forecast that Northern Trust Corporation will post 8.27 earnings per share for the current fiscal year.

Northern Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 1st. Investors of record on Friday, December 5th will be given a dividend of $0.80 per share. The ex-dividend date is Friday, December 5th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.5%. Northern Trust’s dividend payout ratio (DPR) is 37.60%.

Insider Activity

In other news, Director Robert Edward Jr. Moritz bought 256 shares of the company’s stock in a transaction that occurred on 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 transaction, the director directly owned 2,525 shares of the company’s stock, valued at $319,008.50. This trade represents a 11.28% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.77% of the stock is owned by company insiders.

Northern Trust Company 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.