81,926 Northern Trust Corporation $NTRS Shares Sold by Curated Wealth Partners LLC

Key Points

• Curated Wealth Partners LLC cut its Northern Trust stake by 95.5% in the third quarter, selling 81,926 shares and retaining 3,874 shares valued at approximately $656,000.
• Northern Trust reported quarterly EPS of $4.23, exceeding analyst expectations of $2.71, while revenue rose 35.1% year over year to $2.71 billion.
• The company increased its quarterly dividend to $0.88 per share, representing an annualized dividend of $3.52 and a yield of about 2.1%; analysts collectively maintain a “Hold” rating with a consensus price target of $183.93.

Curated Wealth Partners LLC trimmed its stake in Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 95.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,874 shares of the asset manager's stock after selling 81,926 shares during the quarter. Curated Wealth Partners LLC's holdings in Northern Trust were worth $656,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of NTRS. Reflection Asset Management purchased a new stake in Northern Trust in the 4th quarter worth about $25,000. Continuum Advisory LLC purchased a new stake in Northern Trust during the 2nd quarter worth about $26,000. Basecamp Wealth Advisors LLC boosted its stake in Northern Trust by 99.0% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 203 shares of the asset manager's stock worth $28,000 after purchasing an additional 101 shares during the period. NBH Bank purchased a new stake in shares of Northern Trust in the second quarter worth about $30,000. Finally, Keating Financial Advisory Services Inc. purchased a new position in Northern Trust during the second quarter valued at approximately $31,000. Institutional investors own 83.19% of the company's stock.

Northern Trust Price Performance

Shares of NTRS stock opened at $165.44 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.65 and a current ratio of 0.65. The firm has a market cap of $30.27 billion, a P/E ratio of 15.26, a P/E/G ratio of 0.92 and a beta of 1.24. The business's 50 day moving average price is $179.94 and its 200-day moving average price is $172.95. Northern Trust Corporation has a fifty-two week low of $121.12 and a fifty-two week high of $195.78.

Northern Trust (NASDAQ:NTRS - Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The asset manager reported $4.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.71 by $1.52. The company had revenue of $2.71 billion for the quarter, compared to analysts' expectations of $2.69 billion. Northern Trust had a net margin of 14.76% and a return on equity of 16.91%. Northern Trust's quarterly revenue was up 35.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.13 earnings per share. On average, equities research analysts anticipate that Northern Trust Corporation will post 11.65 earnings per share for the current year.

Northern Trust Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Friday, September 4th were given a dividend of $0.88 per share. This is an increase from Northern Trust's previous quarterly dividend of $0.80. The ex-dividend date of this dividend was Friday, September 4th. This represents a $3.52 dividend on an annualized basis and a yield of 2.1%. Northern Trust's dividend payout ratio is 30.21%.

Insider Buying and Selling

In related news, EVP Thomas A. South sold 1,800 shares of the firm's stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $184.90, for a total transaction of $332,820.00. Following the completion of the transaction, the executive vice president owned 92,917 shares of the company's stock, valued at $17,180,353.30. This trade represents a 1.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert Moritz, Jr. purchased 255 shares of the stock in a transaction dated Wednesday, July 29th. The stock was bought at an average cost of $179.57 per share, with a total value of $45,790.35. Following the transaction, the director owned 8,400 shares in the company, valued at $1,508,388. The trade was a 3.13% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.66% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on NTRS shares. BMO Capital Markets dropped their price objective on Northern Trust from $208.00 to $190.00 and set an "outperform" rating for the company in a research note on Tuesday, October 6th. Truist Financial lifted their price target on Northern Trust from $176.00 to $186.00 and gave the stock a "hold" rating in a research note on Friday, June 26th. Barclays raised their price objective on Northern Trust from $176.00 to $189.00 and gave the company an "equal weight" rating in a report on Thursday, July 23rd. Bank of America increased their price target on shares of Northern Trust from $190.00 to $200.00 and gave the company a "buy" rating in a research report on Tuesday, July 7th. Finally, Wells Fargo & Company upped their price objective on shares of Northern Trust from $189.00 to $194.00 and gave the company an "equal weight" rating in a research note on Thursday, July 23rd. Three research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $183.93.

Northern Trust Profile

Northern Trust Corporation is a financial services company headquartered in Chicago, Illinois. Founded in 1889, the company provides wealth management, asset servicing, asset management and banking services to corporations, institutions, affluent individuals and families, and financial professionals.

Through its wealth management business, Northern Trust offers investment management, financial planning, trust and estate services, private banking, and family office solutions. Its asset servicing and banking operations support institutional investors and businesses with custody, fund administration, securities lending, foreign exchange, treasury services, capital markets, and related banking solutions.

Northern Trust serves clients through operations in the United States and international markets, including Canada, Europe, the Middle East and the Asia-Pacific region.

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