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Cerity Partners LLC Grows Stake in Northern Trust Corporation (NASDAQ:NTRS)

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Cerity Partners LLC boosted its holdings in Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 2.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 566,683 shares of the asset manager's stock after acquiring an additional 11,052 shares during the quarter. Cerity Partners LLC owned 0.29% of Northern Trust worth $55,903,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in NTRS. Ellevest Inc. lifted its holdings in shares of Northern Trust by 3.4% during the 4th quarter. Ellevest Inc. now owns 3,410 shares of the asset manager's stock valued at $350,000 after buying an additional 113 shares during the period. Moors & Cabot Inc. lifted its holdings in shares of Northern Trust by 4.0% during the 4th quarter. Moors & Cabot Inc. now owns 3,560 shares of the asset manager's stock valued at $365,000 after buying an additional 137 shares during the period. Steward Partners Investment Advisory LLC lifted its holdings in shares of Northern Trust by 29.8% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 597 shares of the asset manager's stock valued at $61,000 after buying an additional 137 shares during the period. Amalgamated Bank lifted its holdings in shares of Northern Trust by 0.5% during the 1st quarter. Amalgamated Bank now owns 38,065 shares of the asset manager's stock valued at $3,755,000 after buying an additional 172 shares during the period. Finally, Fifth Third Bancorp lifted its holdings in shares of Northern Trust by 1.7% during the 1st quarter. Fifth Third Bancorp now owns 10,876 shares of the asset manager's stock valued at $1,073,000 after buying an additional 179 shares during the period. 83.19% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on NTRS shares. Bank of America lowered their price target on Northern Trust from $123.00 to $121.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Royal Bank Of Canada set a $123.00 target price on Northern Trust and gave the stock an "outperform" rating in a report on Monday, June 30th. Citigroup decreased their target price on Northern Trust from $110.00 to $105.00 and set a "neutral" rating on the stock in a report on Monday, March 24th. The Goldman Sachs Group raised their target price on Northern Trust from $89.00 to $101.00 and gave the stock a "sell" rating in a report on Wednesday, July 2nd. Finally, Morgan Stanley raised their target price on Northern Trust from $103.00 to $106.00 and gave the stock an "underweight" rating in a report on Tuesday, July 1st. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Northern Trust has an average rating of "Hold" and a consensus price target of $114.50.

View Our Latest Stock Report on Northern Trust

Insider Transactions at Northern Trust

In other news, EVP Clive Bellows sold 3,300 shares of the firm's stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $99.95, for a total transaction of $329,835.00. Following the completion of the transaction, the executive vice president owned 28,736 shares in the company, valued at $2,872,163.20. This trade represents a 10.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Teresa Parker sold 6,467 shares of the firm's stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $100.62, for a total value of $650,709.54. Following the transaction, the insider owned 79,391 shares of the company's stock, valued at approximately $7,988,322.42. The trade was a 7.53% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,772 shares of company stock valued at $981,069. Company insiders own 0.77% of the company's stock.

Northern Trust Price Performance

NTRS stock traded down $0.71 during trading on Friday, reaching $125.91. The company's stock had a trading volume of 1,459,833 shares, compared to its average volume of 1,445,542. Northern Trust Corporation has a 1 year low of $80.81 and a 1 year high of $133.00. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $24.49 billion, a P/E ratio of 11.75, a price-to-earnings-growth ratio of 1.83 and a beta of 1.26. The company's fifty day moving average is $112.44 and its 200-day moving average is $105.43.

Northern Trust (NASDAQ:NTRS - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The asset manager reported $1.90 earnings per share for the quarter, beating analysts' consensus estimates of $1.85 by $0.05. The firm had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.95 billion. Northern Trust had a return on equity of 13.73% and a net margin of 13.93%. On average, research analysts expect that Northern Trust Corporation will post 8.27 earnings per share for the current fiscal year.

Northern Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 6th were given a dividend of $0.75 per share. The ex-dividend date was Friday, June 6th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.38%. Northern Trust's payout ratio is 27.99%.

About Northern Trust

(Free Report)

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.

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

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