Cwm LLC Sells 2,302 Shares of Northern Trust Corporation $NTRS

Key Points

• Cwm LLC has reduced its stake in Northern Trust Corporation by 14.8%, selling 2,302 shares and leaving it with 13,238 shares valued at approximately $1.68 million.
• Northern Trust recently declared a quarterly dividend of $0.80, up from the previous $0.75, resulting in an annualized payout of $3.20 and a dividend yield of 2.6%.
• The company's recent earnings report revealed earnings per share of $2.13, surpassing estimates, despite a revenue decrease of 26.4% year-over-year.

Cwm LLC trimmed its position in Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 14.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,238 shares of the asset manager's stock after selling 2,302 shares during the period. Cwm LLC's holdings in Northern Trust were worth $1,678,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB boosted its holdings in Northern Trust by 9.0% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,062 shares of the asset manager's stock valued at $135,000 after purchasing an additional 88 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Northern Trust by 0.4% in the 2nd 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 purchasing an additional 95 shares during the period. OLD National Bancorp IN boosted its holdings in Northern Trust by 1.3% in the 2nd quarter. OLD National Bancorp IN now owns 7,140 shares of the asset manager's stock valued at $905,000 after purchasing an additional 95 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in Northern Trust by 0.6% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 17,814 shares of the asset manager's stock valued at $2,346,000 after purchasing an additional 105 shares during the period. Finally, Mather Group LLC. boosted its holdings in Northern Trust by 3.1% in the 2nd quarter. Mather Group LLC. now owns 3,532 shares of the asset manager's stock valued at $448,000 after purchasing an additional 106 shares during the period. 83.19% of the stock is owned by institutional investors.

Northern Trust Price Performance

Shares of NASDAQ:NTRS opened at $124.82 on Monday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.58. The stock has a market cap of $23.87 billion, a PE ratio of 14.67, a PEG ratio of 1.39 and a beta of 1.31. The company's fifty day moving average is $129.58 and its 200 day moving average is $116.89. Northern Trust Corporation has a 52 week low of $81.62 and a 52 week high of $135.48.

Northern Trust (NASDAQ:NTRS - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The asset manager reported $2.13 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.05. The business had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.96 billion. Northern Trust had a net margin of 11.75% and a return on equity of 14.06%. The firm's revenue for the quarter was down 26.4% on a year-over-year basis. During the same period in the previous year, the firm posted $4.34 earnings per share. Research analysts anticipate that Northern Trust Corporation will post 8.27 earnings per share for the current year.

Northern Trust Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Friday, September 5th were paid a $0.80 dividend. This is a boost from Northern Trust's previous quarterly dividend of $0.75. This represents a $3.20 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Friday, September 5th. Northern Trust's payout ratio is presently 37.60%.

Wall Street Analyst Weigh In

Several brokerages have commented on NTRS. Morgan Stanley raised their price target on shares of Northern Trust from $110.00 to $131.00 and gave the company an "underweight" rating in a report on Monday, September 29th. Barclays lifted their price objective on shares of Northern Trust from $128.00 to $136.00 and gave the stock an "equal weight" rating in a report on Thursday, July 24th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Northern Trust in a report on Wednesday, October 8th. Wall Street Zen raised shares of Northern Trust from a "sell" rating to a "hold" rating in a report on Friday, September 26th. Finally, Royal Bank Of Canada set a $123.00 price objective on shares of Northern Trust and gave the stock an "outperform" rating in a report on Monday, June 30th. Four research 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's stock. According to MarketBeat.com, Northern Trust presently has an average rating of "Hold" and a consensus target price of $128.23.

Insiders Place Their Bets

In other Northern Trust news, Director Robert Edward Jr. Moritz purchased 256 shares of the stock in a transaction on Wednesday, August 13th. The stock was acquired at an average cost of $126.34 per share, with a total value of $32,343.04. Following the completion of the purchase, the director directly owned 2,525 shares of the company's stock, valued at approximately $319,008.50. This trade represents a 11.28% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.77% of the stock is owned by corporate insiders.

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.

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