Eurizon Capital SGR S.p.A. Sells 315,123 Shares of Northern Trust Corporation $NTRS

Key Points

• Eurizon Capital SGR cut its Northern Trust stake by 42.8% in the third quarter, selling 315,123 shares. It retained 421,674 shares, worth about $71.9 million.
• Northern Trust beat quarterly earnings and revenue estimates, reporting $3.40 per share and $2.30 billion in revenue; revenue rose 13.4% year over year.
• Analysts’ consensus rating is Hold, with an average price target of $181.03. The company also declared a quarterly dividend of $0.88 per share, equivalent to a 2.0% yield.

Eurizon Capital SGR S.p.A. lessened its stake in Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 42.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 421,674 shares of the asset manager's stock after selling 315,123 shares during the period. Eurizon Capital SGR S.p.A. owned 0.23% of Northern Trust worth $71,870,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in NTRS. Maryland State Retirement & Pension System boosted its holdings in shares of Northern Trust by 6.0% in the 3rd quarter. Maryland State Retirement & Pension System now owns 10,798 shares of the asset manager's stock valued at $1,829,000 after buying an additional 613 shares in the last quarter. Jefferies Financial Group Inc. grew its position in shares of Northern Trust by 0.9% in the 3rd quarter. Jefferies Financial Group Inc. now owns 11,122 shares of the asset manager's stock worth $1,884,000 after buying an additional 96 shares during the last quarter. First Command Advisory Services Inc. grew its position in shares of Northern Trust by 345.6% in the 3rd quarter. First Command Advisory Services Inc. now owns 753 shares of the asset manager's stock worth $128,000 after buying an additional 584 shares during the last quarter. Machina Capital S.A.S. raised its stake in shares of Northern Trust by 42.7% during the 3rd quarter. Machina Capital S.A.S. now owns 26,813 shares of the asset manager's stock worth $4,541,000 after acquiring an additional 8,020 shares in the last quarter. Finally, AlphaCore Capital LLC raised its stake in shares of Northern Trust by 22.9% during the 3rd quarter. AlphaCore Capital LLC now owns 4,059 shares of the asset manager's stock worth $691,000 after acquiring an additional 756 shares in the last quarter. 83.19% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. TD Cowen initiated coverage on shares of Northern Trust in a research report on Thursday, October 8th. They set a "hold" rating and a $175.00 target price for the company. Morgan Stanley lifted their price target on shares of Northern Trust from $173.00 to $177.00 and gave the stock an "underweight" rating in a report on Thursday, October 22nd. Royal Bank Of Canada downgraded Northern Trust from an "outperform" rating to a "sector perform" rating and upped their price target for the stock from $159.00 to $178.00 in a research report on Wednesday, July 22nd. Bank of America reduced their price target on Northern Trust from $200.00 to $187.00 in a research report on Monday, October 5th. Finally, Evercore decreased their price objective on Northern Trust from $183.00 to $179.00 in a report on Wednesday, October 28th. Two investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $181.03.

Northern Trust Price Performance

Shares of NTRS stock opened at $177.67 on Friday. Northern Trust Corporation has a fifty-two week low of $121.53 and a fifty-two week high of $195.78. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.61 and a current ratio of 0.61. The firm has a market capitalization of $32.18 billion, a price-to-earnings ratio of 13.92, a PEG ratio of 0.91 and a beta of 1.21. The stock's 50-day simple moving average is $173.66 and its 200-day simple moving average is $166.56.

Northern Trust (NASDAQ:NTRS - Get Free Report) last announced its quarterly earnings data on Wednesday, October 21st. The asset manager reported $3.40 EPS for the quarter, beating the consensus estimate of $2.87 by $0.53. The firm had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.26 billion. Northern Trust had a net margin of 15.86% and a return on equity of 17.97%. Northern Trust's revenue was up 13.4% on a year-over-year basis. During the same period last year, the firm posted $2.29 EPS. As a group, equities analysts forecast that Northern Trust Corporation will post 12.06 earnings per share for the current fiscal year.

Northern Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 1st. Shareholders of record on Friday, December 4th will be paid a dividend of $0.88 per share. The ex-dividend date is Friday, December 4th. This represents a $3.52 dividend on an annualized basis and a yield of 2.0%. Northern Trust's dividend payout ratio is presently 27.59%.

Insider Buying and Selling at Northern Trust

In other news, EVP Susan Levy sold 16,984 shares of Northern Trust stock in a transaction on Friday, October 23rd. The shares were sold at an average price of $168.15, for a total transaction of $2,855,859.60. Following the completion of the sale, the executive vice president directly owned 59,378 shares in the company, valued at approximately $9,984,410.70. The trade was a 22.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Thomas South sold 1,800 shares of the business's stock in a transaction on Monday, August 24th. The shares were sold at an average price of $184.90, for a total transaction of $332,820.00. Following the sale, the executive vice president directly owned 92,917 shares in the company, valued at $17,180,353.30. This trade represents a 1.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 22,706 shares of company stock worth $3,850,282. 0.66% of the stock is owned by corporate insiders.

Northern Trust Company Profile

Northern Trust Corporation is a financial services company headquartered in Chicago. Founded in 1889, it provides services to institutions, corporations, governments, and individuals and families. The company's businesses include asset servicing, asset management, wealth management, and banking. Its services include investment management, custody and administration, fiduciary services, banking, and financial planning. Northern Trust serves clients in the United States and internationally, with operations across multiple regions.

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