Northern Trust Corporation $NTRS Shares Sold by Canvas Wealth Advisors LLC

Canvas Wealth Advisors LLC trimmed its holdings in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 47.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,136 shares of the asset manager's stock after selling 4,694 shares during the period. Canvas Wealth Advisors LLC's holdings in Northern Trust were worth $667,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Bank of New York Mellon Corp increased its holdings in shares of Northern Trust by 47.8% in the 1st quarter. Bank of New York Mellon Corp now owns 1,810,816 shares of the asset manager's stock worth $178,637,000 after acquiring an additional 585,992 shares during the period. Invesco Ltd. increased its holdings in shares of Northern Trust by 19.3% in the 1st quarter. Invesco Ltd. now owns 3,443,599 shares of the asset manager's stock worth $339,711,000 after acquiring an additional 558,287 shares during the period. RNC Capital Management LLC acquired a new stake in shares of Northern Trust in the 1st quarter worth about $41,905,000. Nuveen LLC acquired a new stake in shares of Northern Trust in the 1st quarter worth about $41,834,000. Finally, Allianz Asset Management GmbH increased its holdings in shares of Northern Trust by 529.4% in the 1st quarter. Allianz Asset Management GmbH now owns 461,383 shares of the asset manager's stock worth $45,515,000 after acquiring an additional 388,081 shares during the period. 83.19% of the stock is owned by institutional investors and hedge funds.

Northern Trust Stock Performance

Shares of NTRS opened at $124.82 on Monday. Northern Trust Corporation has a one year low of $81.62 and a one year high of $135.48. The company has a 50-day moving average of $129.58 and a two-hundred day moving average of $116.89. The stock has a market cap of $23.87 billion, a price-to-earnings ratio of 14.67, a PEG ratio of 1.39 and a beta of 1.31. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.72 and a quick ratio of 0.72.

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 (EPS) for the quarter, topping analysts' consensus estimates of $2.08 by $0.05. The business had revenue of $2 billion during the quarter, compared to analyst estimates 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 was down 26.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.34 earnings per share. On average, equities research analysts expect that Northern Trust Corporation will post 8.27 earnings per share for the current year.

Northern Trust Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on NTRS shares. Zacks Research cut shares of Northern Trust from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 9th. TD Cowen began coverage on shares of Northern Trust in a research report on Thursday, September 25th. They issued a "buy" rating for the company. Morgan Stanley increased their target price on shares of Northern Trust from $110.00 to $131.00 and gave the company an "underweight" rating in a research report on Monday, September 29th. Barclays raised their price objective on shares of Northern Trust from $128.00 to $136.00 and gave the company an "equal weight" rating in a research report on Thursday, July 24th. Finally, Truist Financial raised their price objective on shares of Northern Trust from $132.00 to $142.00 and gave the company a "hold" rating in a research report on Thursday, October 2nd. Four analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $128.23.

Insider Activity

In related news, Director Robert Edward Jr. Moritz purchased 256 shares of Northern Trust stock in a transaction dated 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.

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