Northern Trust Corporation $NTRS Shares Sold by Confluence Investment Management LLC

Confluence Investment Management LLC reduced its position in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 2.9% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 660,416 shares of the asset manager's stock after selling 19,844 shares during the quarter. Northern Trust comprises 1.8% of Confluence Investment Management LLC's portfolio, making the stock its 17th largest holding. Confluence Investment Management LLC owned about 0.36% of Northern Trust worth $114,807,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. CWM LLC lifted its position in shares of Northern Trust by 122.6% during the 4th quarter. CWM LLC now owns 48,284 shares of the asset manager's stock valued at $6,595,000 after acquiring an additional 26,594 shares during the last quarter. Concurrent Investment Advisors LLC acquired a new stake in shares of Northern Trust during the fourth quarter worth $1,959,000. Northwestern Mutual Wealth Management Co. raised its position in shares of Northern Trust by 1,838.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 180,034 shares of the asset manager's stock worth $22,793,000 after purchasing an additional 170,745 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Northern Trust by 5.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,894,755 shares of the asset manager's stock valued at $395,395,000 after purchasing an additional 161,826 shares during the last quarter. Finally, PFA Pension Forsikringsaktieselskab purchased a new stake in shares of Northern Trust during the fourth quarter valued at $67,126,000. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Robert Edward Jr. Moritz bought 255 shares of the company's stock in a transaction on Wednesday, July 29th. The shares were bought at an average cost of $179.57 per share, with a total value of $45,790.35. Following the transaction, the director directly owned 8,400 shares in the company, valued at approximately $1,508,388. This trade represents a 3.13% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.66% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on NTRS shares. Keefe, Bruyette & Woods lifted their price target on Northern Trust from $157.00 to $175.00 and gave the stock an "underperform" rating in a research note on Thursday, July 9th. Wells Fargo & Company lifted their target price on shares of Northern Trust from $189.00 to $194.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 23rd. Morgan Stanley boosted their price target on shares of Northern Trust from $170.00 to $173.00 and gave the company an "underweight" rating in a report on Thursday, July 23rd. Citigroup increased their target price on Northern Trust from $162.00 to $172.00 and gave the company a "neutral" rating in a report on Tuesday, June 30th. Finally, UBS Group set a $186.00 price target on Northern Trust in a report on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Northern Trust presently has an average rating of "Hold" and an average price target of $180.25.

Northern Trust Trading Up 0.0%

Shares of NASDAQ:NTRS opened at $182.20 on Tuesday. The firm has a fifty day moving average of $176.59 and a two-hundred day moving average of $159.52. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.43. Northern Trust Corporation has a 12-month low of $121.12 and a 12-month high of $191.60. The firm has a market capitalization of $33.34 billion, a P/E ratio of 15.64, a price-to-earnings-growth ratio of 1.03 and a beta of 1.25.

Northern Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 4th will be given a dividend of $0.88 per share. The ex-dividend date of this dividend is Friday, September 4th. This is a positive change from Northern Trust's previous quarterly dividend of $0.80. This represents a $3.52 dividend on an annualized basis and a yield of 1.9%. Northern Trust's payout ratio is 27.47%.

Northern Trust Profile

Northern Trust Corporation NASDAQ: NTRS is a global financial services firm headquartered in Chicago that provides asset servicing, asset management and wealth management solutions to institutions, corporations and high-net-worth individuals. The company's core businesses include custody and fund administration, investment operations outsourcing, trust and fiduciary services, private banking, and retirement and defined contribution plan services.

Northern Trust's product and service offerings span custody and fund accounting, portfolio and performance analytics, securities lending, cash management and foreign exchange, as well as discretionary and non-discretionary investment management.

Want to see what other hedge funds are holding NTRS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Northern Trust Corporation (NASDAQ:NTRS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.