Northern Trust Corporation $NTRS Shares Sold by EULAV Asset Management

Key Points

• EULAV Asset Management cut its Northern Trust stake by 25.3% in the third quarter, selling 7,723 shares and retaining 22,825 shares valued at approximately $3.87 million. Institutional investors collectively own 83.19% of the company.
• Northern Trust reported quarterly EPS of $3.40, exceeding estimates of $2.87, while revenue rose 13.4% year over year to $2.29 billion. The company also declared a quarterly dividend of $0.88 per share, equivalent to a 2.1% yield.
• Analysts maintain a consensus “Hold” rating, with an average price target of $183.47; the stock recently opened at $167.92. Recent recommendations included downgrades from RBC, Zacks Research, Weiss Ratings and Citigroup.

EULAV Asset Management decreased its holdings in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 25.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,825 shares of the asset manager's stock after selling 7,723 shares during the quarter. EULAV Asset Management's holdings in Northern Trust were worth $3,866,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in NTRS. HWG Holdings LP acquired a new position in shares of Northern Trust during the 3rd quarter valued at about $4,470,000. Renaissance Technologies LLC purchased a new position in shares of Northern Trust during the 1st quarter worth about $2,303,000. Oppenheimer Asset Management Inc. purchased a new position in shares of Northern Trust during the 2nd quarter worth about $25,721,000. Bank of America Corp DE boosted its position in shares of Northern Trust by 5.6% in the first quarter. Bank of America Corp DE now owns 622,852 shares of the asset manager's stock worth $86,931,000 after acquiring an additional 33,029 shares during the last quarter. Finally, Nykredit A S acquired a new stake in shares of Northern Trust in the second quarter worth approximately $11,432,000. Institutional investors and hedge funds own 83.19% of the company's stock.

Northern Trust Stock Performance

Northern Trust stock opened at $167.92 on Monday. The company has a market cap of $30.72 billion, a price-to-earnings ratio of 13.16, a price-to-earnings-growth ratio of 0.93 and a beta of 1.24. Northern Trust Corporation has a 12 month low of $121.53 and a 12 month high of $195.78. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.61 and a quick ratio of 0.65. The stock's 50-day moving average is $177.18 and its 200-day moving average is $174.01.

Northern Trust (NASDAQ:NTRS - Get Free Report) last issued its earnings results on Wednesday, October 21st. The asset manager reported $3.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.87 by $0.53. The business had revenue of $2.29 billion during the quarter, compared to analysts' expectations of $2.26 billion. Northern Trust had a return on equity of 17.97% and a net margin of 15.86%. The company's revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.29 EPS. Equities analysts anticipate that Northern Trust Corporation will post 11.95 earnings per share for the current year.

Northern Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 1st. Shareholders of record on Friday, December 4th will be given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Friday, December 4th. Northern Trust's payout ratio is 27.59%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on NTRS. Royal Bank Of Canada downgraded shares of Northern Trust from an "outperform" rating to a "sector perform" rating and set a $178.00 target price for the company. in a report on Wednesday, July 22nd. Weiss Ratings downgraded shares of Northern Trust from a "buy (b+)" rating to a "buy (b)" rating in a research note on Friday. Zacks Research downgraded shares of Northern Trust from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 25th. Barclays lifted their price target on shares of Northern Trust from $189.00 to $194.00 and gave the company an "equal weight" rating in a report on Thursday. Finally, Citigroup lowered their price objective on shares of Northern Trust from $186.00 to $170.00 and set a "neutral" rating for the company in a research note on Friday. Three research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $183.47.

Insider Buying and Selling

In other Northern Trust news, Director Robert Moritz, Jr. purchased 255 shares of Northern Trust stock in a transaction on Wednesday, July 29th. The shares were purchased at an average cost of $179.57 per share, with a total value of $45,790.35. Following the completion of the transaction, the director directly owned 8,400 shares in the company, valued at approximately $1,508,388. This represents a 3.13% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Thomas A. South sold 1,800 shares of the business's stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $184.90, for a total transaction of $332,820.00. Following the sale, the executive vice president owned 92,917 shares of the company's stock, valued at approximately $17,180,353.30. This represents a 1.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.66% of the company's stock.

Northern Trust Profile

Northern Trust Corporation NASDAQ: NTRS is a financial services company that provides wealth management, asset servicing, asset management and banking services. The company serves institutional investors, corporations, financial institutions, high-net-worth individuals and families.

Its offerings include custody and administration of investment assets, fund accounting, securities lending, foreign exchange, treasury services, investment management, trust and estate services, private banking and wealth planning.

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