Northern Trust Corporation $NTRS Shares Sold by Van Strum & Towne Inc.

Key Points

• Van Strum & Towne Inc. reduced its stake in Northern Trust Corporation by 52.3% in Q2, now holding 2,050 shares valued at $260,000.
• Analysts have recently increased their price targets for Northern Trust, with Citigroup raising it from $110 to $135, while the consensus rating remains a "Hold" at an average price target of $128.23.
• Northern Trust has announced a quarterly dividend increase from $0.75 to $0.80, representing an annualized dividend yield of 2.6%.

Van Strum & Towne Inc. reduced its stake in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 52.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,050 shares of the asset manager's stock after selling 2,250 shares during the period. Van Strum & Towne Inc.'s holdings in Northern Trust were worth $260,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of NTRS. Continuum Advisory LLC grew its stake in Northern Trust by 5,340.0% in the first quarter. Continuum Advisory LLC now owns 272 shares of the asset manager's stock worth $27,000 after purchasing an additional 267 shares in the last quarter. Zions Bancorporation National Association UT acquired a new position in shares of Northern Trust in the 1st quarter worth approximately $29,000. Wayfinding Financial LLC acquired a new position in shares of Northern Trust in the 1st quarter worth approximately $35,000. GFG Capital LLC acquired a new position in shares of Northern Trust in the 2nd quarter worth approximately $35,000. Finally, Harbor Investment Advisory LLC boosted its holdings in Northern Trust by 68.4% in the second quarter. Harbor Investment Advisory LLC now owns 320 shares of the asset manager's stock worth $41,000 after purchasing an additional 130 shares during the period. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NTRS has been the subject of a number of research reports. Citigroup lifted their price objective on shares of Northern Trust from $110.00 to $135.00 and gave the stock a "neutral" rating in a report on Friday, September 5th. Barclays lifted their price target on shares of Northern Trust from $128.00 to $136.00 and gave the company an "equal weight" rating in a report on Thursday, July 24th. Morgan Stanley lifted their target price on Northern Trust from $110.00 to $131.00 and gave the company an "underweight" rating in a research note on Monday, September 29th. The Goldman Sachs Group set a $135.00 target price on Northern Trust in a research note on Tuesday, September 30th. Finally, Evercore ISI lifted their target price on Northern Trust from $125.00 to $135.00 and gave the company an "in-line" rating in a research note on Tuesday, September 30th. Four analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Northern Trust has a consensus rating of "Hold" and an average price target of $128.23.

Insiders Place Their Bets

In related news, Director Robert Edward Jr. Moritz acquired 256 shares of Northern Trust stock in a transaction that occurred on Wednesday, August 13th. The stock was acquired at an average price of $126.34 per share, with a total value of $32,343.04. Following the completion of the acquisition, 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 position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.77% of the stock is owned by insiders.

Northern Trust Trading Down 4.1%

Northern Trust stock opened at $124.72 on Friday. 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 firm has a 50-day moving average price of $129.46 and a two-hundred day moving average price of $115.62. The firm has a market capitalization of $23.85 billion, a price-to-earnings ratio of 14.66, a PEG ratio of 1.45 and a beta of 1.31. 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 issued its quarterly earnings data on Wednesday, July 23rd. The asset manager reported $2.13 earnings per share (EPS) 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 return on equity of 14.06% and a net margin of 11.75%.The business's revenue 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. Sell-side 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 disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Friday, September 5th were issued a $0.80 dividend. The ex-dividend date of this dividend was Friday, September 5th. This is an increase from Northern Trust's previous quarterly dividend of $0.75. This represents a $3.20 annualized dividend and a yield of 2.6%. Northern Trust's dividend payout ratio is currently 37.60%.

About Northern Trust

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.

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 and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.