Verdence Capital Advisors LLC Has $658,000 Holdings in Northern Trust Corporation (NASDAQ:NTRS)

Verdence Capital Advisors LLC increased its stake in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 46.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,666 shares of the asset manager's stock after purchasing an additional 2,120 shares during the quarter. Verdence Capital Advisors LLC's holdings in Northern Trust were worth $658,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of NTRS. Colonial Trust Co SC grew its position in shares of Northern Trust by 6,400.0% during the 4th quarter. Colonial Trust Co SC now owns 260 shares of the asset manager's stock worth $27,000 after buying an additional 256 shares during the period. Continuum Advisory LLC grew its holdings in Northern Trust by 5,340.0% during the 1st quarter. Continuum Advisory LLC now owns 272 shares of the asset manager's stock worth $27,000 after acquiring an additional 267 shares during the period. Wayfinding Financial LLC bought a new stake in shares of Northern Trust during the 1st quarter valued at $35,000. Coppell Advisory Solutions LLC acquired a new position in shares of Northern Trust in the 4th quarter valued at $44,000. Finally, True Wealth Design LLC boosted its position in shares of Northern Trust by 84.0% in the 4th quarter. True Wealth Design LLC now owns 425 shares of the asset manager's stock worth $44,000 after purchasing an additional 194 shares during the last quarter. Institutional investors and hedge funds own 83.19% of the company's stock.

Analyst Upgrades and Downgrades

NTRS has been the topic of a number of recent analyst reports. Evercore ISI lifted their price target on shares of Northern Trust from $108.00 to $121.00 and gave the stock an "in-line" rating in a research report on Wednesday, July 2nd. Keefe, Bruyette & Woods cut Northern Trust from a "market perform" rating to an "underperform" rating and increased their target price for the stock from $103.00 to $120.00 in a research note on Friday, July 11th. Wells Fargo & Company dropped their price objective on shares of Northern Trust from $118.00 to $111.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 23rd. Truist Financial boosted their price objective on shares of Northern Trust from $116.00 to $126.00 and gave the company a "hold" rating in a research report on Thursday, July 3rd. Finally, Morgan Stanley lifted their price target on Northern Trust from $103.00 to $106.00 and gave the company an "underweight" rating in a research note on Tuesday, July 1st. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $114.50.

Northern Trust Stock Up 0.7%

NTRS opened at $127.93 on Friday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.57. The stock's fifty day simple moving average is $115.18 and its 200 day simple moving average is $106.21. Northern Trust Corporation has a 1-year low of $80.81 and a 1-year high of $133.00. The stock has a market cap of $24.89 billion, a PE ratio of 11.93, a price-to-earnings-growth ratio of 1.88 and a beta of 1.26.

Northern Trust (NASDAQ:NTRS - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The asset manager reported $1.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.85 by $0.05. The company had revenue of $1.95 billion during the quarter, compared to analysts' expectations of $1.95 billion. Northern Trust had a return on equity of 13.73% and a net margin of 13.93%. As a group, research analysts expect that Northern Trust Corporation will post 8.27 earnings per share for the current year.

Northern Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 6th were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, June 6th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.35%. Northern Trust's payout ratio is presently 27.99%.

Insider Activity at Northern Trust

In other Northern Trust news, insider Teresa Parker sold 6,467 shares of Northern Trust stock in a transaction on Friday, May 9th. The stock was sold at an average price of $100.62, for a total value of $650,709.54. Following the completion of the transaction, the insider directly owned 79,391 shares of the company's stock, valued at $7,988,322.42. The trade was a 7.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Clive Bellows sold 3,300 shares of the business's stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $99.95, for a total transaction of $329,835.00. Following the completion of the transaction, the executive vice president owned 28,736 shares of the company's stock, valued at $2,872,163.20. The trade was a 10.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,772 shares of company stock worth $981,069 over the last ninety days. Insiders own 0.77% of the company's stock.

Northern Trust 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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