Thrivent Financial for Lutherans Sells 68,651 Shares of Northern Trust Corporation $NTRS

Thrivent Financial for Lutherans reduced its position in Northern Trust Corporation (NASDAQ:NTRS) by 8.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 791,404 shares of the asset manager’s stock after selling 68,651 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Northern Trust were worth $108,098,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of NTRS. Empowered Funds LLC lifted its holdings in shares of Northern Trust by 13.3% in the 1st quarter. Empowered Funds LLC now owns 20,112 shares of the asset manager’s stock worth $1,984,000 after purchasing an additional 2,363 shares in the last quarter. Woodline Partners LP lifted its holdings in shares of Northern Trust by 39.1% in the 1st quarter. Woodline Partners LP now owns 16,557 shares of the asset manager’s stock worth $1,633,000 after purchasing an additional 4,653 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Northern Trust by 79.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,350 shares of the asset manager’s stock worth $171,000 after purchasing an additional 596 shares in the last quarter. WINTON GROUP Ltd bought a new position in shares of Northern Trust in the 2nd quarter worth $267,000. Finally, Daiwa Securities Group Inc. lifted its holdings in shares of Northern Trust by 4.6% in the 2nd quarter. Daiwa Securities Group Inc. now owns 29,290 shares of the asset manager’s stock worth $3,714,000 after purchasing an additional 1,275 shares in the last quarter. 83.19% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Truist Financial raised their price objective on Northern Trust from $155.00 to $176.00 and gave the company a “hold” rating in a research note on Wednesday, April 22nd. JPMorgan Chase & Co. raised their price objective on Northern Trust from $153.50 to $170.00 and gave the company a “neutral” rating in a research note on Monday. BMO Capital Markets upgraded Northern Trust from a “market perform” rating to an “outperform” rating and set a $168.00 price objective on the stock in a research note on Monday, April 6th. Citigroup assumed coverage on Northern Trust in a research note on Monday, February 23rd. They set a “neutral” rating on the stock. Finally, Wells Fargo & Company raised their price objective on Northern Trust from $150.00 to $175.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $164.08.

Insiders Place Their Bets

In other Northern Trust news, Director Robert Edward Jr. Moritz bought 225 shares of the stock in a transaction dated Friday, May 1st. The shares were bought at an average cost of $166.41 per share, for a total transaction of $37,442.25. Following the purchase, the director directly owned 8,145 shares of the company’s stock, valued at approximately $1,355,409.45. This trade represents a 2.84% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO David W. Fox, Jr. sold 19,987 shares of Northern Trust stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $166.16, for a total value of $3,321,039.92. Following the sale, the chief financial officer owned 18,588 shares in the company, valued at $3,088,582.08. The trade was a 51.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 30,514 shares of company stock valued at $4,890,937. 0.66% of the stock is currently owned by company insiders.

Northern Trust Price Performance

Shares of NASDAQ:NTRS opened at $164.30 on Friday. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.51. The stock’s fifty day simple moving average is $150.15 and its two-hundred day simple moving average is $143.01. Northern Trust Corporation has a 1-year low of $104.09 and a 1-year high of $173.18. The stock has a market cap of $30.40 billion, a PE ratio of 17.20, a price-to-earnings-growth ratio of 1.17 and a beta of 1.27.

Northern Trust (NASDAQ:NTRS) last released its earnings results on Tuesday, April 21st. The asset manager reported $2.71 EPS for the quarter, topping analysts’ consensus estimates of $2.37 by $0.34. The company had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.13 billion. Northern Trust had a return on equity of 15.94% and a net margin of 12.84%.The business’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.90 EPS. As a group, analysts forecast that Northern Trust Corporation will post 10.68 EPS for the current fiscal year.

Northern Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 5th will be paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Friday, June 5th. Northern Trust’s payout ratio is presently 33.51%.

Northern Trust Company 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.