Wellington Management Group LLP Sells 257,645 Shares of Northern Trust Corporation $NTRS

Wellington Management Group LLP lowered its stake in Northern Trust Corporation (NASDAQ:NTRS) by 20.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 980,580 shares of the asset manager’s stock after selling 257,645 shares during the period. Wellington Management Group LLP’s holdings in Northern Trust were worth $170,464,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Keating Financial Advisory Services Inc. acquired a new position in Northern Trust during the 2nd quarter worth $31,000. Reflection Asset Management acquired a new stake in shares of Northern Trust in the 4th quarter valued at $25,000. Triumph Capital Management bought a new stake in shares of Northern Trust during the third quarter worth $25,000. Basecamp Wealth Advisors LLC lifted its stake in shares of Northern Trust by 99.0% during the first quarter. Basecamp Wealth Advisors LLC now owns 203 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 101 shares during the period. Finally, Clearstead Trust LLC acquired a new position in shares of Northern Trust during the second quarter valued at $37,000. Institutional investors own 83.19% of the company’s stock.

Northern Trust Trading Down 0.7%

NASDAQ NTRS opened at $185.56 on Tuesday. The stock has a 50-day simple moving average of $183.06 and a 200 day simple moving average of $164.87. The company has a market capitalization of $33.95 billion, a PE ratio of 15.93, a P/E/G ratio of 1.05 and a beta of 1.25. The company has a current ratio of 0.65, a quick 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 $195.78.

Northern Trust (NASDAQ:NTRS) last issued its earnings results on Wednesday, July 22nd. The asset manager reported $4.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.71 by $1.52. The firm had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.69 billion. Northern Trust had a return on equity of 16.91% and a net margin of 14.76%.The company’s revenue was up 35.1% compared to the same quarter last year. During the same quarter last year, the business earned $2.13 earnings per share. Research analysts forecast that Northern Trust Corporation will post 11.59 EPS for the current year.

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 issued a dividend of $0.88 per share. This is an increase 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%. The ex-dividend date is Friday, September 4th. Northern Trust’s dividend payout ratio is presently 27.47%.

Insider Buying and Selling at Northern Trust

In other Northern Trust news, EVP Thomas A. South sold 1,800 shares of Northern Trust stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $184.90, for a total transaction of $332,820.00. Following the transaction, the executive vice president directly owned 92,917 shares in the company, valued at approximately $17,180,353.30. The trade was a 1.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robert Edward Jr. Moritz purchased 255 shares of the stock in a transaction on Wednesday, July 29th. The stock was acquired at an average price of $179.57 per share, with a total value of $45,790.35. Following the completion of the acquisition, the director directly owned 8,400 shares of the company’s stock, valued at approximately $1,508,388. This represents a 3.13% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 0.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on NTRS shares. UBS Group set a $186.00 price objective on Northern Trust in a research report on Friday, June 26th. Barclays upped their target price on shares of Northern Trust from $176.00 to $189.00 and gave the company an “equal weight” rating in a research report on Thursday, July 23rd. Wells Fargo & Company lifted their price target 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. Weiss Ratings reissued a “buy (b)” rating on shares of Northern Trust in a research note on Friday, July 31st. Finally, Morgan Stanley increased their price objective 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. Four research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $180.68.

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.