Candriam S.C.A. Sells 33,854 Shares of Northern Trust Corporation $NTRS

Candriam S.C.A. cut its holdings in shares of Northern Trust Corporation (NASDAQ:NTRS) by 13.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 226,760 shares of the asset manager’s stock after selling 33,854 shares during the period. Candriam S.C.A.’s holdings in Northern Trust were worth $38,544,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NTRS. Uhlmann Price Securities LLC increased its stake in Northern Trust by 68.6% during the 3rd quarter. Uhlmann Price Securities LLC now owns 4,423 shares of the asset manager’s stock worth $749,000 after purchasing an additional 1,800 shares in the last quarter. Ethic Inc. lifted its position in Northern Trust by 2.4% in the 3rd quarter. Ethic Inc. now owns 59,879 shares of the asset manager’s stock valued at $10,141,000 after acquiring an additional 1,419 shares in the last quarter. StoneX Group Inc. bought a new stake in Northern Trust in the 3rd quarter valued at $280,000. Pictet Asset Management Holding SA boosted its stake in Northern Trust by 1.0% in the 3rd quarter. Pictet Asset Management Holding SA now owns 96,512 shares of the asset manager’s stock worth $16,345,000 after purchasing an additional 959 shares during the period. Finally, Formidable Asset Management LLC acquired a new position in Northern Trust in the 3rd quarter worth $348,000. 83.19% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on NTRS. Zacks Research cut Northern Trust from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 25th. Evercore cut their price target on Northern Trust from $183.00 to $179.00 in a report on Wednesday, October 28th. Weiss Ratings cut Northern Trust from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, October 23rd. Citigroup decreased their price objective on Northern Trust from $186.00 to $170.00 and set a “neutral” rating for the company in a report on Friday, October 23rd. Finally, TD Cowen assumed coverage on Northern Trust in a research report on Thursday, October 8th. They issued a “hold” rating and a $175.00 target price on the stock. Two research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $181.03.

Insider Transactions at Northern Trust

In related news, EVP Susan Levy sold 16,984 shares of Northern Trust stock in a transaction dated Friday, October 23rd. The stock was sold at an average price of $168.15, for a total value of $2,855,859.60. Following the sale, the executive vice president owned 59,378 shares of the company’s stock, valued at approximately $9,984,410.70. The trade was a 22.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert Moritz, Jr. bought 236 shares of the company’s stock in a transaction that occurred on Friday, October 30th. The shares were bought at an average price of $169.07 per share, for a total transaction of $39,900.52. Following the acquisition, the director directly owned 8,636 shares of the company’s stock, valued at $1,460,088.52. This represents a 2.81% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders sold a total of 22,706 shares of company stock worth $3,850,282 in the last three months. Insiders own 0.66% of the company’s stock.

Northern Trust Stock Performance

Shares of NTRS stock opened at $172.76 on Friday. The company’s fifty day simple moving average is $174.20 and its 200-day simple moving average is $165.98. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.43. The firm has a market cap of $31.29 billion, a PE ratio of 13.54, a P/E/G ratio of 0.88 and a beta of 1.21. Northern Trust Corporation has a 12 month low of $121.53 and a 12 month high of $195.78.

Northern Trust (NASDAQ:NTRS) last announced its earnings results on Wednesday, October 21st. The asset manager reported $3.40 EPS for the quarter, topping the consensus estimate of $2.87 by $0.53. The business had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.26 billion. Northern Trust had a net margin of 15.86% and a return on equity of 17.97%. The firm’s revenue was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.29 earnings per share. Equities research analysts expect that Northern Trust Corporation will post 12.00 EPS for the current fiscal year.

Northern Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 1st. Stockholders of record on Friday, December 4th will be paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Friday, December 4th. Northern Trust’s dividend payout ratio is currently 27.59%.

Northern Trust Company Profile

Northern Trust Corporation is a financial services company headquartered in Chicago. Founded in 1889, it provides services to institutions, corporations, governments, and individuals and families.

The company’s businesses include asset servicing, asset management, wealth management, and banking. Its services include investment management, custody and administration, fiduciary services, banking, and financial planning.

Northern Trust serves clients in the United States and internationally, with operations across multiple regions.