Mn Services Vermogensbeheer BV reduces shares in Northern Trust Co. (NASDAQ:NTRS)

Mn Services Vermogensbeheer BV reduced its position in Northern Trust Co. (NASDAQ:NTRS – Free Report) by 2.9% during the second quarter, HoldingsChannel.com reports. The firm owned 81,298 shares of the asset manager’s stock after selling 2,400 shares during the period. Mn Services Vermogensbeheer BV’s holdings in Northern Trust were worth $6,827,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in NTRS. Bayesian Capital Management LP boosted its stake in Northern Trust by 986.3% in the fourth quarter. Bayesian Capital Management LP now owns 37,900 shares of the asset manager’s stock valued at $3,198,000 after buying an additional 34,411 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in shares of Northern Trust by 6.8% in the first quarter. CANADA LIFE ASSURANCE Co now owns 360,640 shares of the asset manager’s stock valued at $32,111,000 after purchasing an additional 23,020 shares in the last quarter. Sequoia Financial Advisors LLC grew its position in shares of Northern Trust by 557.8% in the first quarter. Sequoia Financial Advisors LLC now owns 30,813 shares of the asset manager’s stock valued at $2,740,000 after acquiring an additional 26,129 shares during the last quarter. Bessemer Group Inc. boosted its holdings in Northern Trust by 668.0% in the first quarter. Bessemer Group Inc. now owns 20,205 shares of the asset manager’s stock worth $1,797,000 after acquiring an additional 17,574 shares during the period. Finally, AIA Group Ltd grew its holdings in Northern Trust by 4.3% in the first quarter. AIA Group Ltd now owns 602,785 shares of the asset manager’s stock worth $53,600,000 after acquiring an additional 24,791 shares during the period. 83.19% of shares are held by institutional investors.

Changes in Analyst Ratings

Several equities research analysts recently issued reports on NTRS shares. Morgan Stanley cut their price target on Northern Trust from $97.00 to $93.00 and set an “underweight” rating for the company in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Northern Trust from $85.00 to $84.00 and set a “hold” rating for the company in a report on Thursday, August 15th. Royal Bank of Canada boosted their price target on shares of Northern Trust from $86.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. Goldman Sachs Group cut their price target on shares of Northern Trust from $94.00 to $84.00 and set a “neutral” rating for the company in a research note on Tuesday, July 2nd. Finally, Keefe, Bruyette & Woods cut their price target on shares of Northern Trust from $92.00 to $85.00 and set a “market perform” rating on the stock in a report on Thursday , June 27. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat , Northern Trust has an average rating of “Hold” and an average target price of $88.75.

Get the latest stock analysis on Northern Trust

Insider trading at Northern Trust

In related news, EVP Teresa Parker sold 5,883 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $84.06, for a total transaction of $494,524.98. Following the completion of the transaction, the executive vice president now owns 83,765 shares of the company’s stock, valued at $7,041,285.90. The sale was disclosed in a filing with the SEC, which is available via this hyperlink. Insiders own 0.64% of the company’s shares.

Shares in Northern Trust rose 1.7%

Shares of Northern Trust stock opened at $88.70 on Monday. The firm has a market cap of $18.15 billion, a price-to-earnings ratio of 19.58, a P/E/G ratio of 1.29 and a beta of 1.10. The firm has a 50-day simple moving average of $85.33 and a 200-day simple moving average of $84.09. Northern Trust Co. has a 1 year low of $62.44 and a 1 year high of $92.46. The company has a current ratio of 0.71, a quick ratio of 0.71, and a debt-to-equity ratio of 0.58.

Northern Trust (NASDAQ:NTRS – Get Free Report ) last announced its quarterly earnings results on Wednesday, July 17th. The asset manager reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.03. The company had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $1.84 billion. Northern Trust had a return on equity of 12.24% and a net margin of 10.53%. The company’s quarterly revenue was up 53.8% compared to the same quarter last year. In the same period last year, the company earned $1.79 per share. On average, analysts predict that Northern Trust Co. will post 7.02 earnings per share for the current year.

Northern Trust announces dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th will be paid a dividend of $0.75 per share. This represents an annualized dividend of $3.00 and a dividend yield of 3.38%. The ex-dividend date is Friday, September 6. Northern Trust’s dividend payout ratio is currently 66.23%.

Northern Trust Profile

(Free report)

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 provides asset maintenance and related services, including custody, fund administration, investment operations outsourcing, investment management, investment analysis and risk services, employee benefit services, securities lending, foreign exchange , treasury management, brokerage services, transition management services, banking and cash management services.

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