SG Americas Securities LLC Trims Stock Position in Northern Trust Co. (NASDAQ:NTRS)

SG Americas Securities LLC cut its position in Northern Trust Co. (NASDAQ:NTRS - Free Report) by 69.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,215 shares of the asset manager's stock after selling 18,882 shares during the quarter. SG Americas Securities LLC's holdings in Northern Trust were worth $740,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP boosted its position in Northern Trust by 140.2% in the 4th quarter. Wellington Management Group LLP now owns 5,802,792 shares of the asset manager's stock valued at $489,640,000 after buying an additional 3,387,002 shares during the period. Confluence Investment Management LLC purchased a new position in Northern Trust in the first quarter valued at $105,665,000. Massachusetts Financial Services Co. MA grew its stake in Northern Trust by 13.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,413,620 shares of the asset manager's stock worth $622,596,000 after purchasing an additional 850,556 shares in the last quarter. Panagora Asset Management Inc. increased its holdings in Northern Trust by 4,660.5% during the 2nd quarter. Panagora Asset Management Inc. now owns 399,932 shares of the asset manager's stock worth $33,586,000 after purchasing an additional 391,531 shares during the period. Finally, Primecap Management Co. CA raised its position in Northern Trust by 3.9% in the 2nd quarter. Primecap Management Co. CA now owns 7,046,757 shares of the asset manager's stock valued at $591,787,000 after purchasing an additional 261,285 shares in the last quarter. Hedge funds and other institutional investors own 83.19% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. The Goldman Sachs Group cut shares of Northern Trust from a "neutral" rating to a "sell" rating and cut their price objective for the stock from $84.00 to $82.00 in a report on Thursday, September 26th. UBS Group boosted their price target on Northern Trust from $86.00 to $92.00 and gave the company a "neutral" rating in a research report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft upped their price objective on Northern Trust from $84.00 to $94.00 and gave the company a "hold" rating in a research note on Monday, September 23rd. Keefe, Bruyette & Woods lowered their target price on Northern Trust from $92.00 to $85.00 and set a "market perform" rating on the stock in a research note on Thursday, June 27th. Finally, Royal Bank of Canada upped their price target on Northern Trust from $86.00 to $90.00 and gave the stock an "outperform" rating in a research note on Thursday, July 18th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Northern Trust has an average rating of "Hold" and a consensus target price of $90.42.

Insider Buying and Selling

In related news, Director Charles A. Tribbett sold 1,855 shares of the business's stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $88.12, for a total value of $163,462.60. Following the sale, the director now directly owns 1,000 shares in the company, valued at $88,120. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Northern Trust news, EVP Teresa Parker sold 5,883 shares of the firm's stock in a transaction on Friday, August 9th. The stock was 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 approximately $7,041,285.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Charles A. Tribbett sold 1,855 shares of the business's stock in a transaction on Friday, September 13th. The stock was sold at an average price of $88.12, for a total value of $163,462.60. Following the completion of the transaction, the director now directly owns 1,000 shares of the company's stock, valued at approximately $88,120. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,738 shares of company stock valued at $1,191,388. 0.64% of the stock is owned by insiders.

Northern Trust Price Performance

Northern Trust stock traded up $1.89 during midday trading on Monday, reaching $94.06. The company's stock had a trading volume of 988,604 shares, compared to its average volume of 1,300,367. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71. Northern Trust Co. has a fifty-two week low of $62.44 and a fifty-two week high of $94.12. The firm has a market capitalization of $19.24 billion, a PE ratio of 20.35, a P/E/G ratio of 1.44 and a beta of 1.08. The stock's 50 day simple moving average is $88.42 and its 200 day simple moving average is $86.04.

Northern Trust (NASDAQ:NTRS - Get Free Report) last released its quarterly earnings data on Wednesday, July 17th. The asset manager reported $1.78 EPS for the quarter, topping analysts' consensus estimates of $1.75 by $0.03. Northern Trust had a net margin of 10.53% and a return on equity of 12.24%. The firm had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the previous year, the firm earned $1.79 earnings per share. The firm's revenue was up 53.8% on a year-over-year basis. On average, equities research analysts forecast that Northern Trust Co. will post 7.04 earnings per share for the current year.

Northern Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 6th were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 3.19%. The ex-dividend date of this dividend was Friday, September 6th. Northern Trust's payout ratio is currently 66.23%.

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.