Sanibel Captiva Trust Company Inc. Buys 207 Shares of Northern Trust Co. (NASDAQ:NTRS)

Sanibel Captiva Trust Company Inc. lifted its stake in Northern Trust Co. (NASDAQ:NTRS) by 7.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,998 shares of the asset manager’s stock after purchasing an additional 207 shares during the period. Sanibel Captiva Trust Company Inc.’s holdings in Northern Trust were worth $267,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in NTRS. Spartan Planning & Wealth Management raised its stake in Northern Trust by 10,566.7% during the 4th quarter. Spartan Planning & Wealth Management now owns 320 shares of the asset manager’s stock worth $27,000 after buying an additional 317 shares during the period. Allworth Financial LP raised its stake in Northern Trust by 94.1% during the 4th quarter. Allworth Financial LP now owns 359 shares of the asset manager’s stock worth $30,000 after buying an additional 174 shares during the period. Friedenthal Financial acquired a new stake in Northern Trust during the 4th quarter worth $45,000. Tributary Capital Management LLC acquired a new stake in Northern Trust during the 1st quarter worth $53,000. Finally, TFC Financial Management Inc. raised its stake in Northern Trust by 1,650.0% during the 4th quarter. TFC Financial Management Inc. now owns 630 shares of the asset manager’s stock worth $53,000 after buying an additional 594 shares during the period. 83.19% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Peter Cherecwich sold 12,000 shares of Northern Trust stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $87.09, for a total transaction of $1,045,080.00. Following the completion of the transaction, the insider now owns 31,471 shares in the company, valued at $2,740,809.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.64% of the stock is currently owned by corporate insiders.

Northern Trust Price Performance

NASDAQ:NTRS opened at $84.89 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71. The stock’s 50-day simple moving average is $84.60 and its 200 day simple moving average is $83.59. The company has a market cap of $17.37 billion, a P/E ratio of 18.74, a P/E/G ratio of 1.29 and a beta of 1.10. Northern Trust Co. has a 52-week low of $62.44 and a 52-week high of $92.46.

Northern Trust (NASDAQ:NTRS) last released its earnings results on Wednesday, July 17th. The asset manager reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.03. Northern Trust had a return on equity of 12.24% and a net margin of 10.53%. The business 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 business earned $1.79 earnings per share. Northern Trust’s quarterly revenue was up 53.8% on a year-over-year basis. As a group, sell-side analysts forecast that Northern Trust Co. will post 7.02 EPS for the current fiscal year.

Northern Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 6th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date of this dividend is Friday, September 6th. Northern Trust’s payout ratio is currently 66.23%.

Analyst Ratings Changes

Several research firms have issued reports on NTRS. Jefferies Financial Group lifted their price target on Northern Trust from $101.00 to $103.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Royal Bank of Canada lifted their price target on Northern Trust from $86.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. The Goldman Sachs Group dropped their price target on Northern Trust from $94.00 to $84.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 2nd. Morgan Stanley dropped their price target on Northern Trust from $97.00 to $93.00 and set an “underweight” rating on the stock in a research note on Tuesday. Finally, Keefe, Bruyette & Woods dropped their price target 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. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $87.33.

Northern Trust Company 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.