Bank of Nova Scotia Sells 9,473 Shares of Northern Trust Co. (NASDAQ:NTRS)

Bank of Nova Scotia lowered its holdings in shares of Northern Trust Co. (NASDAQ:NTRSGet Rating) by 49.9% in the 2nd quarter, Holdings Channel.com reports. The firm owned 9,500 shares of the asset manager’s stock after selling 9,473 shares during the quarter. Bank of Nova Scotia’s holdings in Northern Trust were worth $916,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of NTRS. Trust Co. of Vermont bought a new position in Northern Trust during the second quarter valued at $33,000. LS Investment Advisors LLC purchased a new stake in shares of Northern Trust in the second quarter valued at $38,000. Clear Street Markets LLC raised its stake in shares of Northern Trust by 411.8% in the second quarter. Clear Street Markets LLC now owns 435 shares of the asset manager’s stock valued at $42,000 after acquiring an additional 350 shares during the period. Covestor Ltd raised its stake in shares of Northern Trust by 64.8% in the first quarter. Covestor Ltd now owns 496 shares of the asset manager’s stock valued at $58,000 after acquiring an additional 195 shares during the period. Finally, Cullen Frost Bankers Inc. raised its stake in shares of Northern Trust by 91.5% in the first quarter. Cullen Frost Bankers Inc. now owns 544 shares of the asset manager’s stock valued at $63,000 after acquiring an additional 260 shares during the period. Institutional investors own 83.59% of the company’s stock.

Northern Trust Trading Up 1.6 %

NASDAQ NTRS opened at $92.32 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.67 and a current ratio of 0.67. The company has a market capitalization of $19.24 billion, a price-to-earnings ratio of 12.58 and a beta of 1.06. The company’s 50-day simple moving average is $87.48 and its two-hundred day simple moving average is $95.86. Northern Trust Co. has a one year low of $76.15 and a one year high of $135.15.

Northern Trust (NASDAQ:NTRSGet Rating) last posted its earnings results on Wednesday, October 19th. The asset manager reported $1.80 EPS for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.04). The business had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.76 billion. Northern Trust had a net margin of 21.84% and a return on equity of 15.12%. The company’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same period last year, the business posted $1.80 EPS. Equities analysts forecast that Northern Trust Co. will post 7.24 EPS for the current fiscal year.

Northern Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, January 1st. Shareholders of record on Friday, December 9th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date of this dividend is Thursday, December 8th. Northern Trust’s dividend payout ratio (DPR) is 40.87%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on NTRS. Deutsche Bank Aktiengesellschaft increased their target price on shares of Northern Trust from $80.00 to $92.00 and gave the company a “hold” rating in a research note on Tuesday. Evercore ISI reduced their target price on shares of Northern Trust to $85.00 in a research note on Thursday, October 20th. Royal Bank of Canada reduced their target price on shares of Northern Trust from $110.00 to $95.00 and set an “outperform” rating on the stock in a research note on Thursday, October 20th. Morgan Stanley reduced their target price on shares of Northern Trust from $108.00 to $94.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 20th. Finally, Citigroup reduced their price target on shares of Northern Trust from $92.00 to $85.00 and set a “neutral” rating on the stock in a research note on Friday, October 21st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $104.79.

About Northern Trust

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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, Corporate & Institutional Services (C&IS) and Wealth Management.

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Institutional Ownership by Quarter for Northern Trust (NASDAQ:NTRS)

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