Northern Trust Corp Cuts Holdings in Northern Trust (NTRS)

Northern Trust Corp lessened its holdings in shares of Northern Trust (NASDAQ:NTRS) by 8.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,753,874 shares of the asset manager’s stock after selling 602,499 shares during the quarter. Northern Trust Corp owned about 3.00% of Northern Trust worth $696,527,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Field & Main Bank bought a new position in shares of Northern Trust in the fourth quarter valued at approximately $100,000. Signaturefd LLC bought a new position in shares of Northern Trust in the first quarter valued at approximately $102,000. Whittier Trust Co. of Nevada Inc. purchased a new stake in Northern Trust in the first quarter valued at approximately $103,000. Truewealth LLC purchased a new stake in Northern Trust in the fourth quarter valued at approximately $110,000. Finally, Cerebellum GP LLC purchased a new stake in Northern Trust in the fourth quarter valued at approximately $132,000. Hedge funds and other institutional investors own 78.27% of the company’s stock.

A number of equities research analysts recently weighed in on the stock. Credit Suisse Group raised their target price on shares of Northern Trust from $103.00 to $107.00 and gave the company a “neutral” rating in a research note on Wednesday, April 18th. Royal Bank of Canada reaffirmed a “buy” rating on shares of Northern Trust in a research note on Wednesday, April 18th. Zacks Investment Research raised shares of Northern Trust from a “hold” rating to a “strong-buy” rating and set a $122.00 target price on the stock in a research note on Friday, April 20th. Deutsche Bank raised their target price on shares of Northern Trust from $109.00 to $111.00 and gave the company a “hold” rating in a research note on Friday, April 6th. Finally, Sandler O’Neill reaffirmed a “hold” rating on shares of Northern Trust in a research note on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $110.75.

In related news, Vice Chairman William L. Morrison sold 46,053 shares of Northern Trust stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $109.18, for a total value of $5,028,066.54. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Biff Bowman sold 13,811 shares of Northern Trust stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $108.53, for a total transaction of $1,498,907.83. The disclosure for this sale can be found here. In the last quarter, insiders sold 118,281 shares of company stock worth $12,768,827. 1.04% of the stock is currently owned by company insiders.

Shares of Northern Trust stock opened at $107.82 on Monday. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.34. Northern Trust has a 52-week low of $85.69 and a 52-week high of $110.81. The company has a market capitalization of $24.26 billion, a PE ratio of 20.19, a PEG ratio of 1.42 and a beta of 0.95.

Northern Trust (NASDAQ:NTRS) last issued its earnings results on Tuesday, April 17th. The asset manager reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.16. Northern Trust had a net margin of 21.84% and a return on equity of 13.88%. The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.45 billion. During the same quarter last year, the business earned $1.09 earnings per share. The business’s revenue was up 14.8% on a year-over-year basis. analysts predict that Northern Trust will post 6.5 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Sunday, July 1st. Investors of record on Friday, June 8th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 1.56%. The ex-dividend date is Thursday, June 7th. Northern Trust’s dividend payout ratio (DPR) is currently 34.78%.

Northern Trust Profile

Northern Trust Corporation, a financial holding company, provides asset servicing, fund administration, asset management, fiduciary, and banking solutions for corporations, institutions, families, and individuals worldwide. It operates through Corporate & Institutional Services (C&IS) and Wealth Management segments.

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

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