Prana Capital Management LP Reduces Stake in Northern Trust Co. (NASDAQ:NTRS)

Prana Capital Management LP lowered its holdings in Northern Trust Co. (NASDAQ:NTRS) by 35.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 91,190 shares of the asset manager’s stock after selling 50,054 shares during the quarter. Prana Capital Management LP’s holdings in Northern Trust were worth $9,347,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Y.D. More Investments Ltd lifted its stake in shares of Northern Trust by 118.4% in the 4th quarter. Y.D. More Investments Ltd now owns 249 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 135 shares during the period. Colonial Trust Co SC lifted its stake in shares of Northern Trust by 6,400.0% in the 4th quarter. Colonial Trust Co SC now owns 260 shares of the asset manager’s stock valued at $27,000 after purchasing an additional 256 shares during the period. Empirical Asset Management LLC purchased a new position in shares of Northern Trust in the 4th quarter valued at approximately $33,000. Brooklyn Investment Group lifted its stake in shares of Northern Trust by 51.2% in the 4th quarter. Brooklyn Investment Group now owns 378 shares of the asset manager’s stock valued at $39,000 after purchasing an additional 128 shares during the period. Finally, Assetmark Inc. increased its position in Northern Trust by 528.3% during the 4th quarter. Assetmark Inc. now owns 377 shares of the asset manager’s stock valued at $39,000 after buying an additional 317 shares in the last quarter. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Northern Trust Stock Down 0.7%

Shares of NASDAQ:NTRS opened at $106.39 on Thursday. Northern Trust Co. has a 52-week low of $79.68 and a 52-week high of $114.67. The stock has a market cap of $20.70 billion, a P/E ratio of 10.88, a price-to-earnings-growth ratio of 1.72 and a beta of 1.18. The business’s 50 day moving average is $95.10 and its 200 day moving average is $102.97. The company has a quick ratio of 0.71, a current ratio of 0.68 and a debt-to-equity ratio of 0.58.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings results on Tuesday, April 22nd. The asset manager reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.05. Northern Trust had a return on equity of 13.74% and a net margin of 12.77%. The business had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.95 billion. Sell-side analysts predict that Northern Trust Co. will post 8.27 EPS for the current year.

Northern Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 6th will be paid a dividend of $0.75 per share. The ex-dividend date is Friday, June 6th. This represents a $3.00 annualized dividend and a yield of 2.82%. Northern Trust’s dividend payout ratio (DPR) is 27.99%.

Insiders Place Their Bets

In other Northern Trust news, EVP Clive Bellows sold 3,300 shares of Northern Trust stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $99.95, for a total transaction of $329,835.00. Following the completion of the sale, the executive vice president now owns 28,736 shares of the company’s stock, valued at approximately $2,872,163.20. The trade was a 10.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Thomas A. South sold 3,804 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $113.00, for a total value of $429,852.00. Following the completion of the transaction, the executive vice president now directly owns 81,794 shares of the company’s stock, valued at approximately $9,242,722. This trade represents a 4.44% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,571 shares of company stock valued at $1,410,397. 0.77% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. StockNews.com lowered Northern Trust from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Royal Bank of Canada reduced their price objective on Northern Trust from $115.00 to $105.00 and set an “outperform” rating for the company in a research report on Wednesday, April 23rd. The Goldman Sachs Group raised their price objective on Northern Trust from $92.00 to $102.00 and gave the company a “sell” rating in a research report on Friday, January 24th. Bank of America reduced their target price on Northern Trust from $123.00 to $121.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Finally, Morgan Stanley reduced their target price on Northern Trust from $136.00 to $132.00 and set an “equal weight” rating for the company in a report on Wednesday, April 2nd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $110.83.

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.