Wealthfront Advisers LLC Sells 5,897 Shares of Northern Trust Corporation $NTRS

Wealthfront Advisers LLC lowered its position in Northern Trust Corporation (NASDAQ:NTRS) by 25.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 17,007 shares of the asset manager’s stock after selling 5,897 shares during the period. Wealthfront Advisers LLC’s holdings in Northern Trust were worth $2,323,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of NTRS. Triumph Capital Management bought a new position in Northern Trust in the 3rd quarter worth $25,000. Board of the Pension Protection Fund bought a new position in Northern Trust in the 4th quarter worth $27,000. Olistico Wealth LLC bought a new position in Northern Trust in the 4th quarter worth $41,000. True Wealth Design LLC boosted its holdings in Northern Trust by 98.7% in the 4th quarter. True Wealth Design LLC now owns 314 shares of the asset manager’s stock worth $43,000 after buying an additional 156 shares during the period. Finally, Torren Management LLC bought a new position in Northern Trust in the 4th quarter worth $46,000. Institutional investors own 83.19% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Truist Financial boosted their price target on shares of Northern Trust from $155.00 to $176.00 and gave the stock a “hold” rating in a research note on Wednesday, April 22nd. Evercore boosted their price target on shares of Northern Trust from $142.00 to $155.00 and gave the stock an “in-line” rating in a research note on Friday, January 23rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Northern Trust in a research note on Thursday, January 22nd. Zacks Research cut shares of Northern Trust from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 10th. Finally, Wells Fargo & Company boosted their price target on shares of Northern Trust from $150.00 to $175.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 22nd. Four analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Northern Trust presently has an average rating of “Hold” and an average price target of $163.55.

Insider Transactions at Northern Trust

In other news, insider Guy Gibson sold 3,009 shares of the business’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $142.39, for a total value of $428,451.51. Following the sale, the insider directly owned 29,332 shares in the company, valued at $4,176,583.48. The trade was a 9.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Richard Petrino bought 1,000 shares of Northern Trust stock in a transaction dated Thursday, February 5th. The stock was acquired at an average price of $148.91 per share, for a total transaction of $148,910.00. Following the completion of the acquisition, the director owned 3,332 shares in the company, valued at approximately $496,168.12. The trade was a 42.88% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders sold 32,705 shares of company stock worth $5,211,464. 0.66% of the stock is currently owned by corporate insiders.

Northern Trust Stock Down 1.1%

Shares of NTRS stock opened at $164.48 on Friday. The company’s fifty day simple moving average is $147.24 and its two-hundred day simple moving average is $140.93. Northern Trust Corporation has a 52 week low of $95.88 and a 52 week high of $173.18. The company has a quick ratio of 0.69, a current ratio of 0.62 and a debt-to-equity ratio of 0.51. The stock has a market cap of $30.48 billion, a P/E ratio of 17.22, a PEG ratio of 1.18 and a beta of 1.27.

Northern Trust (NASDAQ:NTRS) last posted its earnings results on Tuesday, April 21st. The asset manager reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.37 by $0.34. Northern Trust had a net margin of 12.84% and a return on equity of 15.94%. The firm had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the previous year, the firm posted $1.90 EPS. The business’s quarterly revenue was up 13.8% on a year-over-year basis. Analysts predict that Northern Trust Corporation will post 10.63 EPS for the current fiscal year.

Northern Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 5th will be issued a $0.80 dividend. The ex-dividend date is Friday, June 5th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.9%. Northern Trust’s payout ratio is 33.51%.

About Northern Trust

Northern Trust Corporation (NASDAQ: NTRS) is a global financial services firm headquartered in Chicago that provides asset servicing, asset management and wealth management solutions to institutions, corporations and high-net-worth individuals. The company’s core businesses include custody and fund administration, investment operations outsourcing, trust and fiduciary services, private banking, and retirement and defined contribution plan services.

Northern Trust’s product and service offerings span custody and fund accounting, portfolio and performance analytics, securities lending, cash management and foreign exchange, as well as discretionary and non-discretionary investment management.