Resona Asset Management Co. Ltd. Sells 4,437 Shares of Northern Trust Corporation $NTRS

Resona Asset Management Co. Ltd. cut its position in Northern Trust Corporation (NASDAQ:NTRS) by 7.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,185 shares of the asset manager’s stock after selling 4,437 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Northern Trust were worth $8,119,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Triumph Capital Management bought a new stake in shares of Northern Trust in the third quarter valued at $25,000. Board of the Pension Protection Fund bought a new stake in shares of Northern Trust in the fourth quarter valued at $27,000. Elyxium Wealth LLC bought a new stake in shares of Northern Trust in the fourth quarter valued at $34,000. International Assets Investment Management LLC bought a new stake in shares of Northern Trust in the fourth quarter valued at $35,000. Finally, Olistico Wealth LLC bought a new stake in shares of Northern Trust during the 4th quarter valued at $41,000. 83.19% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Clive Bellows sold 2,800 shares of the business’s stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $165.02, for a total transaction of $462,056.00. Following the completion of the transaction, the insider directly owned 28,217 shares in the company, valued at $4,656,369.34. The trade was a 9.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO David W. Fox, Jr. sold 19,987 shares of the business’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $166.16, for a total value of $3,321,039.92. Following the transaction, the chief financial officer owned 18,588 shares of the company’s stock, valued at approximately $3,088,582.08. The trade was a 51.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 30,514 shares of company stock valued at $4,890,937 in the last ninety days. Corporate insiders own 0.66% of the company’s stock.

Northern Trust Stock Performance

NASDAQ:NTRS opened at $167.11 on Friday. Northern Trust Corporation has a 52-week low of $104.09 and a 52-week high of $173.18. The business’s fifty day moving average is $152.62 and its 200 day moving average is $144.35. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.62 and a current ratio of 0.62. The firm has a market cap of $30.92 billion, a price-to-earnings ratio of 17.50, a PEG ratio of 1.19 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 EPS for the quarter, topping the consensus estimate of $2.37 by $0.34. Northern Trust had a return on equity of 15.94% and a net margin of 12.84%.The business had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same period in the previous year, the business earned $1.90 earnings per share. The firm’s revenue was up 13.8% on a year-over-year basis. Research analysts predict that Northern Trust Corporation will post 10.68 EPS for the current year.

Northern Trust Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Zacks Research upgraded Northern Trust from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. BMO Capital Markets upgraded Northern Trust from a “market perform” rating to an “outperform” rating and set a $168.00 price objective on the stock in a research note on Monday, April 6th. Morgan Stanley boosted their price objective on Northern Trust from $131.00 to $140.00 and gave the company an “underweight” rating in a research note on Friday, January 23rd. Barclays boosted their price objective on Northern Trust from $160.00 to $176.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 22nd. Finally, Royal Bank Of Canada boosted their price objective on Northern Trust from $159.00 to $178.00 and gave the company an “outperform” rating in a research note on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Northern Trust currently has an average rating of “Hold” and an average target price of $164.08.

Northern Trust Profile

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.