Rathbones Group PLC Has $4.76 Million Position in Northern Trust Corporation $NTRS

Rathbones Group PLC lowered its position in Northern Trust Corporation (NASDAQ:NTRS) by 22.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 34,868 shares of the asset manager’s stock after selling 10,182 shares during the period. Rathbones Group PLC’s holdings in Northern Trust were worth $4,763,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in NTRS. Empowered Funds LLC increased its holdings in Northern Trust by 13.3% in the first quarter. Empowered Funds LLC now owns 20,112 shares of the asset manager’s stock worth $1,984,000 after buying an additional 2,363 shares during the last quarter. Woodline Partners LP increased its holdings in Northern Trust by 39.1% in the first quarter. Woodline Partners LP now owns 16,557 shares of the asset manager’s stock worth $1,633,000 after buying an additional 4,653 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in Northern Trust by 79.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,350 shares of the asset manager’s stock worth $171,000 after buying an additional 596 shares during the last quarter. WINTON GROUP Ltd acquired a new position in Northern Trust in the second quarter worth approximately $267,000. Finally, Daiwa Securities Group Inc. boosted its position in Northern Trust by 4.6% during the second quarter. Daiwa Securities Group Inc. now owns 29,290 shares of the asset manager’s stock worth $3,714,000 after purchasing an additional 1,275 shares during the period. Institutional investors and hedge funds own 83.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on NTRS shares. Morgan Stanley increased their price target on Northern Trust from $131.00 to $140.00 and gave the company an “underweight” rating in a report on Friday, January 23rd. Evercore increased their price target on Northern Trust from $142.00 to $155.00 and gave the company an “in-line” rating in a report on Friday, January 23rd. Citigroup started coverage on Northern Trust in a report on Monday, February 23rd. They set a “neutral” rating on the stock. The Goldman Sachs Group increased their price target on Northern Trust from $151.00 to $169.00 and gave the company a “neutral” rating in a report on Wednesday, April 22nd. Finally, TD Cowen increased their price target on Northern Trust from $165.00 to $175.00 and gave the company a “buy” rating in a report on Monday, January 26th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $164.08.

Northern Trust Trading Up 0.7%

Shares of NTRS stock opened at $167.11 on Friday. The business’s 50 day moving average is $152.62 and its two-hundred day moving average is $144.35. The company has a market cap of $30.92 billion, a PE ratio of 17.50, a price-to-earnings-growth ratio of 1.19 and a beta of 1.27. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.51. Northern Trust Corporation has a 12 month low of $104.09 and a 12 month high of $173.18.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings data on Tuesday, April 21st. The asset manager reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.37 by $0.34. The business had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.13 billion. Northern Trust had a net margin of 12.84% and a return on equity of 15.94%. Northern Trust’s quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter last year, the company posted $1.90 earnings per share. Equities analysts predict that Northern Trust Corporation will post 10.68 EPS for the current year.

Northern Trust Announces Dividend

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

Insider Activity at Northern Trust

In other news, CFO David W. Fox, Jr. sold 19,987 shares of the firm’s stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $166.16, for a total value of $3,321,039.92. Following the sale, the chief financial officer owned 18,588 shares in the company, valued at approximately $3,088,582.08. This trade represents a 51.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Clive Bellows sold 2,800 shares of the firm’s stock in a transaction on 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 sale, the insider owned 28,217 shares in the company, valued at approximately $4,656,369.34. The trade was a 9.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 30,514 shares of company stock worth $4,890,937. Insiders own 0.66% of the company’s stock.

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.