Adage Capital Partners GP L.L.C. Sells 10,650 Shares of Northern Trust Co. (NASDAQ:NTRS)

Adage Capital Partners GP L.L.C. lessened its position in Northern Trust Co. (NASDAQ:NTRS - Free Report) by 5.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 179,450 shares of the asset manager's stock after selling 10,650 shares during the quarter. Adage Capital Partners GP L.L.C. owned approximately 0.09% of Northern Trust worth $18,394,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Coppell Advisory Solutions LLC acquired a new stake in shares of Northern Trust in the fourth quarter worth $44,000. Quantessence Capital LLC acquired a new stake in Northern Trust during the 4th quarter worth about $319,000. Hsbc Holdings PLC grew its stake in Northern Trust by 3.8% during the 4th quarter. Hsbc Holdings PLC now owns 408,362 shares of the asset manager's stock valued at $41,852,000 after acquiring an additional 15,025 shares in the last quarter. OneDigital Investment Advisors LLC acquired a new position in shares of Northern Trust in the 4th quarter valued at about $201,000. Finally, Stifel Financial Corp lifted its position in shares of Northern Trust by 3.4% in the fourth quarter. Stifel Financial Corp now owns 100,212 shares of the asset manager's stock worth $10,272,000 after purchasing an additional 3,339 shares in the last quarter. Institutional investors and hedge funds own 83.19% of the company's stock.

Northern Trust Stock Performance

Northern Trust stock traded up $0.96 during trading hours on Thursday, reaching $94.94. 1,061,435 shares of the company were exchanged, compared to its average volume of 1,365,881. Northern Trust Co. has a 12 month low of $79.68 and a 12 month high of $114.67. The firm has a market cap of $18.58 billion, a price-to-earnings ratio of 9.71, a PEG ratio of 1.72 and a beta of 1.10. The company has a current ratio of 0.68, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The stock has a 50-day moving average of $96.60 and a 200 day moving average of $102.77.

Northern Trust (NASDAQ:NTRS - Get Free Report) last posted its 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. The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.95 billion. Northern Trust had a net margin of 12.77% and a return on equity of 13.74%. As a group, research analysts anticipate that Northern Trust Co. will post 8.27 earnings per share for the current year.

Northern Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 6th will be issued a dividend of $0.75 per share. The ex-dividend date is Friday, June 6th. This represents a $3.00 annualized dividend and a dividend yield of 3.16%. Northern Trust's payout ratio is 27.99%.

Analysts Set New Price Targets

NTRS has been the topic of several research reports. The Goldman Sachs Group upped their price objective on shares of Northern Trust from $92.00 to $102.00 and gave the company a "sell" rating in a research note on Friday, January 24th. StockNews.com cut Northern Trust from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. Keefe, Bruyette & Woods upped their target price on Northern Trust from $113.00 to $122.00 and gave the stock a "market perform" rating in a research report on Friday, January 24th. Morgan Stanley reduced their price target 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. Finally, Wells Fargo & Company lowered their price target on Northern Trust from $118.00 to $111.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $110.83.

Insider Activity

In related news, EVP Thomas A. South sold 3,804 shares of the company's stock in a transaction on Wednesday, February 19th. The stock was 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 in the company, valued at approximately $9,242,722. This represents a 4.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Jane Karpinski sold 2,262 shares of Northern Trust stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $111.33, for a total transaction of $251,828.46. Following the sale, the executive vice president now owns 17,236 shares in the company, valued at $1,918,883.88. This represents a 11.60 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,966 shares of company stock valued at $781,976. Insiders own 0.77% of the company's stock.

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.