Ameriprise Financial Inc. Sells 34,321 Shares of Northern Trust Co. (NASDAQ:NTRS)

Ameriprise Financial Inc. reduced its stake in Northern Trust Co. (NASDAQ:NTRS - Free Report) by 6.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 492,357 shares of the asset manager's stock after selling 34,321 shares during the quarter. Ameriprise Financial Inc. owned about 0.25% of Northern Trust worth $50,483,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA raised its position in Northern Trust by 1.2% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,486,616 shares of the asset manager's stock worth $767,378,000 after buying an additional 92,162 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Northern Trust by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 4,904,871 shares of the asset manager's stock valued at $501,444,000 after acquiring an additional 30,908 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Northern Trust by 9.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,296,442 shares of the asset manager's stock worth $386,809,000 after purchasing an additional 388,692 shares during the period. Invesco Ltd. increased its holdings in Northern Trust by 7.5% in the 4th quarter. Invesco Ltd. now owns 2,885,312 shares of the asset manager's stock valued at $295,744,000 after acquiring an additional 202,327 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in Northern Trust by 1.6% in the 4th quarter. Wellington Management Group LLP now owns 2,532,401 shares of the asset manager's stock worth $259,571,000 after acquiring an additional 39,592 shares during the last quarter. Hedge funds and other institutional investors own 83.19% of the company's stock.

Northern Trust Trading Up 0.2 %

Shares of NASDAQ:NTRS opened at $100.59 on Friday. 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 Co. has a 52-week low of $79.68 and a 52-week high of $114.67. The stock has a market cap of $19.57 billion, a price-to-earnings ratio of 10.29, a PEG ratio of 1.72 and a beta of 1.18. The business has a 50-day moving average price of $94.99 and a 200-day moving average price of $102.88.

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

Northern Trust Announces Dividend

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 $0.75 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.00 annualized dividend and a dividend yield of 2.98%. Northern Trust's dividend payout ratio (DPR) is presently 27.99%.

Analysts Set New Price Targets

Several brokerages recently commented on NTRS. Royal Bank of Canada cut their price target on shares of Northern Trust from $115.00 to $105.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. Wells Fargo & Company reduced their price target on shares of Northern Trust from $118.00 to $111.00 and set an "equal weight" rating for the company in a report on Wednesday, April 23rd. UBS Group increased their price objective on shares of Northern Trust from $110.00 to $114.00 and gave the company a "neutral" rating in a research note on Monday, January 27th. Citigroup reduced their price objective on shares of Northern Trust from $110.00 to $105.00 and set a "neutral" rating for the company in a research note on Monday, March 24th. Finally, Bank of America cut their price objective on shares of Northern Trust from $123.00 to $121.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Northern Trust presently has an average rating of "Hold" and a consensus target price of $110.83.

Insider Transactions at Northern Trust

In other Northern Trust news, EVP Thomas A. South sold 3,804 shares of the business's stock in a transaction that occurred 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 of the company's stock, valued at approximately $9,242,722. The trade was a 4.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.77% of the company's stock.

Northern Trust Company 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.

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