Continental Advisors LLC Reduces Stake in Northern Trust Co. (NASDAQ:NTRS)

Continental Advisors LLC cut its position in Northern Trust Co. (NASDAQ:NTRS - Free Report) by 21.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 33,801 shares of the asset manager's stock after selling 9,000 shares during the period. Northern Trust comprises 1.6% of Continental Advisors LLC's portfolio, making the stock its 17th largest holding. Continental Advisors LLC's holdings in Northern Trust were worth $3,465,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NTRS. Ballentine Partners LLC grew its stake in Northern Trust by 4.4% during the fourth quarter. Ballentine Partners LLC now owns 2,483 shares of the asset manager's stock valued at $255,000 after acquiring an additional 105 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Northern Trust by 24.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,061 shares of the asset manager's stock valued at $2,286,000 after acquiring an additional 4,374 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Northern Trust by 9.9% during the third quarter. JPMorgan Chase & Co. now owns 4,296,442 shares of the asset manager's stock valued at $386,809,000 after acquiring an additional 388,692 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in Northern Trust during the fourth quarter valued at $7,437,000. Finally, Charles Schwab Investment Management Inc. grew its stake in Northern Trust by 0.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,267,406 shares of the asset manager's stock valued at $129,909,000 after acquiring an additional 8,102 shares in the last quarter. 83.19% of the stock is owned by hedge funds and other institutional investors.

Northern Trust Trading Down 0.9 %

Shares of Northern Trust stock traded down $0.81 during trading on Friday, hitting $91.59. The stock had a trading volume of 1,171,120 shares, compared to its average volume of 1,251,665. The firm's fifty day simple moving average is $97.80 and its 200-day simple moving average is $102.89. The stock has a market cap of $17.92 billion, a PE ratio of 9.37, a PEG ratio of 1.72 and a beta of 1.10. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.68 and a quick ratio of 0.71. Northern Trust Co. has a 12 month low of $79.68 and a 12 month high of $114.67.

Northern Trust (NASDAQ:NTRS - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The asset manager reported $1.90 EPS for the quarter, topping 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, sell-side analysts expect that Northern Trust Co. will post 8.27 EPS for the current fiscal year.

Northern Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors 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 dividend on an annualized basis and a dividend yield of 3.28%. Northern Trust's payout ratio is 27.99%.

Insider Activity at Northern Trust

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 transaction, the executive vice president now directly owns 81,794 shares of the company's stock, valued at $9,242,722. This represents a 4.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jane Karpinski sold 2,262 shares of the company's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $111.33, for a total transaction of $251,828.46. Following the completion of the sale, the executive vice president now directly owns 17,236 shares in the company, valued at approximately $1,918,883.88. The trade was a 11.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 35,335 shares of company stock worth $3,970,211. Company insiders own 0.77% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on NTRS shares. Truist Financial cut their target price on shares of Northern Trust from $98.00 to $92.00 and set a "hold" rating for the company in a research note on Wednesday. UBS Group lifted their price objective on shares of Northern Trust from $110.00 to $114.00 and gave the stock a "neutral" rating in a research note on Monday, January 27th. The Goldman Sachs Group lifted their price objective on shares of Northern Trust from $92.00 to $102.00 and gave the stock a "sell" rating in a research note on Friday, January 24th. Royal Bank of Canada dropped their price objective on shares of Northern Trust from $115.00 to $105.00 and set an "outperform" rating for the company in a research note on Wednesday. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Northern Trust from $113.00 to $122.00 and gave the stock a "market perform" rating in a research note on Friday, January 24th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Northern Trust has an average rating of "Hold" and a consensus target price of $110.83.

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.