Northern Trust Co. (NASDAQ:NTRS) Shares Sold by Cresset Asset Management LLC

Cresset Asset Management LLC cut its position in Northern Trust Co. (NASDAQ:NTRS - Free Report) by 73.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,974 shares of the asset manager's stock after selling 19,373 shares during the quarter. Cresset Asset Management LLC's holdings in Northern Trust were worth $720,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Juncture Wealth Strategies LLC grew its stake in shares of Northern Trust by 2.4% in the 4th quarter. Juncture Wealth Strategies LLC now owns 4,212 shares of the asset manager's stock valued at $432,000 after purchasing an additional 100 shares during the last quarter. Ballentine Partners LLC grew its stake in shares of Northern Trust by 4.4% in the 4th quarter. Ballentine Partners LLC now owns 2,483 shares of the asset manager's stock valued at $255,000 after purchasing an additional 105 shares during the last quarter. Pallas Capital Advisors LLC grew its stake in shares of Northern Trust by 1.8% in the 4th quarter. Pallas Capital Advisors LLC now owns 6,091 shares of the asset manager's stock valued at $624,000 after purchasing an additional 107 shares during the last quarter. Bradley Foster & Sargent Inc. CT grew its stake in shares of Northern Trust by 2.4% in the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 4,774 shares of the asset manager's stock valued at $489,000 after purchasing an additional 114 shares during the last quarter. Finally, Brooklyn Investment Group grew its stake in shares of Northern Trust by 51.2% in the 4th quarter. Brooklyn Investment Group now owns 378 shares of the asset manager's stock valued at $39,000 after purchasing an additional 128 shares during the last quarter. 83.19% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Thomas A. South sold 3,804 shares of the business'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 of the company's stock, valued at $9,242,722. The trade was a 4.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Teresa Parker sold 6,467 shares of the business's stock in a transaction on Friday, May 9th. The stock was sold at an average price of $100.62, for a total value of $650,709.54. Following the completion of the transaction, the insider now directly owns 79,391 shares of the company's stock, valued at approximately $7,988,322.42. This trade represents a 7.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 13,571 shares of company stock worth $1,410,397. 0.77% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on NTRS. UBS Group lifted their target price on Northern Trust from $110.00 to $114.00 and gave the company a "neutral" rating in a research note on Monday, January 27th. Morgan Stanley lowered their target price on Northern Trust from $136.00 to $132.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 2nd. StockNews.com downgraded Northern Trust from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. Citigroup decreased their price target on Northern Trust from $110.00 to $105.00 and set a "neutral" rating on the stock in a research note on Monday, March 24th. Finally, Bank of America decreased their price target on Northern Trust from $123.00 to $121.00 and set a "buy" rating on the stock in a research note 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 data from MarketBeat.com, Northern Trust has a consensus rating of "Hold" and an average target price of $110.83.

Northern Trust Price Performance

NTRS traded up $0.43 during trading on Friday, reaching $107.90. 1,429,726 shares of the stock were exchanged, compared to its average volume of 1,275,612. The business's 50 day moving average price is $95.44 and its two-hundred day moving average price is $103.05. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.68 and a quick ratio of 0.71. The company has a market capitalization of $20.99 billion, a price-to-earnings ratio of 11.03, a P/E/G ratio of 1.72 and a beta of 1.18. Northern Trust Co. has a 1 year low of $79.68 and a 1 year high of $114.67.

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

Northern Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 6th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.00 dividend on an annualized basis and a yield of 2.78%. Northern Trust's payout ratio is 27.99%.

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.