Dark Forest Capital Management LP Sells 9,682 Shares of Northern Trust Co. (NASDAQ:NTRS)

Dark Forest Capital Management LP reduced its holdings in shares of Northern Trust Co. (NASDAQ:NTRS - Free Report) by 79.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,434 shares of the asset manager's stock after selling 9,682 shares during the quarter. Dark Forest Capital Management LP's holdings in Northern Trust were worth $249,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Virtu Financial LLC bought a new position in shares of Northern Trust in the third quarter worth $667,000. Wilmington Savings Fund Society FSB purchased a new position in Northern Trust during the 3rd quarter valued at about $228,000. Synovus Financial Corp purchased a new stake in shares of Northern Trust in the third quarter worth about $229,000. JPMorgan Chase & Co. boosted its position in shares of Northern Trust by 9.9% in 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 during the period. Finally, Versant Capital Management Inc grew its stake in Northern Trust by 34.9% during the fourth quarter. Versant Capital Management Inc now owns 684 shares of the asset manager's stock valued at $70,000 after acquiring an additional 177 shares in the last quarter. 83.19% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on NTRS. Truist Financial decreased their price target on shares of Northern Trust from $98.00 to $92.00 and set a "hold" rating on the stock in a report on Wednesday, April 23rd. Morgan Stanley dropped their price target on Northern Trust from $136.00 to $132.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 2nd. UBS Group raised their target price 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. The Goldman Sachs Group boosted their price target 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. Finally, StockNews.com cut shares of Northern Trust from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $110.83.

Insider Buying and Selling at Northern Trust

In other news, EVP Thomas A. South sold 3,804 shares of Northern Trust stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $113.00, for a total transaction of $429,852.00. Following the transaction, the executive vice president now owns 81,794 shares in the company, valued at $9,242,722. This trade represents a 4.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider John Landers sold 900 shares of the firm's stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $111.44, for a total value of $100,296.00. Following the completion of the transaction, the insider now directly owns 7,640 shares in the company, valued at approximately $851,401.60. This represents a 10.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,203 shares of company stock worth $1,034,019 in the last three months. 0.77% of the stock is currently owned by company insiders.

Northern Trust Stock Up 1.7 %

NASDAQ:NTRS opened at $94.05 on Wednesday. The firm has a 50-day simple moving average of $96.98 and a two-hundred day simple moving average of $102.83. The firm has a market cap of $18.41 billion, a P/E ratio of 9.62, a P/E/G ratio of 1.72 and a beta of 1.10. Northern Trust Co. has a fifty-two week low of $79.68 and a fifty-two week high of $114.67. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.68.

Northern Trust (NASDAQ:NTRS - Get Free Report) last released 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. The company had revenue of $1.95 billion for the quarter, compared to analysts' expectations of $1.95 billion. Northern Trust had a return on equity of 13.74% and a net margin of 12.77%. Analysts predict that Northern Trust Co. will post 8.27 earnings per share for the current fiscal 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 $0.75 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.00 annualized dividend and a yield of 3.19%. 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.

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