Fairview Capital Investment Management LLC cut its holdings in shares of Northern Trust Co. (NASDAQ:NTRS - Free Report) by 13.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,060 shares of the asset manager's stock after selling 4,435 shares during the period. Fairview Capital Investment Management LLC's holdings in Northern Trust were worth $2,979,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Y.D. More Investments Ltd raised its stake in shares of Northern Trust by 118.4% in the fourth quarter. Y.D. More Investments Ltd now owns 249 shares of the asset manager's stock worth $26,000 after buying an additional 135 shares during the period. Colonial Trust Co SC increased its stake in Northern Trust by 6,400.0% in the 4th quarter. Colonial Trust Co SC now owns 260 shares of the asset manager's stock worth $27,000 after acquiring an additional 256 shares during the last quarter. Empirical Asset Management LLC bought a new stake in Northern Trust in the 4th quarter worth approximately $33,000. Brooklyn Investment Group increased its stake in Northern Trust by 51.2% in the 4th quarter. Brooklyn Investment Group now owns 378 shares of the asset manager's stock worth $39,000 after acquiring an additional 128 shares during the last quarter. Finally, Assetmark Inc. increased its stake in Northern Trust by 528.3% in the 4th quarter. Assetmark Inc. now owns 377 shares of the asset manager's stock worth $39,000 after acquiring an additional 317 shares during the last quarter. 83.19% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages have recently commented on NTRS. Evercore ISI dropped their target price on Northern Trust from $104.00 to $100.00 and set an "in-line" rating for the company in a report on Wednesday, April 23rd. Citigroup dropped their target price on Northern Trust from $110.00 to $105.00 and set a "neutral" rating for the company in a report on Monday, March 24th. Truist Financial cut their price objective on Northern Trust from $98.00 to $92.00 and set a "hold" rating on the stock in a research report on Wednesday, April 23rd. The Goldman Sachs Group upped their price objective on Northern Trust from $92.00 to $102.00 and gave the company a "sell" rating in a research report on Friday, January 24th. Finally, Royal Bank of Canada cut their price objective on Northern Trust from $115.00 to $105.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $110.83.
View Our Latest Report on NTRS
Insider Activity at Northern Trust
In other 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 sale, the executive vice president now directly owns 81,794 shares in the company, valued at $9,242,722. The trade was a 4.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Clive Bellows sold 3,300 shares of the business's stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $99.95, for a total value of $329,835.00. Following the completion of the sale, the executive vice president now owns 28,736 shares of the company's stock, valued at $2,872,163.20. This trade represents a 10.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,571 shares of company stock worth $1,410,397. 0.77% of the stock is owned by corporate insiders.
Northern Trust Stock Performance
Shares of Northern Trust stock traded down $0.45 on Wednesday, reaching $106.69. 778,129 shares of the stock were exchanged, compared to its average volume of 1,269,804. 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 twelve month low of $79.68 and a twelve month high of $114.67. The firm has a market capitalization of $20.76 billion, a price-to-earnings ratio of 10.91, a PEG ratio of 1.72 and a beta of 1.18. The business has a 50 day moving average price of $95.06 and a two-hundred day moving average price of $102.95.
Northern Trust (NASDAQ:NTRS - Get Free Report) last released 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 firm had revenue of $1.95 billion during 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%. Analysts anticipate that Northern Trust Co. will post 8.27 earnings per share for the current fiscal year.
Northern Trust Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 6th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.81%. The ex-dividend date of this dividend is Friday, June 6th. Northern Trust's dividend payout ratio is currently 27.99%.
Northern Trust Company Profile
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Free Report)
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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