Benjamin Edwards Inc. Decreases Stake in Northern Trust Corporation $NTRS

Key Points

• Benjamin Edwards Inc. cut its stake in Northern Trust by 11.7% in Q4 to 62,369 shares (worth about $8.52 million) after selling 8,295 shares.
• Northern Trust beat Q1 estimates — $2.71 EPS vs. $2.37 expected and $2.21B revenue vs. $2.13B — prompting several upward price-target revisions, though the consensus rating remains "Hold" with an average target of $163.55.
• Notable insider activity: CFO David W. Fox Jr. sold 19,987 shares for ~$3.32M (a 51.8% reduction in his holding); insiders have sold 32,705 shares (~$5.21M) in the last 90 days while one director purchased 1,000 shares.

Benjamin Edwards Inc. lowered its holdings in Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 11.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,369 shares of the asset manager's stock after selling 8,295 shares during the quarter. Benjamin Edwards Inc.'s holdings in Northern Trust were worth $8,519,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Triumph Capital Management purchased a new position in shares of Northern Trust in the third quarter worth $25,000. Board of the Pension Protection Fund purchased a new position in shares of Northern Trust in the fourth quarter worth $27,000. Olistico Wealth LLC purchased a new position in shares of Northern Trust in the fourth quarter worth $41,000. True Wealth Design LLC raised its stake in shares of Northern Trust by 98.7% in the fourth quarter. True Wealth Design LLC now owns 314 shares of the asset manager's stock worth $43,000 after purchasing an additional 156 shares during the last quarter. Finally, Torren Management LLC purchased a new position in shares of Northern Trust in the fourth quarter worth $46,000. Hedge funds and other institutional investors own 83.19% of the company's stock.

Insider Buying and Selling

In related news, CFO David W. Fox, Jr. sold 19,987 shares of the firm's stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $166.16, for a total value of $3,321,039.92. Following the transaction, the chief financial officer directly owned 18,588 shares of the company's stock, valued at approximately $3,088,582.08. This trade represents a 51.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard Petrino bought 1,000 shares of the firm's stock in a transaction that occurred on Thursday, February 5th. The stock was bought at an average cost of $148.91 per share, for a total transaction of $148,910.00. Following the completion of the acquisition, the director owned 3,332 shares in the company, valued at $496,168.12. This trade represents a 42.88% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold a total of 32,705 shares of company stock valued at $5,211,464 in the last 90 days. 0.66% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on NTRS. Evercore boosted their price target on Northern Trust from $142.00 to $155.00 and gave the stock an "in-line" rating in a research note on Friday, January 23rd. BMO Capital Markets raised Northern Trust from a "market perform" rating to an "outperform" rating and set a $168.00 price target on the stock in a report on Monday, April 6th. The Goldman Sachs Group increased their price target on Northern Trust from $151.00 to $169.00 and gave the company a "neutral" rating in a report on Wednesday, April 22nd. Royal Bank Of Canada increased their price target on Northern Trust from $159.00 to $178.00 and gave the company an "outperform" rating in a report on Wednesday, April 22nd. Finally, Citigroup assumed coverage on Northern Trust in a report on Monday, February 23rd. They set a "neutral" rating on the stock. Four analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $163.55.

Northern Trust Price Performance

NASDAQ NTRS opened at $164.48 on Monday. The business's fifty day moving average price is $147.24 and its 200-day moving average price is $141.02. The stock has a market capitalization of $30.48 billion, a price-to-earnings ratio of 17.22, a PEG ratio of 1.18 and a beta of 1.27. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.62 and a quick ratio of 0.62. Northern Trust Corporation has a 1-year low of $95.88 and a 1-year high of $173.18.

Northern Trust (NASDAQ:NTRS - Get Free Report) last released its quarterly earnings results on Tuesday, April 21st. The asset manager reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.37 by $0.34. The firm had revenue of $2.21 billion for the quarter, compared to analysts' expectations of $2.13 billion. Northern Trust had a return on equity of 15.94% and a net margin of 12.84%.The company's revenue was up 13.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.90 EPS. On average, equities analysts predict that Northern Trust Corporation will post 10.63 earnings per share for the current year.

Northern Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Friday, June 5th will be issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Friday, June 5th. Northern Trust's dividend payout ratio (DPR) is currently 33.51%.

About Northern Trust

Northern Trust Corporation NASDAQ: NTRS is a global financial services firm headquartered in Chicago that provides asset servicing, asset management and wealth management solutions to institutions, corporations and high-net-worth individuals. The company's core businesses include custody and fund administration, investment operations outsourcing, trust and fiduciary services, private banking, and retirement and defined contribution plan services.

Northern Trust's product and service offerings span custody and fund accounting, portfolio and performance analytics, securities lending, cash management and foreign exchange, as well as discretionary and non-discretionary investment management.

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