Bessemer Group Inc. Cuts Stake in Northern Trust Corporation (NASDAQ:NTRS)

Bessemer Group Inc. decreased its holdings in Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 74.1% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 14,390 shares of the asset manager's stock after selling 41,206 shares during the period. Bessemer Group Inc.'s holdings in Northern Trust were worth $1,419,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in NTRS. Colonial Trust Co SC boosted its position in Northern Trust by 6,400.0% during the 4th quarter. Colonial Trust Co SC now owns 260 shares of the asset manager's stock valued at $27,000 after buying an additional 256 shares during the period. Continuum Advisory LLC boosted its position in Northern Trust by 5,340.0% during the 1st quarter. Continuum Advisory LLC now owns 272 shares of the asset manager's stock valued at $27,000 after buying an additional 267 shares during the period. Assetmark Inc. boosted its position in Northern Trust by 528.3% during the 4th quarter. Assetmark Inc. now owns 377 shares of the asset manager's stock valued at $39,000 after buying an additional 317 shares during the period. Coppell Advisory Solutions LLC purchased a new stake in Northern Trust during the 4th quarter valued at $44,000. Finally, True Wealth Design LLC boosted its position in Northern Trust by 84.0% during the 4th quarter. True Wealth Design LLC now owns 425 shares of the asset manager's stock valued at $44,000 after buying an additional 194 shares during the period. Hedge funds and other institutional investors own 83.19% of the company's stock.

Northern Trust Stock Up 1.2%

Shares of Northern Trust stock opened at $124.41 on Monday. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.71 and a quick ratio of 0.71. The company has a 50-day moving average of $105.23 and a 200 day moving average of $103.69. The firm has a market cap of $24.20 billion, a price-to-earnings ratio of 11.61, a PEG ratio of 1.88 and a beta of 1.22. Northern Trust Corporation has a 1 year low of $80.81 and a 1 year high of $124.52.

Northern Trust (NASDAQ:NTRS - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The asset manager reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.05. The company had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.95 billion. Northern Trust had a net margin of 13.93% and a return on equity of 13.73%. As a group, sell-side analysts anticipate that Northern Trust Corporation will post 8.27 earnings per share for the current fiscal year.

Northern Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 6th will be paid 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 2.41%. Northern Trust's dividend payout ratio is currently 27.99%.

Analyst Upgrades and Downgrades

NTRS has been the subject of several analyst reports. Bank of America dropped their price target on shares of Northern Trust from $123.00 to $121.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. Morgan Stanley restated an "underweight" rating and issued a $103.00 price objective (up from $101.00) on shares of Northern Trust in a report on Tuesday, June 3rd. Citigroup dropped their target price on shares of Northern Trust from $110.00 to $105.00 and set a "neutral" rating for the company in a research report on Monday, March 24th. Wells Fargo & Company dropped their target price on shares of Northern Trust from $118.00 to $111.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 23rd. Finally, Truist Financial dropped 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 report on Wednesday, April 23rd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $108.42.

Insider Buying and Selling at Northern Trust

In other Northern Trust news, insider Teresa Parker sold 6,467 shares of the firm's stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $100.62, for a total transaction of $650,709.54. Following the completion of the sale, the insider now directly owns 79,391 shares in the company, valued at approximately $7,988,322.42. This trade represents a 7.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Clive Bellows sold 3,300 shares of the firm's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $99.95, for a total transaction of $329,835.00. Following the sale, the executive vice president now owns 28,736 shares of the company's stock, valued at approximately $2,872,163.20. This represents a 10.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,772 shares of company stock worth $981,069. 0.77% of the stock is owned by corporate insiders.

About Northern Trust

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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