BNP Paribas Financial Markets Has $37.62 Million Stock Holdings in Northern Trust Corporation $NTRS

Key Points

• BNP Paribas Financial Markets reduced its Northern Trust stake by 15.2% in the fourth quarter, selling 49,386 shares and leaving it with 275,439 shares worth about $37.6 million.
• Northern Trust posted better-than-expected quarterly results, reporting EPS of $2.71 versus $2.37 expected and revenue of $2.21 billion, up 13.8% year over year.
• The company also announced a quarterly dividend of $0.80 per share, implying a 1.9% yield, while analysts currently hold a consensus “Hold” rating with an average price target of $164.08.

BNP Paribas Financial Markets cut its stake in Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 15.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 275,439 shares of the asset manager's stock after selling 49,386 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.15% of Northern Trust worth $37,622,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Triumph Capital Management acquired a new position in shares of Northern Trust in the third quarter worth $25,000. Board of the Pension Protection Fund acquired a new position in shares of Northern Trust in the fourth quarter worth $27,000. Elyxium Wealth LLC acquired a new position in shares of Northern Trust in the fourth quarter worth $34,000. International Assets Investment Management LLC acquired a new position in shares of Northern Trust in the fourth quarter worth $35,000. Finally, Olistico Wealth LLC acquired a new position in shares of Northern Trust in the fourth quarter worth $41,000. 83.19% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. The Goldman Sachs Group upped their price target on shares of Northern Trust from $151.00 to $169.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 22nd. Zacks Research raised shares of Northern Trust from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 12th. BMO Capital Markets raised shares of Northern Trust from a "market perform" rating to an "outperform" rating and set a $168.00 price target on the stock in a research note on Monday, April 6th. Wells Fargo & Company upped their price target on shares of Northern Trust from $150.00 to $175.00 and gave the stock an "equal weight" rating in a research note on Wednesday, April 22nd. Finally, Royal Bank Of Canada lifted their price objective on shares of Northern Trust from $159.00 to $178.00 and gave the company an "outperform" rating in a research note on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $164.08.

Northern Trust Stock Down 0.8%

NTRS stock opened at $168.45 on Thursday. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.51. Northern Trust Corporation has a 1 year low of $105.43 and a 1 year high of $173.18. The company has a fifty day simple moving average of $158.26 and a 200 day simple moving average of $146.82. The firm has a market cap of $31.17 billion, a PE ratio of 17.64, a PEG ratio of 1.22 and a beta of 1.25.

Northern Trust (NASDAQ:NTRS - Get Free Report) last released its quarterly earnings data on Tuesday, April 21st. The asset manager reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.37 by $0.34. Northern Trust had a net margin of 12.84% and a return on equity of 15.94%. The business had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same quarter in the previous year, the business earned $1.90 EPS. Northern Trust's quarterly revenue was up 13.8% compared to the same quarter last year. Sell-side analysts anticipate that Northern Trust Corporation will post 10.68 EPS for the current fiscal year.

Northern Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Friday, June 5th will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, June 5th. Northern Trust's payout ratio is presently 33.51%.

Insider Activity at Northern Trust

In other news, Director Robert Edward Jr. Moritz bought 225 shares of the business's stock in a transaction on Friday, May 1st. The stock was purchased at an average price of $166.41 per share, with a total value of $37,442.25. Following the transaction, the director directly owned 8,145 shares in the company, valued at approximately $1,355,409.45. The trade was a 2.84% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO David W. Fox, Jr. sold 19,987 shares of the business's stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $166.16, for a total transaction 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 represents a 51.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 22,800 shares of company stock valued at $3,785,251. Insiders own 0.66% of the company's stock.

Northern Trust Company Profile

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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