Confluence Investment Management LLC decreased its position in shares of Northern Trust Co. (NASDAQ:NTRS - Free Report) by 2.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,111,743 shares of the asset manager's stock after selling 28,315 shares during the quarter. Northern Trust accounts for approximately 1.6% of Confluence Investment Management LLC's investment portfolio, making the stock its 24th largest position. Confluence Investment Management LLC owned 0.57% of Northern Trust worth $109,673,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of NTRS. Y.D. More Investments Ltd raised its stake in Northern Trust by 118.4% during the fourth quarter. Y.D. More Investments Ltd now owns 249 shares of the asset manager's stock worth $26,000 after acquiring an additional 135 shares in the last quarter. Colonial Trust Co SC increased its stake in shares of Northern Trust by 6,400.0% in the fourth 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. Assetmark Inc. increased its stake in shares of Northern Trust by 528.3% in the fourth 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. True Wealth Design LLC increased its stake in shares of Northern Trust by 84.0% in the fourth 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. Finally, Coppell Advisory Solutions LLC acquired a new position in shares of Northern Trust in the fourth quarter valued at approximately $44,000. Institutional investors own 83.19% of the company's stock.
Insider Transactions at Northern Trust
In related news, insider Teresa Parker sold 6,467 shares of Northern Trust stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $100.62, for a total value of $650,709.54. Following the completion of the sale, the insider now owns 79,391 shares of the company's stock, valued at approximately $7,988,322.42. This trade represents a 7.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Clive Bellows sold 3,300 shares of Northern Trust stock in a transaction dated Thursday, May 8th. The stock was 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 directly owns 28,736 shares of the company's stock, valued at approximately $2,872,163.20. This trade represents a 10.30% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.77% of the company's stock.
Wall Street Analysts Forecast Growth
NTRS has been the subject of a number of recent analyst reports. Royal Bank of Canada decreased their target price on shares of Northern Trust from $115.00 to $105.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. Evercore ISI reduced their price objective on shares of Northern Trust from $104.00 to $100.00 and set an "in-line" rating for the company in a research report on Wednesday, April 23rd. Citigroup cut their target price on Northern Trust from $110.00 to $105.00 and set a "neutral" rating on the stock in a report on Monday, March 24th. Wells Fargo & Company cut their target price on Northern Trust from $118.00 to $111.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 23rd. Finally, Morgan Stanley cut their target price on Northern Trust from $136.00 to $132.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $110.83.
Check Out Our Latest Analysis on Northern Trust
Northern Trust Stock Down 0.7%
NASDAQ:NTRS traded down $0.70 during trading hours on Monday, hitting $106.04. 293,834 shares of the company traded hands, compared to its average volume of 1,291,968. The company has a quick ratio of 0.71, a current ratio of 0.68 and a debt-to-equity ratio of 0.58. The firm's 50-day simple moving average is $97.01 and its 200-day simple moving average is $103.24. Northern Trust Co. has a one year low of $79.68 and a one year high of $114.67. The company has a market cap of $20.63 billion, a PE ratio of 10.84, a PEG ratio of 1.72 and a beta of 1.18.
Northern Trust (NASDAQ:NTRS - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The asset manager reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.05. The business 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%. Equities analysts predict that Northern Trust Co. will post 8.27 earnings per share for the current year.
Northern Trust Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 6th will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date is Friday, June 6th. Northern Trust's payout ratio is 27.99%.
Northern Trust 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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