Diversified Trust Co Sells 8,323 Shares of Northern Trust Corporation (NASDAQ:NTRS)

Diversified Trust Co reduced its stake in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 42.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,102 shares of the asset manager's stock after selling 8,323 shares during the period. Diversified Trust Co's holdings in Northern Trust were worth $1,095,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Colonial Trust Co SC grew its holdings 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 worth $27,000 after acquiring an additional 256 shares during the period. Continuum Advisory LLC grew its stake in Northern Trust by 5,340.0% in the first quarter. Continuum Advisory LLC now owns 272 shares of the asset manager's stock valued at $27,000 after purchasing an additional 267 shares in the last quarter. Assetmark Inc. increased its stake in shares of Northern Trust by 528.3% during the 4th quarter. Assetmark Inc. now owns 377 shares of the asset manager's stock worth $39,000 after purchasing an additional 317 shares during the last quarter. Coppell Advisory Solutions LLC acquired a new stake in Northern Trust during the fourth quarter worth approximately $44,000. Finally, True Wealth Design LLC boosted 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. 83.19% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Bank of America decreased their price objective on Northern Trust from $123.00 to $121.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. Morgan Stanley reiterated an "underweight" rating and issued a $103.00 target price (up from $101.00) on shares of Northern Trust in a research report on Tuesday, June 3rd. Citigroup dropped their price target on Northern Trust from $110.00 to $105.00 and set a "neutral" rating on the stock in a research report on Monday, March 24th. Wells Fargo & Company reduced their price objective on 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 decreased their target price on shares of Northern Trust from $98.00 to $92.00 and set a "hold" rating on the stock in a research note 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 given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $108.42.

Insider Buying and Selling

In related news, insider Teresa Parker sold 6,467 shares of the firm's stock in a transaction on Friday, May 9th. The stock was sold at an average price of $100.62, for a total transaction of $650,709.54. Following the sale, the insider owned 79,391 shares of the company's stock, valued at $7,988,322.42. This trade represents a 7.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Clive Bellows sold 3,300 shares of the company'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 owned 28,736 shares in the company, valued at $2,872,163.20. The trade was a 10.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,772 shares of company stock valued at $981,069. 0.77% of the stock is owned by company insiders.

Northern Trust Price Performance

Shares of NTRS stock traded up $2.38 during trading hours on Monday, reaching $126.79. 2,944,801 shares of the company were exchanged, compared to its average volume of 1,415,719. The stock's fifty day moving average is $105.23 and its two-hundred day moving average is $103.69. The company has a market cap of $24.67 billion, a price-to-earnings ratio of 11.83, a P/E/G ratio of 1.88 and a beta of 1.22. Northern Trust Corporation has a fifty-two week low of $80.81 and a fifty-two week high of $127.18. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.71 and a quick ratio of 0.71.

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 for the quarter, topping the consensus estimate of $1.85 by $0.05. Northern Trust had a net margin of 13.93% and a return on equity of 13.73%. The company had revenue of $1.95 billion during the quarter, compared to analysts' expectations of $1.95 billion. Sell-side analysts forecast that Northern Trust Corporation will post 8.27 earnings per share for the current fiscal year.

Northern Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 6th will be issued a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.00 annualized dividend and a yield of 2.37%. Northern Trust's payout ratio is currently 27.99%.

Northern Trust Company Profile

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.