Hsbc Holdings PLC Has $78.04 Million Holdings in Northern Trust Corporation $NTRS

Key Points

• HSBC Holdings PLC reduced its Northern Trust position by 15.6% in the fourth quarter, selling 105,413 shares and ending with 569,812 shares valued at about $78.04 million.
• Analyst sentiment remains mixed: the stock’s consensus rating is Hold with an average price target of $170.69, even as several firms recently raised their targets and BMO upgraded the shares to Outperform.
• Northern Trust posted solid quarterly results, with EPS of $2.71 beating estimates and revenue rising 13.8% year over year; the company also paid a quarterly dividend of $0.80 per share, equal to a 1.8% yield.

Hsbc Holdings PLC cut its position in Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 15.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 569,812 shares of the asset manager's stock after selling 105,413 shares during the quarter. Hsbc Holdings PLC owned about 0.31% of Northern Trust worth $78,040,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in NTRS. Triumph Capital Management bought a new position in shares of Northern Trust in the 3rd quarter valued at about $25,000. Reflection Asset Management bought a new position in Northern Trust during the fourth quarter worth about $25,000. Board of the Pension Protection Fund acquired a new position in Northern Trust during the fourth quarter worth approximately $27,000. Elyxium Wealth LLC acquired a new position in Northern Trust during the fourth quarter worth approximately $34,000. Finally, International Assets Investment Management LLC bought a new stake in Northern Trust in the fourth quarter valued at approximately $35,000. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on NTRS shares. Morgan Stanley lifted their target price on Northern Trust from $157.00 to $170.00 and gave the stock an "underweight" rating in a research note on Monday, June 29th. Weiss Ratings upgraded Northern Trust from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, May 4th. The Goldman Sachs Group lifted their price objective on shares of Northern Trust from $151.00 to $169.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 22nd. JPMorgan Chase & Co. upped their price objective on shares of Northern Trust from $153.50 to $170.00 and gave the company a "neutral" rating in a report on Monday, May 11th. Finally, BMO Capital Markets raised shares of Northern Trust from a "market perform" rating to an "outperform" rating and set a $168.00 price objective on the stock in a research report on Monday, April 6th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $170.69.

Insider Activity at Northern Trust

In other Northern Trust news, Director Robert Edward Jr. Moritz bought 225 shares of the stock in a transaction dated Friday, May 1st. The shares were bought at an average cost of $166.41 per share, with a total value of $37,442.25. Following the completion of the acquisition, the director owned 8,145 shares of the company's stock, valued at $1,355,409.45. This trade represents a 2.84% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Clive Bellows sold 2,800 shares of Northern Trust stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $165.02, for a total transaction of $462,056.00. Following the completion of the sale, the insider owned 28,217 shares of the company's stock, valued at approximately $4,656,369.34. The trade was a 9.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 22,800 shares of company stock worth $3,785,251. Corporate insiders own 0.66% of the company's stock.

Northern Trust Price Performance

Shares of NASDAQ NTRS opened at $176.50 on Friday. The firm has a market cap of $32.66 billion, a P/E ratio of 18.48, a price-to-earnings-growth ratio of 1.20 and a beta of 1.25. The business's 50 day moving average is $168.93 and its 200-day moving average is $153.24. 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 $118.99 and a 1-year high of $178.70.

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 (EPS) for the quarter, beating the consensus estimate of $2.37 by $0.34. Northern Trust had a return on equity of 15.94% and a net margin of 12.84%.The business had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the previous year, the company posted $1.90 EPS. The firm's quarterly revenue was up 13.8% on a year-over-year basis. Equities research analysts predict that Northern Trust Corporation will post 11.21 earnings per share for the current year.

Northern Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Friday, June 5th were given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, June 5th. Northern Trust's payout ratio is presently 33.51%.

Northern Trust 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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