InvesTrust Sells 3,210 Shares of Northern Trust Co. (NASDAQ:NTRS)

InvesTrust cut its stake in shares of Northern Trust Co. (NASDAQ:NTRS - Free Report) by 4.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 70,955 shares of the asset manager's stock after selling 3,210 shares during the period. Northern Trust makes up about 1.9% of InvesTrust's holdings, making the stock its 21st biggest position. InvesTrust's holdings in Northern Trust were worth $7,000,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Czech National Bank increased its stake in Northern Trust by 4.7% in the 1st quarter. Czech National Bank now owns 45,011 shares of the asset manager's stock valued at $4,440,000 after buying an additional 2,033 shares during the period. Rhumbline Advisers increased its stake in Northern Trust by 5.8% in the 1st quarter. Rhumbline Advisers now owns 373,515 shares of the asset manager's stock valued at $36,847,000 after buying an additional 20,531 shares during the period. Parallel Advisors LLC increased its stake in Northern Trust by 11.4% in the 1st quarter. Parallel Advisors LLC now owns 1,773 shares of the asset manager's stock valued at $175,000 after buying an additional 182 shares during the period. GAMMA Investing LLC increased its stake in Northern Trust by 10,340.5% in the 1st quarter. GAMMA Investing LLC now owns 445,602 shares of the asset manager's stock valued at $43,959,000 after buying an additional 441,334 shares during the period. Finally, Quent Capital LLC grew its stake in Northern Trust by 171.2% in the first quarter. Quent Capital LLC now owns 2,533 shares of the asset manager's stock valued at $250,000 after purchasing an additional 1,599 shares in the last quarter. Hedge funds and other institutional investors own 83.19% of the company's stock.

Northern Trust Stock Performance

NASDAQ:NTRS traded down $0.95 during mid-day trading on Wednesday, hitting $106.10. 1,021,912 shares of the company's stock traded hands, compared to its average volume of 1,293,493. The firm has a market capitalization of $20.64 billion, a price-to-earnings ratio of 10.85, a price-to-earnings-growth ratio of 1.72 and a beta of 1.22. Northern Trust Co. has a 12 month low of $79.68 and a 12 month high of $114.67. The firm has a 50 day moving average of $97.24 and a two-hundred day moving average of $103.26. The company has a current ratio of 0.68, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58.

Northern Trust (NASDAQ:NTRS - Get Free Report) last released its earnings results on Tuesday, April 22nd. The asset manager reported $1.90 EPS for the quarter, beating the consensus estimate of $1.85 by $0.05. The firm had revenue of $1.95 billion during the quarter, compared to analysts' expectations of $1.95 billion. Northern Trust had a net margin of 12.77% and a return on equity of 13.74%. On average, equities analysts forecast that Northern Trust Co. will post 8.27 earnings per share for the current fiscal year.

Northern Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 6th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 2.83%. The ex-dividend date is Friday, June 6th. Northern Trust's dividend payout ratio (DPR) is presently 27.99%.

Insider Buying and Selling at Northern Trust

In other Northern Trust news, EVP Clive Bellows sold 3,300 shares of the business's stock in a transaction 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 sale, the executive vice president now owns 28,736 shares of the company's stock, valued at $2,872,163.20. The trade was a 10.30% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Teresa Parker sold 6,467 shares of the business's stock in a transaction on 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 $7,988,322.42. This trade represents a 7.53% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.77% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Wells Fargo & Company lowered their target price on Northern Trust from $118.00 to $111.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 23rd. Bank of America decreased their target price 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. Citigroup decreased 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. Truist Financial decreased 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. Finally, Evercore ISI decreased their target price 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. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $108.42.

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.