Jefferies Financial Group Inc. Sells 11,500 Shares of Northern Trust Corporation (NASDAQ:NTRS)

Key Points

• Jefferies Financial Group Inc. reduced its holdings in Northern Trust Corporation by 25.8%, selling 11,500 shares and now owns 33,020 shares valued at approximately $3.25 million.
• Insider trades at Northern Trust revealed a significant stock sale by Teresa Parker, where she sold 6,467 shares for about $650,709, indicating a 7.53% decrease in her ownership.
• Northern Trust has recently raised its quarterly dividend to $0.80 per share, reflecting an increase from the previous $0.75 and a dividend yield of 2.5%.

Jefferies Financial Group Inc. reduced its position in Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 25.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 33,020 shares of the asset manager's stock after selling 11,500 shares during the quarter. Jefferies Financial Group Inc.'s holdings in Northern Trust were worth $3,257,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Ellevest Inc. boosted its holdings in Northern Trust by 3.4% during the 4th quarter. Ellevest Inc. now owns 3,410 shares of the asset manager's stock worth $350,000 after acquiring an additional 113 shares during the last quarter. Amalgamated Bank boosted its holdings in Northern Trust by 0.5% during the 1st quarter. Amalgamated Bank now owns 38,065 shares of the asset manager's stock worth $3,755,000 after acquiring an additional 172 shares during the last quarter. Fifth Third Bancorp boosted its holdings in Northern Trust by 1.7% during the 1st quarter. Fifth Third Bancorp now owns 10,876 shares of the asset manager's stock worth $1,073,000 after acquiring an additional 179 shares during the last quarter. Parallel Advisors LLC boosted its holdings in Northern Trust by 11.4% during the 1st quarter. Parallel Advisors LLC now owns 1,773 shares of the asset manager's stock worth $175,000 after acquiring an additional 182 shares during the last quarter. Finally, True Wealth Design LLC boosted its holdings in Northern Trust by 84.0% during the 4th quarter. True Wealth Design LLC now owns 425 shares of the asset manager's stock worth $44,000 after acquiring an additional 194 shares during the last quarter. 83.19% of the stock is owned by institutional investors.

Insider Transactions at Northern Trust

In other news, insider Teresa Parker sold 6,467 shares of the stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $100.62, for a total value of $650,709.54. Following the sale, the insider directly owned 79,391 shares of the company's stock, valued at approximately $7,988,322.42. This represents a 7.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Clive Bellows sold 3,300 shares of the stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $99.95, for a total transaction of $329,835.00. Following the completion of the sale, the executive vice president directly owned 28,736 shares in the company, valued at approximately $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 three months, insiders sold 9,772 shares of company stock worth $981,069. Insiders own 0.77% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on NTRS shares. Wall Street Zen raised shares of Northern Trust from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Truist Financial boosted their price target on shares of Northern Trust from $116.00 to $126.00 and gave the stock a "hold" rating in a report on Thursday, July 3rd. Barclays boosted their price target on shares of Northern Trust from $128.00 to $136.00 and gave the stock an "equal weight" rating in a report on Thursday, July 24th. Wolfe Research raised shares of Northern Trust from an "underperform" rating to a "peer perform" rating in a report on Thursday, July 24th. Finally, Royal Bank Of Canada set a $123.00 price target on shares of Northern Trust and gave the stock an "outperform" rating in a report on Monday, June 30th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Northern Trust has a consensus rating of "Hold" and a consensus target price of $116.58.

Northern Trust Price Performance

NASDAQ NTRS opened at $127.06 on Friday. The company has a market cap of $24.30 billion, a PE ratio of 14.93, a price-to-earnings-growth ratio of 1.69 and a beta of 1.28. Northern Trust Corporation has a 52 week low of $80.81 and a 52 week high of $133.00. The company has a quick ratio of 0.71, a current ratio of 0.72 and a debt-to-equity ratio of 0.58. The firm's 50-day simple moving average is $119.53 and its two-hundred day simple moving average is $108.04.

Northern Trust (NASDAQ:NTRS - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The asset manager reported $2.13 EPS for the quarter, beating the consensus estimate of $2.08 by $0.05. The business had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.96 billion. Northern Trust had a net margin of 11.75% and a return on equity of 14.06%. The company's revenue was down 26.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.34 earnings per share. Research analysts predict that Northern Trust Corporation will post 8.27 earnings per share for the current year.

Northern Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 5th will be issued a $0.80 dividend. The ex-dividend date of this dividend is Friday, September 5th. This is a positive change from Northern Trust's previous quarterly dividend of $0.75. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.5%. Northern Trust's payout ratio is currently 35.25%.

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.

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