KBC Group NV reduced its stake in Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 11.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 850,124 shares of the asset manager's stock after selling 113,687 shares during the period. KBC Group NV owned 0.43% of Northern Trust worth $83,864,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of NTRS. Colonial Trust Co SC raised its stake in Northern Trust by 6,400.0% in the fourth quarter. Colonial Trust Co SC now owns 260 shares of the asset manager's stock worth $27,000 after buying an additional 256 shares in the last quarter. Continuum Advisory LLC raised 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 worth $27,000 after buying an additional 267 shares in the last quarter. Assetmark Inc. raised its stake in Northern Trust by 528.3% in the fourth quarter. Assetmark Inc. now owns 377 shares of the asset manager's stock worth $39,000 after buying an additional 317 shares in the last quarter. Coppell Advisory Solutions LLC bought a new position in Northern Trust in the fourth quarter worth about $44,000. Finally, True Wealth Design LLC raised its stake in Northern Trust by 84.0% in the fourth quarter. True Wealth Design LLC now owns 425 shares of the asset manager's stock worth $44,000 after buying an additional 194 shares in the last quarter. 83.19% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of brokerages have weighed in on NTRS. Morgan Stanley reaffirmed an "underweight" rating and set a $103.00 target price (up previously from $101.00) on shares of Northern Trust in a research note on Tuesday, June 3rd. 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 note on Wednesday, April 23rd. 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 note on Wednesday, April 23rd. 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 note on Wednesday, April 23rd. Finally, 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 note on Monday, March 24th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $108.42.
View Our Latest Report on NTRS
Insider Buying and Selling
In other 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 value of $650,709.54. Following the transaction, 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 transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Clive Bellows sold 3,300 shares of the firm's stock in a transaction on 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 transaction, the executive vice president now owns 28,736 shares in the company, valued at approximately $2,872,163.20. This trade represents a 10.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,772 shares of company stock worth $981,069. 0.77% of the stock is owned by insiders.
Northern Trust Price Performance
Shares of NTRS opened at $124.41 on Friday. The company has a market capitalization of $24.20 billion, a P/E ratio of 11.61, a price-to-earnings-growth ratio of 1.88 and a beta of 1.22. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.57. The firm has a 50 day moving average of $105.23 and a 200 day moving average of $103.70. Northern Trust Corporation has a twelve month low of $80.81 and a twelve month high of $124.52.
Northern Trust (NASDAQ:NTRS - Get Free Report) last announced its quarterly earnings results 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 company had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.95 billion. Northern Trust had a net margin of 13.93% and a return on equity of 13.73%. As a group, equities research analysts anticipate 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 given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 2.41%. The ex-dividend date of this dividend is Friday, June 6th. Northern Trust's dividend payout ratio (DPR) is currently 27.99%.
Northern Trust Company 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.
Further Reading
Want to see what other hedge funds are holding NTRS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Northern Trust Corporation (NASDAQ:NTRS - Free Report).
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