Kornitzer Capital Management Inc. KS Has $4.09 Million Position in Northern Trust Corporation (NASDAQ:NTRS)

Kornitzer Capital Management Inc. KS decreased its stake in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 7.4% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 41,441 shares of the asset manager's stock after selling 3,335 shares during the period. Kornitzer Capital Management Inc. KS's holdings in Northern Trust were worth $4,088,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NTRS. Ellevest Inc. raised its holdings in Northern Trust by 3.4% in 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 period. Steward Partners Investment Advisory LLC grew its position in shares of Northern Trust by 29.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 597 shares of the asset manager's stock valued at $61,000 after purchasing an additional 137 shares during the last quarter. Amalgamated Bank increased its stake in shares of Northern Trust by 0.5% in the first quarter. Amalgamated Bank now owns 38,065 shares of the asset manager's stock worth $3,755,000 after purchasing an additional 172 shares during the period. Fifth Third Bancorp lifted its position in shares of 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 purchasing an additional 179 shares during the last quarter. Finally, Parallel Advisors LLC boosted its stake in Northern Trust by 11.4% during the 1st quarter. Parallel Advisors LLC now owns 1,773 shares of the asset manager's stock valued at $175,000 after purchasing an additional 182 shares during the period. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Northern Trust

In other Northern Trust news, insider Teresa Parker sold 6,467 shares of Northern Trust 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 owned 79,391 shares of the company's stock, valued at approximately $7,988,322.42. The trade was a 7.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 owned 28,736 shares in the company, valued at $2,872,163.20. This represents a 10.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,772 shares of company stock worth $981,069 over the last 90 days. 0.77% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

NTRS has been the topic of several research reports. Keefe, Bruyette & Woods downgraded shares of Northern Trust from a "market perform" rating to an "underperform" rating and boosted their price objective for the stock from $103.00 to $120.00 in a report on Friday, July 11th. Citigroup cut their price target on Northern Trust from $110.00 to $105.00 and set a "neutral" rating for the company in a report on Monday, March 24th. Evercore ISI raised their price objective on Northern Trust from $108.00 to $121.00 and gave the stock an "in-line" rating in a research report on Wednesday, July 2nd. Bank of America lowered their price objective on Northern Trust from $123.00 to $121.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. Finally, Truist Financial upped their target price on Northern Trust from $116.00 to $126.00 and gave the company a "hold" rating in a research note on Thursday, July 3rd. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $114.50.

Northern Trust Price Performance

Shares of NASDAQ:NTRS traded up $1.21 during trading on Wednesday, reaching $124.81. The stock had a trading volume of 2,257,681 shares, compared to its average volume of 1,453,210. The business's 50-day moving average price is $113.56 and its 200 day moving average price is $105.73. Northern Trust Corporation has a 52 week low of $80.81 and a 52 week high of $133.00. The stock has a market capitalization of $24.28 billion, a PE ratio of 11.64, a P/E/G ratio of 1.88 and a beta of 1.26. 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 announced its earnings results on Tuesday, April 22nd. The asset manager reported $1.90 earnings per share for the quarter, topping analysts' consensus estimates 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 analysts predict that Northern Trust Corporation will post 8.27 earnings per share for the current year.

Northern Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 6th were paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date of this dividend was Friday, June 6th. Northern Trust's dividend payout ratio (DPR) is 27.99%.

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.