LSV Asset Management Sells 12,239 Shares of Northern Trust Corporation $NTRS

Key Points

• LSV Asset Management reduced its Northern Trust stake by 1.5% in the fourth quarter, selling 12,239 shares and leaving it with 782,351 shares worth about $106.9 million.
• Analysts are mixed but increasingly optimistic on price targets: several firms raised targets to the $170-$176 range, while MarketBeat’s consensus rating remains Hold with a $164.08 target.
• Northern Trust posted solid quarterly results, beating EPS and revenue estimates, and it also announced a quarterly dividend of $0.80 per share, or $3.20 annualized, for a 1.9% yield.

LSV Asset Management trimmed its holdings in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 1.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 782,351 shares of the asset manager's stock after selling 12,239 shares during the period. LSV Asset Management owned approximately 0.41% of Northern Trust worth $106,861,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. CWM LLC lifted its holdings in shares of Northern Trust by 122.6% in the 4th quarter. CWM LLC now owns 48,284 shares of the asset manager's stock worth $6,595,000 after purchasing an additional 26,594 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Northern Trust by 2.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,947,456 shares of the asset manager's stock worth $262,128,000 after purchasing an additional 40,048 shares in the last quarter. iSAM Funds UK Ltd bought a new position in shares of Northern Trust in the 3rd quarter worth $2,253,000. Cinctive Capital Management LP lifted its holdings in shares of Northern Trust by 113.7% in the 3rd quarter. Cinctive Capital Management LP now owns 28,939 shares of the asset manager's stock worth $3,895,000 after purchasing an additional 15,398 shares in the last quarter. Finally, Barclays PLC lifted its holdings in shares of Northern Trust by 62.4% in the 3rd quarter. Barclays PLC now owns 1,042,084 shares of the asset manager's stock worth $140,265,000 after purchasing an additional 400,247 shares in the last quarter. 83.19% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on NTRS. JPMorgan Chase & Co. increased their target price on Northern Trust from $153.50 to $170.00 and gave the stock a "neutral" rating in a report on Monday, May 11th. Weiss Ratings upgraded Northern Trust from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, May 4th. TD Cowen raised their price objective on Northern Trust from $165.00 to $175.00 and gave the company a "buy" rating in a research note on Monday, January 26th. Truist Financial raised their target price on Northern Trust from $155.00 to $176.00 and gave the company a "hold" rating in a research report on Wednesday, April 22nd. Finally, Wells Fargo & Company raised their target price on Northern Trust from $150.00 to $175.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, four have issued 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 currently has a consensus rating of "Hold" and a consensus target price of $164.08.

Northern Trust Trading Up 0.4%

Shares of NTRS opened at $167.77 on Friday. The business has a 50-day moving average of $153.16 and a 200 day moving average of $144.52. Northern Trust Corporation has a fifty-two week low of $104.09 and a fifty-two week high of $173.18. The firm has a market cap of $31.05 billion, a P/E ratio of 17.57, a price-to-earnings-growth ratio of 1.20 and a beta of 1.27. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.62 and a current ratio of 0.62.

Northern Trust (NASDAQ:NTRS - Get Free Report) last announced its quarterly earnings data on Tuesday, April 21st. The asset manager reported $2.71 earnings per share for the quarter, topping 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 company had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same quarter last year, the firm posted $1.90 EPS. The firm's revenue for the quarter was up 13.8% on a year-over-year basis. As a group, research analysts forecast that Northern Trust Corporation will post 10.68 EPS for the current year.

Northern Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 5th will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Friday, June 5th. Northern Trust's payout ratio is presently 33.51%.

Insider Buying and Selling

In other Northern Trust news, CFO David W. Fox, Jr. sold 19,987 shares of Northern Trust stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $166.16, for a total transaction of $3,321,039.92. Following the completion of the transaction, the chief financial officer owned 18,588 shares of the company's stock, valued at $3,088,582.08. The trade was a 51.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Guy Gibson sold 3,009 shares of Northern Trust stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $142.39, for a total value of $428,451.51. Following the transaction, the insider directly owned 29,332 shares of the company's stock, valued at $4,176,583.48. The trade was a 9.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 30,514 shares of company stock worth $4,890,937 over the last quarter. 0.66% of the stock is owned by corporate insiders.

Northern Trust Company 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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