Northern Trust Co. (NASDAQ:NTRS) Stock Holdings Reduced by Handelsbanken Fonder AB

Handelsbanken Fonder AB trimmed its stake in Northern Trust Co. (NASDAQ:NTRS - Free Report) by 6.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 61,503 shares of the asset manager's stock after selling 4,177 shares during the quarter. Handelsbanken Fonder AB's holdings in Northern Trust were worth $6,067,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. KLP Kapitalforvaltning AS bought a new stake in shares of Northern Trust during the 4th quarter valued at $7,437,000. Charles Schwab Investment Management Inc. increased its holdings in Northern Trust by 0.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,267,406 shares of the asset manager's stock worth $129,909,000 after purchasing an additional 8,102 shares during the period. AustralianSuper Pty Ltd increased its holdings in Northern Trust by 16.7% during the fourth quarter. AustralianSuper Pty Ltd now owns 91,222 shares of the asset manager's stock valued at $9,350,000 after buying an additional 13,081 shares during the period. Atria Investments Inc grew its stake in Northern Trust by 9.5% in the fourth quarter. Atria Investments Inc now owns 3,385 shares of the asset manager's stock valued at $347,000 after purchasing an additional 293 shares during the last quarter. Finally, Taika Capital LP purchased a new position in Northern Trust in the fourth quarter worth $360,000. Institutional investors own 83.19% of the company's stock.

Insider Activity

In related news, insider Teresa Parker sold 6,467 shares of Northern Trust stock in a transaction dated 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 owns 79,391 shares of the company's stock, valued at approximately $7,988,322.42. This trade represents a 7.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Clive Bellows sold 3,300 shares of Northern Trust stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $99.95, for a total transaction of $329,835.00. Following the transaction, the executive vice president now owns 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. In the last quarter, insiders sold 9,772 shares of company stock worth $981,069. Corporate insiders own 0.77% of the company's stock.

Northern Trust Price Performance

NTRS traded up $3.16 on Monday, reaching $110.91. The company had a trading volume of 1,838,554 shares, compared to its average volume of 1,299,781. The company has a fifty day moving average of $100.27 and a 200-day moving average of $103.13. The company has a market capitalization of $21.58 billion, a P/E ratio of 11.34, a PEG ratio of 1.72 and a beta of 1.22. 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 Co. has a one year low of $80.45 and a one year high of $114.67.

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

Northern Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 6th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.00 annualized dividend and a dividend yield of 2.70%. Northern Trust's dividend payout ratio (DPR) is 27.99%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Truist Financial lowered their target price on Northern Trust from $98.00 to $92.00 and set a "hold" rating on the stock in a research note on Wednesday, April 23rd. Citigroup cut their target price on Northern Trust from $110.00 to $105.00 and set a "neutral" rating on the stock in a research report on Monday, March 24th. Wall Street Zen lowered shares of Northern Trust from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. Evercore ISI cut their target price on shares of Northern Trust from $104.00 to $100.00 and set an "in-line" rating on the stock in a research note on Wednesday, April 23rd. Finally, Bank of America cut their target price on shares of Northern Trust from $123.00 to $121.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued 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 target price of $108.42.

Northern Trust Profile

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.