Twinbeech Capital LP Trims Stock Position in Northern Trust Co. (NASDAQ:NTRS)

Twinbeech Capital LP lowered its position in Northern Trust Co. (NASDAQ:NTRS - Free Report) by 68.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 2,118 shares of the asset manager's stock after selling 4,496 shares during the period. Twinbeech Capital LP's holdings in Northern Trust were worth $217,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of NTRS. Y.D. More Investments Ltd boosted its holdings in Northern Trust by 118.4% in the 4th quarter. Y.D. More Investments Ltd now owns 249 shares of the asset manager's stock worth $26,000 after buying an additional 135 shares during the period. Colonial Trust Co SC boosted its holdings in Northern Trust by 6,400.0% in the 4th quarter. Colonial Trust Co SC now owns 260 shares of the asset manager's stock worth $27,000 after buying an additional 256 shares during the period. Assetmark Inc. boosted its holdings in Northern Trust by 528.3% in the 4th quarter. Assetmark Inc. now owns 377 shares of the asset manager's stock worth $39,000 after buying an additional 317 shares during the period. Coppell Advisory Solutions LLC bought a new position in Northern Trust in the 4th quarter worth $44,000. Finally, True Wealth Design LLC lifted its stake in Northern Trust by 84.0% in the 4th quarter. True Wealth Design LLC now owns 425 shares of the asset manager's stock worth $44,000 after purchasing an additional 194 shares in the last quarter. Institutional investors own 83.19% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Morgan Stanley decreased their price target on shares of Northern Trust from $136.00 to $132.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 2nd. Truist Financial decreased their price target on shares of 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 dropped their target price on shares of Northern Trust from $110.00 to $105.00 and set a "neutral" rating on the stock in a research note on Monday, March 24th. Evercore ISI dropped 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, Royal Bank of Canada dropped their target price on shares of Northern Trust from $115.00 to $105.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $110.83.

Northern Trust Stock Performance

NTRS stock traded down $0.27 during midday trading on Thursday, hitting $106.49. 533,729 shares of the stock traded hands, compared to its average volume of 1,289,983. The firm has a market cap of $20.72 billion, a P/E ratio of 10.88, a PEG ratio of 1.72 and a beta of 1.18. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.68 and a quick ratio of 0.71. The stock's fifty day simple moving average is $96.80 and its 200-day simple moving average is $103.28. Northern Trust Co. has a 1-year low of $79.68 and a 1-year high of $114.67.

Northern Trust (NASDAQ:NTRS - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The asset manager reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.05. The firm had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.95 billion. Northern Trust had a net margin of 12.77% and a return on equity of 13.74%. On average, analysts expect that Northern Trust Co. will post 8.27 earnings per share for the current year.

Northern Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 6th will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date is Friday, June 6th. Northern Trust's dividend payout ratio (DPR) is presently 27.99%.

Insiders Place Their Bets

In other Northern Trust news, insider Teresa Parker sold 6,467 shares of the business's stock in a transaction that occurred 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 transaction, the insider now owns 79,391 shares in the company, valued at $7,988,322.42. The trade was a 7.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Clive Bellows sold 3,300 shares of the business's 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 of the company's stock, valued at $2,872,163.20. This trade represents a 10.30% decrease in their position. The disclosure for this sale can be found here. 0.77% of the stock is owned by insiders.

Northern Trust Company 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.