Principal Financial Group Inc. decreased its holdings in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 1.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 231,699 shares of the asset manager's stock after selling 3,731 shares during the period. Principal Financial Group Inc. owned about 0.12% of Northern Trust worth $22,857,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently made changes to their positions in NTRS. Colonial Trust Co SC lifted its position in shares of Northern Trust by 6,400.0% during the 4th quarter. Colonial Trust Co SC now owns 260 shares of the asset manager's stock valued at $27,000 after buying an additional 256 shares in the last quarter. Continuum Advisory LLC lifted its position in shares of Northern Trust by 5,340.0% during the 1st quarter. Continuum Advisory LLC now owns 272 shares of the asset manager's stock valued at $27,000 after buying an additional 267 shares in the last quarter. Assetmark Inc. lifted its position in shares of Northern Trust by 528.3% during the 4th quarter. Assetmark Inc. now owns 377 shares of the asset manager's stock valued at $39,000 after buying an additional 317 shares in the last quarter. Coppell Advisory Solutions LLC purchased a new position in Northern Trust in the 4th quarter valued at $44,000. Finally, True Wealth Design LLC lifted its holdings in Northern Trust by 84.0% in the 4th quarter. True Wealth Design LLC now owns 425 shares of the asset manager's stock valued at $44,000 after purchasing an additional 194 shares in the last quarter. Hedge funds and other institutional investors own 83.19% of the company's stock.
Northern Trust Stock Down 1.2%
Shares of NTRS traded down $1.56 during midday trading on Friday, hitting $125.07. The company had a trading volume of 422,978 shares, compared to its average volume of 1,635,208. The company's 50-day simple moving average is $111.87 and its 200-day simple moving average is $105.28. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.71 and a current ratio of 0.71. The firm has a market capitalization of $24.33 billion, a P/E ratio of 11.67, a P/E/G ratio of 1.91 and a beta of 1.26. Northern Trust Corporation has a 1 year low of $80.81 and a 1 year high of $133.00.
Northern Trust (NASDAQ:NTRS - Get Free Report) last posted its 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 during the quarter, compared to analysts' expectations of $1.95 billion. Northern Trust had a return on equity of 13.73% and a net margin of 13.93%. As a group, sell-side analysts expect that Northern Trust Corporation will post 8.27 EPS for the current year.
Northern Trust Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 6th were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date was Friday, June 6th. Northern Trust's payout ratio is currently 27.99%.
Insider Buying and Selling
In other Northern Trust news, insider Teresa Parker sold 6,467 shares of the company'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 sale, the insider owned 79,391 shares of the company's stock, valued at approximately $7,988,322.42. This represents a 7.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Clive Bellows sold 3,300 shares of Northern Trust stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $99.95, for a total value of $329,835.00. Following the sale, the executive vice president owned 28,736 shares of the company's stock, valued at approximately $2,872,163.20. This represents a 10.30% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 9,772 shares of company stock worth $981,069. Corporate insiders own 0.77% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on NTRS shares. Bank of America decreased their price objective on Northern Trust from $123.00 to $121.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Royal Bank Of Canada set a $123.00 price objective on Northern Trust and gave the company an "outperform" rating in a report on Monday, June 30th. Morgan Stanley raised their target price on Northern Trust from $103.00 to $106.00 and gave the stock an "underweight" rating in a research note on Tuesday, July 1st. Wells Fargo & Company cut their target price on Northern Trust from $118.00 to $111.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 23rd. Finally, Keefe, Bruyette & Woods downgraded Northern Trust from a "market perform" rating to an "underperform" rating and raised their target price for the stock from $103.00 to $120.00 in a research note on Friday. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $114.50.
Check Out Our Latest Research Report on NTRS
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.
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