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Sequoia Financial Advisors LLC Lowers Stock Holdings in Northern Trust Corporation (NASDAQ:NTRS)

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Sequoia Financial Advisors LLC trimmed its position in Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 58.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,579 shares of the asset manager's stock after selling 19,312 shares during the quarter. Sequoia Financial Advisors LLC's holdings in Northern Trust were worth $1,340,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of NTRS. Colonial Trust Co SC grew its holdings in shares of Northern Trust by 6,400.0% during the fourth quarter. Colonial Trust Co SC now owns 260 shares of the asset manager's stock worth $27,000 after purchasing an additional 256 shares in the last quarter. Continuum Advisory LLC grew its stake in Northern Trust by 5,340.0% in the 1st quarter. Continuum Advisory LLC now owns 272 shares of the asset manager's stock worth $27,000 after buying an additional 267 shares in the last quarter. Assetmark Inc. grew its stake 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 in the last quarter. Coppell Advisory Solutions LLC bought a new position in shares of Northern Trust in the 4th quarter worth $44,000. Finally, True Wealth Design LLC raised its position in shares of Northern Trust by 84.0% during the 4th quarter. True Wealth Design LLC now owns 425 shares of the asset manager's stock valued at $44,000 after buying an additional 194 shares in the last quarter. 83.19% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Northern Trust

In other news, insider Teresa Parker sold 6,467 shares of the business's stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $100.62, for a total transaction of $650,709.54. Following the transaction, the insider directly 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 sale, the executive vice president directly owned 28,736 shares of the company's stock, valued at $2,872,163.20. The trade was a 10.30% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,772 shares of company stock valued at $981,069. Company insiders own 0.77% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Truist Financial cut their target price on shares of Northern Trust from $98.00 to $92.00 and set a "hold" rating for the company in a research report on Wednesday, April 23rd. Bank of America dropped their price target on Northern Trust from $123.00 to $121.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. Wells Fargo & Company cut their price objective on Northern Trust from $118.00 to $111.00 and set an "equal weight" rating for the company in a report on Wednesday, April 23rd. Citigroup decreased their price objective on Northern Trust from $110.00 to $105.00 and set a "neutral" rating on the stock in a report on Monday, March 24th. Finally, Morgan Stanley boosted their target price on Northern Trust from $103.00 to $106.00 and gave the stock an "underweight" rating in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $108.67.

Check Out Our Latest Analysis on Northern Trust

Northern Trust Trading Up 0.9%

Northern Trust stock traded up $1.20 during trading hours on Tuesday, reaching $127.99. The company had a trading volume of 2,554,310 shares, compared to its average volume of 1,422,714. 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 Corporation has a 12-month low of $80.81 and a 12-month high of $128.14. The company has a 50-day moving average price of $106.03 and a 200 day moving average price of $103.84. The firm has a market cap of $24.90 billion, a price-to-earnings ratio of 11.94, a P/E/G ratio of 1.92 and a beta of 1.26.

Northern Trust (NASDAQ:NTRS - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The asset manager reported $1.90 EPS for the quarter, beating analysts' consensus estimates of $1.85 by $0.05. Northern Trust had a net margin of 13.93% and a return on equity of 13.73%. The company had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.95 billion. Equities analysts forecast that Northern Trust Corporation will post 8.27 earnings per share for the current year.

Northern Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 6th will be paid a $0.75 dividend. The ex-dividend date is Friday, June 6th. This represents a $3.00 annualized dividend and a dividend yield of 2.34%. Northern Trust's payout ratio is presently 27.99%.

Northern Trust Profile

(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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Institutional Ownership by Quarter for Northern Trust (NASDAQ:NTRS)

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