Nuance Investments LLC Sells 94,223 Shares of Northern Trust Corporation $NTRS

Key Points

• Nuance Investments LLC cut its Northern Trust stake by 67.1% in the fourth quarter, selling 94,223 shares and ending with 46,300 shares valued at about $6.3 million.
• Northern Trust beat earnings expectations in its latest quarterly report, posting $2.71 EPS versus $2.37 expected and revenue of $2.21 billion, up 13.8% year over year.
• The company announced a quarterly dividend of $0.80 per share payable July 1, implying an annualized yield of about 1.9%; analysts currently rate the stock a consensus Hold with an average target price of $164.08.

Nuance Investments LLC reduced its stake in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 67.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 46,300 shares of the asset manager's stock after selling 94,223 shares during the quarter. Nuance Investments LLC's holdings in Northern Trust were worth $6,324,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in NTRS. Triumph Capital Management bought a new position in shares of Northern Trust during the third quarter valued at approximately $25,000. Board of the Pension Protection Fund bought a new position in shares of Northern Trust during the fourth quarter valued at approximately $27,000. Elyxium Wealth LLC bought a new position in shares of Northern Trust during the fourth quarter valued at approximately $34,000. International Assets Investment Management LLC bought a new position in shares of Northern Trust during the fourth quarter valued at approximately $35,000. Finally, Olistico Wealth LLC bought a new position in shares of Northern Trust during the fourth quarter valued at approximately $41,000. 83.19% of the stock is owned by institutional investors.

Northern Trust Stock Down 1.5%

Shares of NASDAQ:NTRS opened at $170.47 on Friday. The business's 50 day moving average is $159.53 and its 200 day moving average is $147.30. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.51. The stock has a market cap of $31.55 billion, a P/E ratio of 17.85, a price-to-earnings-growth ratio of 1.24 and a beta of 1.25. Northern Trust Corporation has a 52-week low of $106.86 and a 52-week high of $173.66.

Northern Trust (NASDAQ:NTRS - Get Free Report) last posted its earnings results on Tuesday, April 21st. The asset manager reported $2.71 earnings per share for the quarter, topping analysts' consensus estimates of $2.37 by $0.34. The company had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.13 billion. Northern Trust had a return on equity of 15.94% and a net margin of 12.84%.Northern Trust's revenue was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.90 earnings per share. Sell-side analysts predict that Northern Trust Corporation will post 10.68 EPS for the current year.

Northern Trust Dividend Announcement

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. The ex-dividend date is Friday, June 5th. This represents a $3.20 dividend on an annualized basis and a yield of 1.9%. Northern Trust's dividend payout ratio is currently 33.51%.

Wall Street Analyst Weigh In

NTRS has been the topic of a number of analyst reports. JPMorgan Chase & Co. upped their target price on Northern Trust from $153.50 to $170.00 and gave the company a "neutral" rating in a research note on Monday, May 11th. Royal Bank Of Canada upped their target price on Northern Trust from $159.00 to $178.00 and gave the company an "outperform" rating in a research note on Wednesday, April 22nd. Citigroup initiated coverage on Northern Trust in a research note on Monday, February 23rd. They set a "neutral" rating on the stock. BMO Capital Markets raised Northern Trust from a "market perform" rating to an "outperform" rating and set a $168.00 target price on the stock in a research note on Monday, April 6th. Finally, Wells Fargo & Company increased their price objective on Northern Trust from $150.00 to $175.00 and gave the stock an "equal weight" rating in a research note on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $164.08.

Insiders Place Their Bets

In other Northern Trust news, insider Clive Bellows sold 2,800 shares of the company's stock in a transaction on Friday, April 24th. The stock was sold at an average price of $165.02, for a total transaction of $462,056.00. Following the completion of the sale, the insider owned 28,217 shares in the company, valued at $4,656,369.34. This represents a 9.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO David W. Fox, Jr. sold 19,987 shares of the company's stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $166.16, for a total value of $3,321,039.92. Following the sale, the chief financial officer owned 18,588 shares of the company's stock, valued at approximately $3,088,582.08. This represents a 51.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 22,800 shares of company stock worth $3,785,251 over the last 90 days. Company insiders own 0.66% of the company's stock.

About Northern Trust

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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