Sumitomo Mitsui Trust Group Inc. Has $44.27 Million Position in Northern Trust Corporation (NASDAQ:NTRS)

Sumitomo Mitsui Trust Group Inc. cut its stake in Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 0.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 448,715 shares of the asset manager's stock after selling 3,454 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.23% of Northern Trust worth $44,266,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Sunbelt Securities Inc. raised its holdings in Northern Trust by 30.5% in the 1st quarter. Sunbelt Securities Inc. now owns 942 shares of the asset manager's stock valued at $93,000 after acquiring an additional 220 shares in the last quarter. U S Global Investors Inc. raised its holdings in Northern Trust by 68.3% in the 1st quarter. U S Global Investors Inc. now owns 11,950 shares of the asset manager's stock valued at $1,179,000 after acquiring an additional 4,850 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Northern Trust by 23.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,305 shares of the asset manager's stock valued at $2,653,000 after acquiring an additional 5,244 shares in the last quarter. Achmea Investment Management B.V. raised its holdings in Northern Trust by 1,299.7% in the 1st quarter. Achmea Investment Management B.V. now owns 115,024 shares of the asset manager's stock valued at $11,348,000 after acquiring an additional 106,806 shares in the last quarter. Finally, Canvas Wealth Advisors LLC raised its holdings in Northern Trust by 14.5% in the 1st quarter. Canvas Wealth Advisors LLC now owns 9,830 shares of the asset manager's stock valued at $970,000 after acquiring an additional 1,247 shares in the last quarter. 83.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on NTRS shares. Citigroup decreased their price target on Northern Trust from $110.00 to $105.00 and set a "neutral" rating on the stock in a research note on Monday, March 24th. The Goldman Sachs Group lifted their price target on Northern Trust from $89.00 to $101.00 and gave the company a "sell" rating in a research note on Wednesday. Royal Bank Of Canada decreased their price target on Northern Trust from $115.00 to $105.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Bank of America decreased their price target on Northern Trust from $123.00 to $121.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. Finally, Evercore ISI lifted their price target on Northern Trust from $108.00 to $121.00 and gave the company an "in-line" rating in a research note on Wednesday. Two equities research 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. According to MarketBeat.com, Northern Trust currently has an average rating of "Hold" and an average price target of $110.33.

Insider Activity

In other Northern Trust news, 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 transaction of $329,835.00. Following the transaction, the executive vice president directly owned 28,736 shares of the company's stock, valued at approximately $2,872,163.20. The trade was a 10.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 directly owned 79,391 shares in the company, valued at $7,988,322.42. The trade was a 7.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,772 shares of company stock worth $981,069 over the last ninety days. Company insiders own 0.77% of the company's stock.

Northern Trust Price Performance

NTRS stock traded up $4.07 during midday trading on Wednesday, reaching $132.06. 2,046,613 shares of the stock were exchanged, compared to its average volume of 1,425,200. The stock has a market capitalization of $25.69 billion, a PE ratio of 12.32, a P/E/G ratio of 1.92 and a beta of 1.26. Northern Trust Corporation has a 52 week low of $80.81 and a 52 week high of $132.09. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.71 and a quick ratio of 0.71. The company has a fifty day moving average price of $106.80 and a 200 day moving average price of $104.01.

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

Northern Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 6th were issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.27%. The ex-dividend date of this dividend was Friday, June 6th. Northern Trust's payout ratio is presently 27.99%.

About Northern Trust

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.