Thompson Investment Management Inc. Sells 2,623 Shares of Northern Trust Co. (NASDAQ:NTRS)

Thompson Investment Management Inc. reduced its stake in Northern Trust Co. (NASDAQ:NTRS - Free Report) by 4.1% during the first quarter, according to its most recent filing with the SEC. The fund owned 61,155 shares of the asset manager's stock after selling 2,623 shares during the quarter. Thompson Investment Management Inc.'s holdings in Northern Trust were worth $6,033,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Colonial Trust Co SC grew 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 acquiring an additional 256 shares during the period. Assetmark Inc. grew its holdings in Northern Trust by 528.3% during the fourth quarter. Assetmark Inc. now owns 377 shares of the asset manager's stock valued at $39,000 after purchasing an additional 317 shares during the period. True Wealth Design LLC increased its position in Northern Trust by 84.0% in the fourth quarter. True Wealth Design LLC now owns 425 shares of the asset manager's stock worth $44,000 after buying an additional 194 shares during the last quarter. Coppell Advisory Solutions LLC bought a new stake in shares of Northern Trust in the fourth quarter valued at $44,000. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Northern Trust by 83.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 494 shares of the asset manager's stock valued at $51,000 after buying an additional 224 shares during the last quarter. Institutional investors own 83.19% of the company's stock.

Northern Trust Price Performance

Shares of NTRS stock traded up $0.62 during trading on Thursday, hitting $109.06. The company had a trading volume of 1,000,383 shares, compared to its average volume of 1,297,496. The stock's 50-day moving average is $99.28 and its two-hundred day moving average is $103.25. The stock has a market capitalization of $21.22 billion, a price-to-earnings ratio of 11.15, a price-to-earnings-growth ratio of 1.72 and a beta of 1.22. The company has a quick ratio of 0.71, a current ratio of 0.68 and a debt-to-equity ratio of 0.58. Northern Trust Co. has a 52 week low of $80.45 and a 52 week high of $114.67.

Northern Trust (NASDAQ:NTRS - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The asset manager reported $1.90 EPS for the quarter, topping analysts' consensus estimates of $1.85 by $0.05. The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.95 billion. Northern Trust had a net margin of 12.77% and a return on equity of 13.74%. As a group, analysts predict that Northern Trust Co. will post 8.27 EPS for the current fiscal year.

Northern Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 6th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.00 dividend on an annualized basis and a yield of 2.75%. Northern Trust's payout ratio is 27.99%.

Insiders Place Their Bets

In other Northern Trust news, EVP Clive Bellows sold 3,300 shares of the company'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 value of $329,835.00. Following the completion of the sale, the executive vice president now owns 28,736 shares of the company's stock, valued at $2,872,163.20. This represents a 10.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Teresa Parker sold 6,467 shares of Northern Trust 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 now directly owns 79,391 shares in the company, valued at $7,988,322.42. This trade represents a 7.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,772 shares of company stock valued at $981,069 over the last 90 days. Insiders own 0.77% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Citigroup lowered their price objective 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. Evercore ISI dropped their price target 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. Morgan Stanley reiterated an "underweight" rating and issued a $103.00 price objective (up from $101.00) on shares of Northern Trust in a research note on Tuesday, June 3rd. Wall Street Zen downgraded Northern Trust from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. Finally, Truist Financial reduced their price target on Northern Trust from $98.00 to $92.00 and set a "hold" rating for the company in a research report on Wednesday, April 23rd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, Northern Trust has a consensus rating of "Hold" and a consensus target price of $108.42.

Northern Trust 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.