USS Investment Management Ltd reduced its stake in shares of Northern Trust Co. (NASDAQ:NTRS - Free Report) by 22.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,539 shares of the asset manager's stock after selling 14,413 shares during the period. USS Investment Management Ltd's holdings in Northern Trust were worth $5,076,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Y.D. More Investments Ltd lifted its position in shares of Northern Trust by 118.4% during the 4th quarter. Y.D. More Investments Ltd now owns 249 shares of the asset manager's stock valued at $26,000 after buying an additional 135 shares in the last quarter. 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. Assetmark Inc. lifted its holdings 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 purchasing an additional 317 shares in the last quarter. 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 worth $44,000 after purchasing an additional 194 shares in the last quarter. Finally, Coppell Advisory Solutions LLC purchased a new position in Northern Trust in the 4th quarter worth approximately $44,000. 83.19% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
NTRS has been the topic of a number of research analyst reports. Bank of America lowered their price target on Northern Trust from $123.00 to $121.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. The Goldman Sachs Group boosted their price target on Northern Trust from $92.00 to $102.00 and gave the stock a "sell" rating in a report on Friday, January 24th. Keefe, Bruyette & Woods boosted their price target on Northern Trust from $113.00 to $122.00 and gave the stock a "market perform" rating in a report on Friday, January 24th. Morgan Stanley lowered their price target on Northern Trust from $136.00 to $132.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 2nd. Finally, Evercore ISI lowered their price target on Northern Trust from $104.00 to $100.00 and set an "in-line" rating on the stock in a report on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $110.83.
Read Our Latest Analysis on Northern Trust
Northern Trust Stock Performance
NASDAQ:NTRS opened at $106.40 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.68 and a quick ratio of 0.71. Northern Trust Co. has a 1 year low of $79.68 and a 1 year high of $114.67. The stock's 50 day simple moving average is $96.16 and its two-hundred day simple moving average is $103.22. The company has a market cap of $20.70 billion, a price-to-earnings ratio of 10.88, a PEG ratio of 1.72 and a beta of 1.18.
Northern Trust (NASDAQ:NTRS - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The asset manager reported $1.90 earnings per share (EPS) 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 the consensus estimate of $1.95 billion. Northern Trust had a return on equity of 13.74% and a net margin of 12.77%. As a group, equities analysts anticipate that Northern Trust Co. will post 8.27 earnings per share for the current fiscal year.
Northern Trust Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 6th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 2.82%. The ex-dividend date of this dividend is Friday, June 6th. Northern Trust's dividend payout ratio is currently 27.99%.
Insider Activity
In other news, EVP Clive Bellows sold 3,300 shares of the business'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 transaction of $329,835.00. Following the transaction, the executive vice president now owns 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Teresa Parker sold 6,467 shares of the business's stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $100.62, for a total value of $650,709.54. Following the transaction, the insider now directly owns 79,391 shares in the company, valued at approximately $7,988,322.42. This represents a 7.53% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.77% of the company's stock.
About Northern Trust
(
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.
Further Reading
Want to see what other hedge funds are holding NTRS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Northern Trust Co. (NASDAQ:NTRS - Free Report).
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