Vest Financial LLC Sells 99,620 Shares of Northern Trust Corporation $NTRS

Key Points

• Vest Financial LLC cut its position in Northern Trust by 66.8% in Q4, selling 99,620 shares and leaving 49,571 shares valued at about $6.77 million.
• Northern Trust beat quarterly estimates with $2.71 EPS (vs. $2.37 expected) and $2.21 billion in revenue (up 13.8% YoY), and declared a $0.80 quarterly dividend (annualized $3.20, ~1.9% yield).

Vest Financial LLC decreased its position in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 66.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 49,571 shares of the asset manager's stock after selling 99,620 shares during the quarter. Vest Financial LLC's holdings in Northern Trust were worth $6,771,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of NTRS. Triumph Capital Management bought a new position in shares of Northern Trust during the 3rd quarter valued at about $25,000. Board of the Pension Protection Fund acquired a new stake in Northern Trust during the 4th quarter worth approximately $27,000. Olistico Wealth LLC bought a new position in Northern Trust in the fourth quarter valued at approximately $41,000. True Wealth Design LLC boosted its holdings in shares of Northern Trust by 98.7% in the fourth quarter. True Wealth Design LLC now owns 314 shares of the asset manager's stock valued at $43,000 after buying an additional 156 shares during the period. Finally, Torren Management LLC acquired a new stake in shares of Northern Trust during the fourth quarter worth $46,000. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Northern Trust Stock Performance

NTRS opened at $166.90 on Wednesday. The company has a quick ratio of 0.69, a current ratio of 0.62 and a debt-to-equity ratio of 0.51. Northern Trust Corporation has a 12-month low of $91.74 and a 12-month high of $173.18. The business has a 50 day moving average of $146.47 and a 200-day moving average of $140.49. The stock has a market cap of $30.93 billion, a price-to-earnings ratio of 17.48, a PEG ratio of 1.21 and a beta of 1.23.

Northern Trust (NASDAQ:NTRS - Get Free Report) last released its quarterly earnings data on Tuesday, April 21st. The asset manager reported $2.71 EPS for the quarter, beating the consensus estimate of $2.37 by $0.34. Northern Trust had a net margin of 12.84% and a return on equity of 15.94%. The firm had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the previous year, the company earned $1.90 earnings per share. The company's quarterly revenue was up 13.8% on a year-over-year basis. On average, equities research analysts expect that Northern Trust Corporation will post 10.58 earnings per share for the current year.

Northern Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Friday, June 5th will be paid a $0.80 dividend. The ex-dividend date is Friday, June 5th. This represents a $3.20 annualized dividend and a dividend yield of 1.9%. Northern Trust's dividend payout ratio is 33.51%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on NTRS. TD Cowen lifted their price target on Northern Trust from $165.00 to $175.00 and gave the company a "buy" rating in a research note on Monday, January 26th. Citigroup assumed coverage on Northern Trust in a research report on Monday, February 23rd. They set a "neutral" rating for the company. Truist Financial lifted their price objective on shares of Northern Trust from $155.00 to $176.00 and gave the company a "hold" rating in a report on Wednesday, April 22nd. Barclays raised their target price on shares of Northern Trust from $160.00 to $176.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 22nd. Finally, Wells Fargo & Company increased their price objective on shares of Northern Trust from $150.00 to $175.00 and gave the stock an "equal weight" rating in a research note on Wednesday, April 22nd. Four investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, Northern Trust has an average rating of "Hold" and an average price target of $163.55.

Insider Buying and Selling at Northern Trust

In related news, insider Clive Bellows sold 2,800 shares of the business's stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $165.02, for a total value of $462,056.00. Following the completion of the sale, the insider directly owned 28,217 shares in the company, valued at approximately $4,656,369.34. The trade was a 9.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO David W. Fox, Jr. sold 3,255 shares of the firm's stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $143.89, for a total value of $468,361.95. Following the transaction, the chief financial officer owned 14,552 shares in the company, valued at approximately $2,093,887.28. This trade represents a 18.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 12,705 shares of company stock valued at $1,888,270 in the last quarter. Company insiders own 0.66% of the company's stock.

Northern Trust Company Profile

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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