Y Intercept Hong Kong Ltd Sells 10,704 Shares of Northern Trust Corporation (NASDAQ:NTRS)

Y Intercept Hong Kong Ltd decreased its holdings in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 48.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,232 shares of the asset manager's stock after selling 10,704 shares during the period. Y Intercept Hong Kong Ltd's holdings in Northern Trust were worth $1,108,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Van Strum & Towne Inc. purchased a new stake in shares of Northern Trust during the 1st quarter worth approximately $424,000. Horizon Investment Services LLC increased its holdings in shares of Northern Trust by 260.5% during the 1st quarter. Horizon Investment Services LLC now owns 35,101 shares of the asset manager's stock worth $3,463,000 after buying an additional 25,363 shares during the last quarter. Allianz Asset Management GmbH increased its holdings in Northern Trust by 529.4% in the 1st quarter. Allianz Asset Management GmbH now owns 461,383 shares of the asset manager's stock valued at $45,515,000 after purchasing an additional 388,081 shares in the last quarter. Wealth Alliance LLC acquired a new stake in Northern Trust in the 1st quarter valued at $429,000. Finally, Teachers Retirement System of The State of Kentucky grew its stake in shares of Northern Trust by 2.3% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 15,293 shares of the asset manager's stock valued at $1,509,000 after acquiring an additional 337 shares in the last quarter. Institutional investors and hedge funds own 83.19% of the company's stock.

Wall Street Analysts Forecast Growth

NTRS has been the subject of several recent analyst reports. Wall Street Zen upgraded Northern Trust from a "sell" rating to a "hold" rating in a research note on Saturday. Wolfe Research upgraded Northern Trust from an "underperform" rating to a "peer perform" rating in a research report on Thursday. Evercore ISI boosted their target price on Northern Trust from $108.00 to $121.00 and gave the stock an "in-line" rating in a report on Wednesday, July 2nd. Wells Fargo & Company upped their price target on Northern Trust from $111.00 to $120.00 and gave the company an "equal weight" rating in a report on Thursday. Finally, Truist Financial boosted their target price on shares of Northern Trust from $116.00 to $126.00 and gave the company a "hold" rating in a research note on Thursday, July 3rd. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $116.58.

Insiders Place Their Bets

In related news, EVP Clive Bellows sold 3,300 shares of the firm's stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $99.95, for a total transaction of $329,835.00. Following the sale, the executive vice president directly owned 28,736 shares in the company, valued at $2,872,163.20. This trade represents a 10.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Teresa Parker sold 6,467 shares of the firm's stock in a transaction 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 sale, the insider owned 79,391 shares in the company, valued at approximately $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. Over the last 90 days, insiders have sold 9,772 shares of company stock worth $981,069. 0.77% of the stock is currently owned by company insiders.

Northern Trust Trading Up 1.0%

NTRS traded up $1.27 during mid-day trading on Friday, hitting $130.03. The stock had a trading volume of 1,158,006 shares, compared to its average volume of 1,868,366. The stock's fifty day simple moving average is $117.19 and its 200-day simple moving average is $107.07. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.72 and a quick ratio of 0.71. The firm has a market capitalization of $25.30 billion, a price-to-earnings ratio of 15.28, a price-to-earnings-growth ratio of 1.91 and a beta of 1.26. Northern Trust Corporation has a 1-year low of $80.81 and a 1-year high of $133.00.

Northern Trust (NASDAQ:NTRS - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The asset manager reported $2.13 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.05. The company had revenue of $2 billion for the quarter, compared to analyst estimates of $1.96 billion. Northern Trust had a net margin of 11.75% and a return on equity of 14.06%. The business's revenue for the quarter was down 26.4% compared to the same quarter last year. During the same period last year, the business posted $4.34 earnings per share. As a group, research analysts forecast that Northern Trust Corporation will post 8.27 EPS for the current fiscal year.

Northern Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 5th will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.46%. This is a positive change from Northern Trust's previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Friday, September 5th. Northern Trust's dividend payout ratio (DPR) is presently 35.25%.

Northern Trust Company 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.