Earnest Partners LLC cut its holdings in shares of Northern Trust Co. (NASDAQ:NTRS - Free Report) by 8.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 85,263 shares of the asset manager's stock after selling 7,818 shares during the quarter. Earnest Partners LLC's holdings in Northern Trust were worth $8,739,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of NTRS. Y.D. More Investments Ltd lifted its position in Northern Trust by 118.4% during the fourth quarter. Y.D. More Investments Ltd now owns 249 shares of the asset manager's stock valued at $26,000 after purchasing an additional 135 shares during the period. Empirical Asset Management LLC purchased a new position in shares of Northern Trust during the 4th quarter valued at about $33,000. Brooklyn Investment Group boosted its stake in shares of Northern Trust by 51.2% in the fourth quarter. Brooklyn Investment Group now owns 378 shares of the asset manager's stock worth $39,000 after buying an additional 128 shares during the last quarter. 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 worth $39,000 after acquiring an additional 317 shares during the period. Finally, Coppell Advisory Solutions LLC purchased a new position in Northern Trust during the fourth quarter valued at approximately $44,000. 83.19% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of brokerages have recently commented on NTRS. Keefe, Bruyette & Woods raised their price objective on shares of Northern Trust from $113.00 to $122.00 and gave the stock a "market perform" rating in a research note on Friday, January 24th. Truist Financial cut their price objective on shares of Northern Trust from $98.00 to $92.00 and set a "hold" rating for the company in a report on Wednesday, April 23rd. Barclays increased their target price on shares of Northern Trust from $115.00 to $118.00 and gave the stock an "equal weight" rating in a research note on Monday, January 6th. Wells Fargo & Company cut their price target on Northern Trust from $118.00 to $111.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 23rd. Finally, Evercore ISI reduced their price target on Northern Trust from $104.00 to $100.00 and set an "in-line" rating for the company in a report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $110.83.
Read Our Latest Stock Report on NTRS
Insider Buying and Selling at Northern Trust
In other news, EVP Thomas A. South sold 3,804 shares of the firm's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $113.00, for a total value of $429,852.00. Following the completion of the sale, the executive vice president now owns 81,794 shares in the company, valued at approximately $9,242,722. This trade represents a 4.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jane Karpinski sold 2,262 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $111.33, for a total value of $251,828.46. Following the transaction, the executive vice president now owns 17,236 shares in the company, valued at $1,918,883.88. The trade was a 11.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,966 shares of company stock worth $781,976 in the last ninety days. 0.77% of the stock is owned by insiders.
Northern Trust Price Performance
Shares of NASDAQ:NTRS traded up $2.58 during trading on Friday, reaching $97.52. The stock had a trading volume of 1,332,242 shares, compared to its average volume of 1,253,309. The business has a fifty day moving average price of $96.24 and a 200-day moving average price of $102.77. Northern Trust Co. has a 1-year low of $79.68 and a 1-year high of $114.67. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.68. The stock has a market cap of $19.08 billion, a PE ratio of 9.97, a PEG ratio of 1.72 and a beta of 1.10.
Northern Trust (NASDAQ:NTRS - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The asset manager reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.05. The company had revenue of $1.95 billion for the quarter, compared to analysts' expectations of $1.95 billion. Northern Trust had a net margin of 12.77% and a return on equity of 13.74%. On average, equities analysts forecast 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. Shareholders of record on Friday, June 6th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date of this dividend is Friday, June 6th. Northern Trust's dividend payout ratio (DPR) is presently 27.99%.
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.
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