Northern Trust Co. (NASDAQ:NTRS) Shares Sold by Pinebridge Investments L.P.

Pinebridge Investments L.P. trimmed its holdings in shares of Northern Trust Co. (NASDAQ:NTRS - Free Report) by 8.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 279,980 shares of the asset manager's stock after selling 27,275 shares during the period. Pinebridge Investments L.P. owned about 0.14% of Northern Trust worth $28,698,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of NTRS. Y.D. More Investments Ltd lifted its stake in shares of Northern Trust by 118.4% during the fourth quarter. Y.D. More Investments Ltd now owns 249 shares of the asset manager's stock worth $26,000 after buying an additional 135 shares during the period. Assetmark Inc. lifted its holdings in shares of 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 purchasing an additional 317 shares during the period. Brooklyn Investment Group boosted its position in Northern Trust by 51.2% in the fourth quarter. Brooklyn Investment Group now owns 378 shares of the asset manager's stock valued at $39,000 after buying an additional 128 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in Northern Trust by 83.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 494 shares of the asset manager's stock worth $51,000 after buying an additional 224 shares during the last quarter. Finally, Friedenthal Financial purchased a new stake in shares of Northern Trust in the 4th quarter valued at $57,000. Hedge funds and other institutional investors own 83.19% of the company's stock.

Northern Trust Price Performance

NASDAQ:NTRS traded up $0.40 during trading hours on Monday, reaching $91.99. 243,939 shares of the company traded hands, compared to its average volume of 1,247,737. Northern Trust Co. has a 1-year low of $79.68 and a 1-year high of $114.67. The stock has a market cap of $18.00 billion, a P/E ratio of 9.40, a P/E/G ratio of 1.72 and a beta of 1.10. The firm's 50-day moving average is $97.80 and its 200-day moving average is $102.89. 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 (NASDAQ:NTRS - Get Free Report) last released its earnings results on Tuesday, April 22nd. The asset manager reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.05. Northern Trust had a return on equity of 13.74% and a net margin of 12.77%. The firm had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.95 billion. Equities research analysts expect that Northern Trust Co. will post 8.27 earnings per share for the current fiscal year.

Northern Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders 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 3.26%. The ex-dividend date is Friday, June 6th. Northern Trust's dividend payout ratio is presently 27.99%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on NTRS. Truist Financial cut their target price 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. The Goldman Sachs Group upped their target price on shares of Northern Trust from $92.00 to $102.00 and gave the stock a "sell" rating in a report on Friday, January 24th. Wells Fargo & Company lowered their price target on shares of Northern Trust from $118.00 to $111.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 23rd. Keefe, Bruyette & Woods increased their price objective on shares of Northern Trust from $113.00 to $122.00 and gave the company a "market perform" rating in a report on Friday, January 24th. Finally, Barclays lifted their price objective on Northern Trust from $115.00 to $118.00 and gave the stock an "equal weight" rating in a research report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $110.83.

Insiders Place Their Bets

In other news, EVP Thomas A. South sold 3,804 shares of the company'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 transaction, the executive vice president now directly owns 81,794 shares in the company, valued at approximately $9,242,722. This represents a 4.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Peter Cherecwich sold 26,132 shares of Northern Trust stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $112.36, for a total transaction of $2,936,191.52. Following the sale, the chief operating officer now directly owns 26,586 shares in the company, valued at $2,987,202.96. This trade represents a 49.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,335 shares of company stock worth $3,970,211 over the last quarter. 0.77% of the stock is owned by corporate insiders.

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.