Northern Trust Co. (NASDAQ:NTRS) Shares Sold by Prana Capital Management LP

Prana Capital Management LP decreased its holdings in Northern Trust Co. (NASDAQ:NTRS - Free Report) by 35.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 91,190 shares of the asset manager's stock after selling 50,054 shares during the period. Prana Capital Management LP's holdings in Northern Trust were worth $9,347,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. JPMorgan Chase & Co. lifted its holdings in Northern Trust by 9.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,296,442 shares of the asset manager's stock worth $386,809,000 after buying an additional 388,692 shares during the last quarter. Czech National Bank lifted its stake in Northern Trust by 4.6% during the fourth quarter. Czech National Bank now owns 42,978 shares of the asset manager's stock worth $4,405,000 after purchasing an additional 1,903 shares during the last quarter. Brookstone Capital Management boosted its holdings in Northern Trust by 16.5% in the fourth quarter. Brookstone Capital Management now owns 8,526 shares of the asset manager's stock valued at $874,000 after purchasing an additional 1,210 shares in the last quarter. Cooper Financial Group increased its stake in Northern Trust by 5.9% in the fourth quarter. Cooper Financial Group now owns 2,478 shares of the asset manager's stock valued at $254,000 after purchasing an additional 139 shares during the last quarter. Finally, Pallas Capital Advisors LLC raised its holdings in Northern Trust by 1.8% during the fourth quarter. Pallas Capital Advisors LLC now owns 6,091 shares of the asset manager's stock worth $624,000 after purchasing an additional 107 shares in the last quarter. Hedge funds and other institutional investors own 83.19% of the company's stock.

Insider Activity at Northern Trust

In related news, insider Teresa Parker sold 6,467 shares of the business's stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $100.62, for a total value of $650,709.54. Following the completion of the transaction, the insider now owns 79,391 shares of the company's stock, valued at approximately $7,988,322.42. The trade was a 7.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Clive Bellows sold 3,300 shares of Northern Trust stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $99.95, for a total transaction of $329,835.00. Following the sale, the executive vice president now owns 28,736 shares of the company's stock, valued at approximately $2,872,163.20. This trade represents a 10.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,571 shares of company stock valued at $1,410,397. 0.77% of the stock is owned by corporate insiders.

Northern Trust Price Performance

Shares of NASDAQ:NTRS traded up $0.09 on Monday, reaching $107.99. 1,147,040 shares of the company were exchanged, compared to its average volume of 1,275,004. The company has a current ratio of 0.68, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. Northern Trust Co. has a 1-year low of $79.68 and a 1-year high of $114.67. The company has a 50-day moving average of $95.44 and a 200-day moving average of $103.08. The firm has a market cap of $21.01 billion, a price-to-earnings ratio of 11.04, a price-to-earnings-growth ratio of 1.72 and a beta of 1.18.

Northern Trust (NASDAQ:NTRS - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The asset manager reported $1.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.85 by $0.05. Northern Trust had a net margin of 12.77% and a return on equity of 13.74%. The company had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.95 billion. 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 disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 6th will be given a dividend of $0.75 per share. The ex-dividend date is Friday, June 6th. This represents a $3.00 annualized dividend and a dividend yield of 2.78%. Northern Trust's dividend payout ratio is currently 27.99%.

Analysts Set New Price Targets

NTRS has been the subject of a number of research reports. Citigroup reduced their price objective on Northern Trust from $110.00 to $105.00 and set a "neutral" rating for the company in a research note on Monday, March 24th. Royal Bank of Canada reduced their price target on shares of Northern Trust from $115.00 to $105.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. Truist Financial lowered their price objective on shares of Northern Trust from $98.00 to $92.00 and set a "hold" rating on the stock in a research report on Wednesday, April 23rd. UBS Group upped their target price on shares of Northern Trust from $110.00 to $114.00 and gave the company a "neutral" rating in a report on Monday, January 27th. Finally, The Goldman Sachs Group raised 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. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $110.83.

About Northern Trust

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.