Voya Investment Management LLC reduced its position in shares of Northern Trust Co. (NASDAQ:NTRS - Free Report) by 7.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 57,289 shares of the asset manager's stock after selling 4,724 shares during the quarter. Voya Investment Management LLC's holdings in Northern Trust were worth $5,872,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Integrated Wealth Concepts LLC bought a new stake in shares of Northern Trust during the fourth quarter valued at approximately $230,000. Coppell Advisory Solutions LLC purchased a new stake in Northern Trust during the 4th quarter valued at $44,000. Quantessence Capital LLC bought a new stake in shares of Northern Trust in the 4th quarter worth $319,000. Hsbc Holdings PLC raised its stake in shares of Northern Trust by 3.8% in the fourth quarter. Hsbc Holdings PLC now owns 408,362 shares of the asset manager's stock worth $41,852,000 after purchasing an additional 15,025 shares during the last quarter. Finally, OneDigital Investment Advisors LLC bought a new position in shares of Northern Trust during the fourth quarter valued at $201,000. 83.19% of the stock is owned by hedge funds and other institutional investors.
Northern Trust Trading Down 0.1 %
Shares of NASDAQ:NTRS opened at $93.98 on Thursday. Northern Trust Co. has a 12-month low of $79.68 and a 12-month high of $114.67. The company has a market cap of $18.39 billion, a PE ratio of 9.61, a price-to-earnings-growth ratio of 1.72 and a beta of 1.10. The stock has a 50 day moving average of $96.60 and a 200 day moving average of $102.77. 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 (NASDAQ:NTRS - Get Free Report) last issued 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. The company had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.95 billion. Northern Trust had a net margin of 12.77% and a return on equity of 13.74%. As a group, equities research analysts expect that Northern Trust Co. will post 8.27 EPS for the current year.
Northern Trust Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 6th will be issued a $0.75 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.00 dividend on an annualized basis and a yield of 3.19%. Northern Trust's dividend payout ratio is presently 27.99%.
Insiders Place Their Bets
In related 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 transaction of $429,852.00. Following the completion of the transaction, the executive vice president now 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jane Karpinski sold 2,262 shares of Northern Trust stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $111.33, for a total transaction of $251,828.46. Following the completion of the sale, the executive vice president now owns 17,236 shares in the company, valued at approximately $1,918,883.88. This represents a 11.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,966 shares of company stock worth $781,976 in the last three months. 0.77% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
Several research firms recently commented on NTRS. Royal Bank of Canada reduced their price objective on Northern Trust from $115.00 to $105.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. UBS Group boosted their price objective 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. Citigroup dropped their target price on shares of Northern Trust from $110.00 to $105.00 and set a "neutral" rating on the stock in a report on Monday, March 24th. Truist Financial decreased their target price on shares of Northern Trust from $98.00 to $92.00 and set a "hold" rating for the company in a research note on Wednesday, April 23rd. Finally, Wells Fargo & Company dropped their price target on Northern Trust from $118.00 to $111.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Northern Trust presently has a consensus rating of "Hold" and an average price target of $110.83.
Get Our Latest Stock Analysis on NTRS
Northern Trust Company Profile
(
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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