Adage Capital Partners GP L.L.C. Has $18.39 Million Stake in Northern Trust Co. (NASDAQ:NTRS)

Adage Capital Partners GP L.L.C. reduced its position in shares of Northern Trust Co. (NASDAQ:NTRS - Free Report) by 5.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 179,450 shares of the asset manager's stock after selling 10,650 shares during the period. Adage Capital Partners GP L.L.C. owned about 0.09% of Northern Trust worth $18,394,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of NTRS. Juncture Wealth Strategies LLC boosted its position in Northern Trust by 2.4% during the 4th quarter. Juncture Wealth Strategies LLC now owns 4,212 shares of the asset manager's stock worth $432,000 after acquiring an additional 100 shares during the last quarter. Ballentine Partners LLC boosted its holdings in Northern Trust by 4.4% during the fourth quarter. Ballentine Partners LLC now owns 2,483 shares of the asset manager's stock worth $255,000 after purchasing an additional 105 shares during the last quarter. Pallas Capital Advisors LLC grew its position in Northern Trust by 1.8% in the fourth quarter. Pallas Capital Advisors LLC now owns 6,091 shares of the asset manager's stock valued at $624,000 after purchasing an additional 107 shares in the last quarter. Bradley Foster & Sargent Inc. CT increased its stake in Northern Trust by 2.4% in the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 4,774 shares of the asset manager's stock valued at $489,000 after buying an additional 114 shares during the last quarter. Finally, Brooklyn Investment Group lifted its position in Northern Trust by 51.2% during the 4th quarter. Brooklyn Investment Group now owns 378 shares of the asset manager's stock worth $39,000 after buying an additional 128 shares in the last quarter. 83.19% of the stock is currently owned by institutional investors.

Insider Transactions at Northern Trust

In other news, COO Peter Cherecwich sold 26,132 shares of the firm's stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $112.36, for a total transaction of $2,936,191.52. Following the transaction, the chief operating officer now directly owns 26,586 shares of the company's stock, valued at approximately $2,987,202.96. This trade represents a 49.57 % 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 hyperlink. Also, EVP Thomas A. South sold 3,804 shares of the business's stock in a transaction that occurred 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 of the company's stock, valued at approximately $9,242,722. This trade represents a 4.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,335 shares of company stock valued at $3,970,211. 0.77% of the stock is currently owned by corporate insiders.

Northern Trust Stock Performance

Shares of NTRS stock opened at $91.59 on Friday. Northern Trust Co. has a 52 week low of $79.68 and a 52 week high of $114.67. The company has a market capitalization of $17.92 billion, a price-to-earnings ratio of 9.37, a PEG ratio of 1.72 and a beta of 1.10. The company has a 50-day simple moving average of $97.80 and a 200 day simple moving average of $102.81. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.68.

Northern Trust (NASDAQ:NTRS - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The asset manager reported $1.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.85 by $0.05. The company had revenue of $1.95 billion during the quarter, compared to analysts' expectations of $1.95 billion. Northern Trust had a return on equity of 13.74% and a net margin of 12.77%. On average, sell-side analysts predict that Northern Trust Co. will post 8.27 earnings per share for the current year.

Northern Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 6th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 3.28%. The ex-dividend date of this dividend is Friday, June 6th. Northern Trust's payout ratio is 27.99%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on NTRS shares. Bank of America decreased their price objective on Northern Trust from $123.00 to $121.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. Barclays upped their price objective on Northern Trust from $115.00 to $118.00 and gave the stock an "equal weight" rating in a research note on Monday, January 6th. Royal Bank of Canada decreased their target price on shares of Northern Trust from $115.00 to $105.00 and set an "outperform" rating for the company in a research note on Wednesday. Truist Financial lowered their target price on shares of Northern Trust from $98.00 to $92.00 and set a "hold" rating on the stock in a report on Wednesday. Finally, Evercore ISI cut their price target on shares of Northern Trust from $104.00 to $100.00 and set an "in-line" rating for the company in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, Northern Trust has a consensus rating of "Hold" and a consensus price target of $110.83.

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.

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