Northern Trust Co. (NASDAQ:NTRS) Shares Sold by Bank of Montreal Can

Bank of Montreal Can lowered its stake in shares of Northern Trust Co. (NASDAQ:NTRS - Free Report) by 26.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 209,944 shares of the asset manager's stock after selling 73,746 shares during the quarter. Bank of Montreal Can owned 0.11% of Northern Trust worth $21,519,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Ballentine Partners LLC increased its position in shares of Northern Trust by 4.4% in the 4th quarter. Ballentine Partners LLC now owns 2,483 shares of the asset manager's stock valued at $255,000 after purchasing an additional 105 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Northern Trust by 24.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,061 shares of the asset manager's stock valued at $2,286,000 after acquiring an additional 4,374 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Northern Trust by 9.9% during the third quarter. JPMorgan Chase & Co. now owns 4,296,442 shares of the asset manager's stock worth $386,809,000 after purchasing an additional 388,692 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Northern Trust by 0.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,267,406 shares of the asset manager's stock worth $129,909,000 after buying an additional 8,102 shares during the period. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Northern Trust during the fourth quarter worth approximately $7,437,000. 83.19% of the stock is owned by institutional investors and hedge funds.

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Northern Trust Price Performance

NASDAQ:NTRS traded down $0.54 during trading hours on Tuesday, reaching $89.27. 1,536,742 shares of the company traded hands, compared to its average volume of 1,262,358. Northern Trust Co. has a 1-year low of $79.32 and a 1-year high of $114.67. The stock has a market cap of $17.47 billion, a P/E ratio of 9.13, a P/E/G ratio of 1.72 and a beta of 1.10. The firm's 50-day moving average is $101.83 and its 200-day moving average is $102.93. 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 posted its quarterly earnings data on Thursday, January 23rd. The asset manager reported $2.26 EPS for the quarter, topping analysts' consensus estimates of $1.96 by $0.30. Northern Trust had a return on equity of 13.74% and a net margin of 12.77%. Equities research analysts expect that Northern Trust Co. will post 8.27 earnings per share for the current fiscal year.

Northern Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $3.00 dividend on an annualized basis and a yield of 3.36%. Northern Trust's dividend payout ratio (DPR) is currently 30.67%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. The Goldman Sachs Group boosted their target price on Northern Trust from $92.00 to $102.00 and gave the company a "sell" rating in a report on Friday, January 24th. Truist Financial reduced their target price on shares of Northern Trust from $116.00 to $98.00 and set a "hold" rating for the company in a research note on Friday, April 4th. Morgan Stanley reduced their price objective on shares of Northern Trust from $136.00 to $132.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 2nd. Bank of America cut their target price on Northern Trust from $123.00 to $121.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. Finally, StockNews.com downgraded Northern Trust from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $112.31.

Insiders Place Their Bets

In other Northern Trust news, EVP Jane Karpinski sold 2,262 shares of Northern Trust stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $111.33, for a total value of $251,828.46. Following the completion of the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Thomas A. South sold 3,804 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $113.00, for a total transaction of $429,852.00. Following the completion of the sale, the executive vice president now directly owns 81,794 shares in the company, valued at $9,242,722. This represents a 4.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 35,335 shares of company stock valued at $3,970,211. Company insiders own 0.77% of the company's stock.

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.