California Public Employees Retirement System cut its stake in Northern Trust Co. (NASDAQ:NTRS - Free Report) by 3.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 345,583 shares of the asset manager's stock after selling 13,658 shares during the period. California Public Employees Retirement System owned 0.17% of Northern Trust worth $35,422,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently modified their holdings of NTRS. JPMorgan Chase & Co. raised 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 purchasing an additional 388,692 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of 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 last quarter. KBC Group NV lifted its holdings in Northern Trust by 201.6% in the fourth quarter. KBC Group NV now owns 963,811 shares of the asset manager's stock valued at $98,791,000 after buying an additional 644,261 shares during the period. Boston Trust Walden Corp lifted its holdings in Northern Trust by 1.6% in the fourth quarter. Boston Trust Walden Corp now owns 928,854 shares of the asset manager's stock valued at $95,208,000 after buying an additional 14,362 shares during the period. Finally, Norges Bank bought a new position in Northern Trust in the fourth quarter valued at approximately $83,550,000. 83.19% of the stock is currently owned by institutional investors and hedge funds.
Northern Trust Stock Down 0.6 %
NASDAQ:NTRS traded down $0.51 during trading hours on Monday, reaching $85.50. 2,077,817 shares of the stock were exchanged, compared to its average volume of 1,244,209. The stock has a market cap of $16.73 billion, a PE ratio of 8.74, a PEG ratio of 1.72 and a beta of 1.10. Northern Trust Co. has a twelve month low of $79.32 and a twelve month high of $114.67. The firm has a 50 day moving average of $105.11 and a 200 day moving average of $103.12. 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 announced its earnings results on Thursday, January 23rd. The asset manager reported $2.26 EPS for the quarter, topping the consensus estimate of $1.96 by $0.30. Northern Trust had a net margin of 12.77% and a return on equity of 13.74%. On average, equities analysts expect that Northern Trust Co. will post 8.27 earnings per share for the current year.
Northern Trust Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date was Friday, March 14th. Northern Trust's dividend payout ratio is currently 30.67%.
Insider Buying and Selling
In related news, EVP Thomas A. South sold 3,804 shares of the firm's stock in a transaction dated 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 directly owns 81,794 shares in the company, valued at approximately $9,242,722. This trade represents a 4.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Peter Cherecwich sold 26,132 shares of the business's stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $112.36, for a total value of $2,936,191.52. Following the transaction, the chief operating officer now directly owns 26,586 shares in the company, valued at approximately $2,987,202.96. This trade represents a 49.57 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,335 shares of company stock worth $3,970,211. Corporate insiders own 0.77% of the company's stock.
Analyst Upgrades and Downgrades
Several research firms have recently issued reports on NTRS. UBS Group raised their price target on Northern Trust from $110.00 to $114.00 and gave the stock a "neutral" rating in a research report on Monday, January 27th. Citigroup reduced their target price on Northern Trust from $110.00 to $105.00 and set a "neutral" rating on the stock in a report on Monday, March 24th. Barclays upped their price target on Northern Trust from $115.00 to $118.00 and gave the company an "equal weight" rating in a research note on Monday, January 6th. StockNews.com lowered shares of Northern Trust from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. Finally, Bank of America lowered their target price on shares of Northern Trust from $123.00 to $121.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $112.31.
Check Out Our Latest Analysis on Northern Trust
Northern Trust 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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