CANADA LIFE ASSURANCE Co reduced its stake in shares of Northern Trust Co. (NASDAQ:NTRS - Free Report) by 2.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 433,209 shares of the asset manager's stock after selling 8,929 shares during the quarter. CANADA LIFE ASSURANCE Co owned 0.22% of Northern Trust worth $44,334,000 as of its most recent filing with the SEC.
A number of other institutional investors have also made changes to their positions in the company. Massachusetts Financial Services Co. MA raised its stake in shares of Northern Trust by 1.2% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,486,616 shares of the asset manager's stock valued at $767,378,000 after purchasing an additional 92,162 shares in the last quarter. Geode Capital Management LLC boosted its stake in Northern Trust by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 4,904,871 shares of the asset manager's stock valued at $501,444,000 after purchasing an additional 30,908 shares during the period. JPMorgan Chase & Co. grew its holdings in Northern Trust by 9.9% in 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 in the last quarter. Invesco Ltd. increased its holdings in shares of Northern Trust by 7.5% during the fourth quarter. Invesco Ltd. now owns 2,885,312 shares of the asset manager's stock valued at $295,744,000 after purchasing an additional 202,327 shares during the period. Finally, Wellington Management Group LLP increased its stake in Northern Trust by 1.6% during the 4th quarter. Wellington Management Group LLP now owns 2,532,401 shares of the asset manager's stock valued at $259,571,000 after buying an additional 39,592 shares during the period. 83.19% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities research analysts have weighed in on the stock. Royal Bank of Canada cut their price target on shares of Northern Trust from $115.00 to $105.00 and set an "outperform" rating for the company in a report on Wednesday. Citigroup lowered their target price on Northern Trust from $110.00 to $105.00 and set a "neutral" rating on the stock in a research note on Monday, March 24th. StockNews.com downgraded shares of Northern Trust from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. Barclays raised their price target on shares of Northern Trust from $115.00 to $118.00 and gave the company an "equal weight" rating in a report on Monday, January 6th. Finally, Wells Fargo & Company decreased their target price on Northern Trust from $118.00 to $111.00 and set an "equal weight" rating for the company in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, Northern Trust has a consensus rating of "Hold" and a consensus price target of $110.83.
Read Our Latest Stock Report on Northern Trust
Insider Transactions at Northern Trust
In other news, insider Jason J. Tyler sold 2,237 shares of the firm's stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $112.67, for a total value of $252,042.79. Following the transaction, the insider now directly owns 58,449 shares in the company, valued at $6,585,448.83. This trade represents a 3.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Jane Karpinski sold 2,262 shares of the company's stock in a transaction dated Monday, February 3rd. The shares were 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 of the company's stock, valued at $1,918,883.88. This represents a 11.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 35,335 shares of company stock worth $3,970,211 in the last quarter. 0.77% of the stock is owned by company insiders.
Northern Trust Price Performance
NTRS stock traded up $1.74 during trading on Thursday, hitting $92.34. The company had a trading volume of 442,695 shares, compared to its average volume of 1,373,027. The company has a market cap of $18.07 billion, a P/E ratio of 9.44, a P/E/G ratio of 1.72 and a beta of 1.10. Northern Trust Co. has a fifty-two week low of $79.68 and a fifty-two week high of $114.67. The company has a current ratio of 0.68, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The company has a fifty day moving average price of $98.61 and a two-hundred day moving average price of $102.71.
Northern Trust (NASDAQ:NTRS - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The asset manager reported $1.90 earnings per share for the quarter, topping 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 research analysts expect that Northern Trust Co. will post 8.27 earnings per share for the current fiscal year.
Northern Trust Announces Dividend
The firm also recently announced 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. The ex-dividend date is Friday, June 6th. This represents a $3.00 dividend on an annualized basis and a yield of 3.25%. Northern Trust's payout ratio is presently 30.67%.
About Northern Trust
(
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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