Canvas Wealth Advisors LLC Sells 7,349 Shares of Northern Trust Co. (NASDAQ:NTRS)

Canvas Wealth Advisors LLC trimmed its position in Northern Trust Co. (NASDAQ:NTRS - Free Report) by 46.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,583 shares of the asset manager's stock after selling 7,349 shares during the period. Canvas Wealth Advisors LLC's holdings in Northern Trust were worth $886,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Allworth Financial LP increased its holdings in shares of Northern Trust by 9.1% during the third quarter. Allworth Financial LP now owns 1,170 shares of the asset manager's stock valued at $105,000 after acquiring an additional 98 shares in the last quarter. Juncture Wealth Strategies LLC raised its holdings in Northern Trust by 2.4% in the fourth quarter. Juncture Wealth Strategies LLC now owns 4,212 shares of the asset manager's stock worth $432,000 after buying an additional 100 shares during the last quarter. Ballentine Partners LLC lifted its stake in shares of Northern Trust by 4.4% in the fourth quarter. Ballentine Partners LLC now owns 2,483 shares of the asset manager's stock worth $255,000 after buying an additional 105 shares in the last quarter. Pallas Capital Advisors LLC grew its holdings in shares of Northern Trust by 1.8% during the fourth quarter. Pallas Capital Advisors LLC now owns 6,091 shares of the asset manager's stock valued at $624,000 after buying an additional 107 shares during the last quarter. Finally, Mesirow Financial Investment Management Inc. increased its position in shares of Northern Trust by 0.4% during the third quarter. Mesirow Financial Investment Management Inc. now owns 35,673 shares of the asset manager's stock valued at $3,212,000 after acquiring an additional 127 shares in the last quarter. Institutional investors own 83.19% of the company's stock.

Northern Trust Stock Performance

Shares of NASDAQ NTRS traded down $0.78 during trading on Tuesday, hitting $110.22. The company had a trading volume of 766,750 shares, compared to its average volume of 1,145,431. The stock has a 50 day simple moving average of $106.46 and a 200 day simple moving average of $98.67. The firm has a market capitalization of $21.85 billion, a P/E ratio of 11.27, a price-to-earnings-growth ratio of 1.74 and a beta of 1.08. 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 Co. has a 12 month low of $76.67 and a 12 month high of $114.67.

Northern Trust (NASDAQ:NTRS - Get Free Report) last released its earnings results on Thursday, January 23rd. The asset manager reported $2.26 earnings per share for the quarter, beating analysts' consensus estimates of $1.96 by $0.30. Northern Trust had a net margin of 12.77% and a return on equity of 13.74%. As a group, analysts anticipate that Northern Trust Co. will post 8.2 earnings per share for the current year.

Northern Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.72%. The ex-dividend date is Friday, March 14th. Northern Trust's dividend payout ratio (DPR) is presently 30.67%.

Analyst Upgrades and Downgrades

Several brokerages have commented on NTRS. Royal Bank of Canada increased their target price on Northern Trust from $107.00 to $115.00 and gave the company an "outperform" rating in a research note on Friday, January 24th. UBS Group lifted their price objective on Northern Trust from $110.00 to $114.00 and gave the stock a "neutral" rating in a report on Monday, January 27th. Barclays upped their target price on shares of Northern Trust from $115.00 to $118.00 and gave the company an "equal weight" rating in a research note on Monday, January 6th. Morgan Stanley reduced their price target on shares of Northern Trust from $127.00 to $125.00 and set an "equal weight" rating for the company in a research note on Friday, January 3rd. Finally, Keefe, Bruyette & Woods raised their target price on shares of Northern Trust from $113.00 to $122.00 and gave the stock a "market perform" rating in a report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Northern Trust presently has a consensus rating of "Hold" and an average target price of $112.58.

Insider Buying and Selling

In other Northern Trust news, insider John Landers sold 900 shares of the business's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $111.44, for a total transaction of $100,296.00. Following the sale, the insider now directly owns 7,640 shares of the company's stock, valued at $851,401.60. The trade was a 10.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jason J. Tyler sold 2,237 shares of Northern Trust stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $112.67, for a total transaction of $252,042.79. Following the transaction, the insider now directly owns 58,449 shares of the company's stock, valued at $6,585,448.83. The trade was a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 40,631 shares of company stock valued at $4,550,459. Corporate insiders own 0.64% 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.