Cibc World Markets Corp Sells 7,793 Shares of Northern Trust Co. (NASDAQ:NTRS)

Cibc World Markets Corp cut its stake in Northern Trust Co. (NASDAQ:NTRS - Free Report) by 19.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,459 shares of the asset manager's stock after selling 7,793 shares during the quarter. Cibc World Markets Corp's holdings in Northern Trust were worth $3,225,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Y.D. More Investments Ltd raised its holdings in Northern Trust by 118.4% in the 4th quarter. Y.D. More Investments Ltd now owns 249 shares of the asset manager's stock valued at $26,000 after acquiring an additional 135 shares during the period. Empirical Asset Management LLC acquired a new position in shares of Northern Trust in the fourth quarter valued at approximately $33,000. Brooklyn Investment Group increased its stake in shares of Northern Trust by 51.2% during the fourth quarter. Brooklyn Investment Group now owns 378 shares of the asset manager's stock worth $39,000 after purchasing an additional 128 shares during the period. Assetmark Inc. lifted its holdings in Northern Trust by 528.3% during the 4th quarter. Assetmark Inc. now owns 377 shares of the asset manager's stock worth $39,000 after purchasing an additional 317 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new stake in Northern Trust in the 4th quarter valued at $51,000. Institutional investors and hedge funds own 83.19% of the company's stock.

Insider Buying and Selling

In related news, EVP Thomas A. South sold 3,804 shares of Northern Trust stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $113.00, for a total transaction of $429,852.00. Following the completion of the transaction, the executive vice president now owns 81,794 shares of the company's stock, valued at $9,242,722. This trade represents a 4.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jason J. Tyler sold 2,237 shares of the company's stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $112.67, for a total transaction of $252,042.79. Following the sale, 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 disclosure for this sale can be found here. Insiders have sold a total of 35,335 shares of company stock valued at $3,970,211 over the last ninety days. 0.64% of the stock is owned by company insiders.

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Northern Trust Trading Up 0.2 %

Northern Trust stock traded up $0.16 during trading hours on Tuesday, hitting $101.60. The stock had a trading volume of 979,115 shares, compared to its average volume of 1,177,691. The business's 50 day simple moving average is $107.45 and its 200-day simple moving average is $102.63. Northern Trust Co. has a one year low of $79.32 and a one year high of $114.67. The stock has a market cap of $19.88 billion, a price-to-earnings ratio of 10.39, a P/E/G ratio of 1.72 and a beta of 1.07. The company has a quick ratio of 0.71, a current ratio of 0.68 and a debt-to-equity ratio of 0.58.

Northern Trust (NASDAQ:NTRS - Get Free Report) last issued its quarterly earnings data on Thursday, January 23rd. The asset manager reported $2.26 earnings per share (EPS) 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%. On average, equities analysts predict that Northern Trust Co. will post 8.27 EPS for the current fiscal year.

Northern Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.95%. The ex-dividend date of this dividend is Friday, March 14th. Northern Trust's payout ratio is presently 30.67%.

Analysts Set New Price Targets

Several brokerages have weighed in on NTRS. Royal Bank of Canada lifted their price objective on shares of Northern Trust from $107.00 to $115.00 and gave the stock an "outperform" rating in a research note on Friday, January 24th. Citigroup lowered their price objective on Northern Trust from $110.00 to $105.00 and set a "neutral" rating on the stock in a research note on Monday. Keefe, Bruyette & Woods boosted their target price on shares of Northern Trust from $113.00 to $122.00 and gave the company a "market perform" rating in a research report on Friday, January 24th. The Goldman Sachs Group increased their price target on shares of Northern Trust from $92.00 to $102.00 and gave the stock a "sell" rating in a research report on Friday, January 24th. Finally, StockNews.com downgraded shares of Northern Trust from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $112.85.

About Northern Trust

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.