Commerce Bank Cuts Position in Northern Trust Co. (NASDAQ:NTRS)

Commerce Bank lowered its position in Northern Trust Co. (NASDAQ:NTRS - Free Report) by 7.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 49,223 shares of the asset manager's stock after selling 3,772 shares during the quarter. Commerce Bank's holdings in Northern Trust were worth $5,045,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Massachusetts Financial Services Co. MA grew its holdings in Northern Trust by 1.2% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,486,616 shares of the asset manager's stock worth $767,378,000 after acquiring an additional 92,162 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Northern Trust by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 4,904,871 shares of the asset manager's stock worth $501,444,000 after purchasing an additional 30,908 shares during the period. JPMorgan Chase & Co. boosted its stake 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 valued at $386,809,000 after purchasing an additional 388,692 shares in the last quarter. Invesco Ltd. increased its holdings in 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 buying an additional 202,327 shares during the period. Finally, Wellington Management Group LLP raised its stake in Northern Trust by 1.6% in the fourth quarter. Wellington Management Group LLP now owns 2,532,401 shares of the asset manager's stock worth $259,571,000 after buying an additional 39,592 shares in the last quarter. Institutional investors own 83.19% of the company's stock.

Insider Buying and Selling at Northern Trust

In other Northern Trust news, EVP Jane Karpinski sold 2,262 shares of the business's stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 17,236 shares of the company's stock, valued at approximately $1,918,883.88. The trade was a 11.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed 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 sale, the executive vice president now directly owns 81,794 shares in the company, valued at $9,242,722. The trade was a 4.44 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,335 shares of company stock valued at $3,970,211. 0.77% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on NTRS shares. Truist Financial decreased their price objective on Northern Trust from $98.00 to $92.00 and set a "hold" rating for the company in a research note on Wednesday. The Goldman Sachs Group increased their price target on shares of Northern Trust from $92.00 to $102.00 and gave the company a "sell" rating in a research report on Friday, January 24th. Wells Fargo & Company cut their price objective on shares of Northern Trust from $118.00 to $111.00 and set an "equal weight" rating on the stock in a research report on Wednesday. Evercore ISI decreased their target price on shares of Northern Trust from $104.00 to $100.00 and set an "in-line" rating for the company in a research report on Wednesday. Finally, Citigroup lowered their target price on shares of Northern Trust from $110.00 to $105.00 and set a "neutral" rating for the company in a research note on Monday, March 24th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $110.83.

Northern Trust Stock Performance

Shares of NTRS stock traded up $1.24 during mid-day trading on Wednesday, reaching $90.60. The stock had a trading volume of 1,605,732 shares, compared to its average volume of 1,255,308. Northern Trust Co. has a 1-year low of $79.68 and a 1-year high of $114.67. The firm has a market cap of $17.73 billion, a price-to-earnings ratio of 9.26, a PEG ratio of 1.72 and a beta of 1.10. 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 business's fifty day moving average is $99.01 and its 200-day moving average is $102.79.

Northern Trust (NASDAQ:NTRS - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The asset manager reported $1.90 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.95 billion. On average, research analysts forecast that Northern Trust Co. will post 8.27 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, July 1st. Investors 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 3.31%. Northern Trust's dividend payout ratio is presently 30.67%.

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.