Northern Trust Co. (NASDAQ:NTRS) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. lessened its stake in shares of Northern Trust Co. (NASDAQ:NTRS - Free Report) by 6.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,919 shares of the asset manager's stock after selling 3,128 shares during the quarter. Corebridge Financial Inc.'s holdings in Northern Trust were worth $4,809,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NTRS. Y.D. More Investments Ltd grew its stake 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 worth $26,000 after acquiring an additional 135 shares during the period. Empirical Asset Management LLC purchased a new stake in shares of Northern Trust in the fourth quarter valued at $33,000. Brooklyn Investment Group increased its stake in Northern Trust by 51.2% in the fourth quarter. Brooklyn Investment Group now owns 378 shares of the asset manager's stock valued at $39,000 after purchasing an additional 128 shares during the last quarter. Assetmark Inc. lifted its position in Northern Trust by 528.3% during the fourth quarter. Assetmark Inc. now owns 377 shares of the asset manager's stock worth $39,000 after buying an additional 317 shares during the period. Finally, Proficio Capital Partners LLC acquired a new stake in Northern Trust in the 4th quarter worth about $51,000. 83.19% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NTRS has been the topic of several research analyst reports. StockNews.com cut shares of Northern Trust from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. Citigroup lowered their price objective 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. UBS Group increased their target price on Northern Trust from $110.00 to $114.00 and gave the stock a "neutral" rating in a research report on Monday, January 27th. Wells Fargo & Company lowered their price target on Northern Trust from $119.00 to $118.00 and set an "equal weight" rating for the company in a research report on Friday. Finally, Evercore ISI cut their price objective on Northern Trust from $113.00 to $104.00 and set an "in-line" rating on the stock in a report on Tuesday. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $113.54.

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Northern Trust Stock Down 0.7 %

Northern Trust stock traded down $0.70 during midday trading on Tuesday, hitting $97.95. 1,275,479 shares of the stock were exchanged, compared to its average volume of 1,230,883. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.68 and a quick ratio of 0.71. The company has a 50 day moving average price of $106.88 and a two-hundred day moving average price of $103.07. The firm has a market cap of $19.17 billion, a P/E ratio of 10.02, a P/E/G ratio of 1.72 and a beta of 1.07. Northern Trust Co. has a 1 year low of $79.32 and a 1 year high of $114.67.

Northern Trust (NASDAQ:NTRS - Get Free Report) last released its quarterly 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 return on equity of 13.74% and a net margin of 12.77%. On average, sell-side analysts predict that Northern Trust Co. will post 8.27 earnings per share for the current fiscal year.

Northern Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a $0.75 dividend. The ex-dividend date is Friday, March 14th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.06%. Northern Trust's dividend payout ratio (DPR) is presently 30.67%.

Insider Activity at Northern Trust

In other news, EVP Thomas A. South sold 3,804 shares of the company'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 sale, the executive vice president now owns 81,794 shares in the company, valued at approximately $9,242,722. This represents a 4.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Peter Cherecwich sold 26,132 shares of the stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $112.36, for a total transaction of $2,936,191.52. Following the transaction, the chief operating officer now directly owns 26,586 shares in the company, valued at $2,987,202.96. The trade was a 49.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,335 shares of company stock valued at $3,970,211 over the last ninety days. Corporate insiders own 0.77% of the company's stock.

Northern Trust 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.