Legal & General Group Plc lowered its stake in Northern Trust Co. (NASDAQ:NTRS - Free Report) by 23.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,409,612 shares of the asset manager's stock after selling 421,935 shares during the quarter. Legal & General Group Plc owned about 0.71% of Northern Trust worth $144,485,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of NTRS. Norges Bank purchased a new position in shares of Northern Trust in the fourth quarter valued at approximately $83,550,000. KBC Group NV lifted its holdings in Northern Trust by 201.6% during the 4th quarter. KBC Group NV now owns 963,811 shares of the asset manager's stock worth $98,791,000 after buying an additional 644,261 shares in the last quarter. Cerity Partners LLC boosted its position in Northern Trust by 451.9% in the 4th quarter. Cerity Partners LLC now owns 555,631 shares of the asset manager's stock valued at $56,866,000 after buying an additional 454,956 shares during the period. ExodusPoint Capital Management LP purchased a new stake in shares of Northern Trust during the fourth quarter worth $42,715,000. Finally, JPMorgan Chase & Co. boosted its holdings in Northern Trust by 9.9% in 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 during the period. Hedge funds and other institutional investors own 83.19% of the company's stock.
Analyst Ratings Changes
Several analysts recently weighed in on NTRS shares. StockNews.com cut shares of Northern Trust from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Bank of America reduced their target price on Northern Trust from $123.00 to $121.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. Barclays upped their target price on Northern Trust from $115.00 to $118.00 and gave the company an "equal weight" rating in a research report on Monday, January 6th. Evercore ISI reduced their price objective on Northern Trust from $113.00 to $104.00 and set an "in-line" rating for the company in a research note on Tuesday, April 1st. Finally, Citigroup lowered their target price on shares of Northern Trust from $110.00 to $105.00 and set a "neutral" rating on the stock in a research report on Monday, March 24th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Northern Trust presently has a consensus rating of "Hold" and an average target price of $112.31.
Get Our Latest Report on NTRS
Northern Trust Stock Performance
Shares of Northern Trust stock traded down $0.10 on Tuesday, reaching $89.71. 870,902 shares of the stock were exchanged, compared to its average volume of 1,260,141. The firm has a market capitalization of $17.56 billion, a PE ratio of 9.18, a PEG ratio of 1.72 and a beta of 1.10. The business has a fifty day moving average price of $101.83 and a two-hundred day moving average price of $102.93. Northern Trust Co. has a 1-year low of $79.32 and a 1-year 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.
Northern Trust (NASDAQ:NTRS - Get Free Report) last announced its quarterly earnings results 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%. As a group, research analysts anticipate that Northern Trust Co. will post 8.27 earnings per share for the current fiscal year.
Northern Trust Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date of this dividend was Friday, March 14th. Northern Trust's dividend payout ratio (DPR) is presently 30.67%.
Insider Transactions at Northern Trust
In other Northern Trust news, COO Peter Cherecwich sold 26,132 shares of Northern Trust stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $112.36, for a total value of $2,936,191.52. Following the completion of the sale, the chief operating officer now owns 26,586 shares in the company, valued at $2,987,202.96. The trade was a 49.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 completion of the sale, the executive vice president now directly owns 81,794 shares in the company, valued at $9,242,722. This represents a 4.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,335 shares of company stock valued at $3,970,211 over the last three months. 0.77% of the stock is currently owned by insiders.
Northern Trust Profile
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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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