Morningstar Investment Management LLC Sells 9,886 Shares of Northern Trust Co. (NASDAQ:NTRS)

Morningstar Investment Management LLC cut its stake in shares of Northern Trust Co. (NASDAQ:NTRS - Free Report) by 62.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,874 shares of the asset manager's stock after selling 9,886 shares during the period. Morningstar Investment Management LLC's holdings in Northern Trust were worth $602,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Y.D. More Investments Ltd raised its position in Northern Trust by 118.4% in the fourth 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. Brooklyn Investment Group increased its stake in shares of Northern Trust by 51.2% in the 4th quarter. Brooklyn Investment Group now owns 378 shares of the asset manager's stock worth $39,000 after purchasing an additional 128 shares in the last quarter. Northwest Investment Counselors LLC bought a new position in Northern Trust in the 3rd quarter worth $39,000. Capital Performance Advisors LLP purchased a new position in Northern Trust during the third quarter valued at $48,000. Finally, Friedenthal Financial bought a new stake in Northern Trust during the fourth quarter valued at about $57,000. 83.19% of the stock is owned by institutional investors.

Northern Trust Trading Down 0.5 %

NTRS stock traded down $0.56 during midday trading on Friday, reaching $112.97. 1,006,850 shares of the company traded hands, compared to its average volume of 1,204,719. The firm has a market capitalization of $22.39 billion, a price-to-earnings ratio of 11.55, a P/E/G ratio of 1.73 and a beta of 1.08. Northern Trust Co. has a 52-week low of $79.30 and a 52-week high of $114.67. The business has a 50 day moving average of $107.09 and a 200-day moving average of $99.85. 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 (NASDAQ:NTRS - Get Free Report) last released its quarterly earnings results on Thursday, January 23rd. The asset manager reported $2.26 earnings per share for the quarter, beating 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%. As a group, sell-side analysts expect that Northern Trust Co. will post 8.25 earnings per share for the current fiscal year.

Northern Trust Announces Dividend

The company 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 dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.66%. Northern Trust's dividend payout ratio is presently 30.67%.

Analyst Upgrades and Downgrades

NTRS has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods upped their price target on shares of Northern Trust from $113.00 to $122.00 and gave the stock a "market perform" rating in a research report on Friday, January 24th. UBS Group increased their price target on Northern Trust from $110.00 to $114.00 and gave the stock a "neutral" rating in a research note on Monday, January 27th. The Goldman Sachs Group raised their price target on Northern Trust from $92.00 to $102.00 and gave the company a "sell" rating in a report on Friday, January 24th. Morgan Stanley dropped their price objective on 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, StockNews.com upgraded Northern Trust from a "hold" rating to a "buy" rating in a research report on Friday, January 24th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, Northern Trust presently has an average rating of "Hold" and a consensus price target of $112.58.

Insider Buying and Selling

In other Northern Trust news, insider John Landers sold 900 shares of the company's stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $111.44, for a total value of $100,296.00. Following the transaction, the insider now owns 7,640 shares of the company's stock, valued at $851,401.60. This represents a 10.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Thomas A. South sold 3,804 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $113.00, for a total value of $429,852.00. Following the completion of the sale, the executive vice president now owns 81,794 shares in the company, valued at approximately $9,242,722. The trade was a 4.44 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 44,435 shares of company stock valued at $4,980,311. Company insiders own 0.64% 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.