National Bank of Canada FI lessened its position in Northern Trust Co. (NASDAQ:NTRS - Free Report) by 9.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 92,826 shares of the asset manager's stock after selling 10,248 shares during the quarter. National Bank of Canada FI's holdings in Northern Trust were worth $9,515,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Franklin Resources Inc. raised its holdings in Northern Trust by 22.7% in the fourth quarter. Franklin Resources Inc. now owns 194,416 shares of the asset manager's stock worth $19,928,000 after purchasing an additional 35,941 shares in the last quarter. C M Bidwell & Associates Ltd. purchased a new position in Northern Trust during the fourth quarter valued at approximately $140,000. Meeder Asset Management Inc. grew its holdings in Northern Trust by 28.7% in the fourth quarter. Meeder Asset Management Inc. now owns 128,396 shares of the asset manager's stock valued at $13,161,000 after purchasing an additional 28,615 shares during the period. Wellington Management Group LLP raised its holdings in shares of Northern Trust by 1.6% during the fourth quarter. Wellington Management Group LLP now owns 2,532,401 shares of the asset manager's stock valued at $259,571,000 after acquiring an additional 39,592 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its stake in Northern Trust by 175.8% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 93,391 shares of the asset manager's stock worth $9,573,000 after purchasing an additional 59,530 shares during the last quarter. 83.19% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently issued reports on NTRS shares. Truist Financial dropped their price objective on shares of Northern Trust from $116.00 to $98.00 and set a "hold" rating for the company in a report on Friday, April 4th. Royal Bank of Canada lifted their price target 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. Morgan Stanley dropped their price target on shares of Northern Trust from $136.00 to $132.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 2nd. Barclays boosted their target price on Northern Trust from $115.00 to $118.00 and gave the company an "equal weight" rating in a report on Monday, January 6th. Finally, Wells Fargo & Company reduced their price objective on Northern Trust from $119.00 to $118.00 and set an "equal weight" rating for the company in a research note on Friday, March 28th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, Northern Trust presently has an average rating of "Hold" and a consensus target price of $112.31.
Read Our Latest Report on NTRS
Northern Trust Price Performance
Shares of NTRS stock traded down $5.59 during trading hours on Thursday, hitting $87.68. The company's stock had a trading volume of 324,289 shares, compared to its average volume of 1,247,047. 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 Co. has a twelve month low of $79.32 and a twelve month high of $114.67. The stock has a market cap of $17.16 billion, a price-to-earnings ratio of 8.99, a P/E/G ratio of 1.72 and a beta of 1.10. The business has a fifty day moving average of $103.22 and a 200-day moving average of $102.88.
Northern Trust (NASDAQ:NTRS - Get Free Report) last announced its earnings results on Thursday, January 23rd. The asset manager reported $2.26 earnings per share (EPS) for the quarter, topping 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, equities research analysts anticipate that Northern Trust Co. will post 8.27 EPS for the current year.
Northern Trust Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were issued a dividend of $0.75 per share. The ex-dividend date was Friday, March 14th. This represents a $3.00 annualized dividend and a dividend yield of 3.42%. Northern Trust's payout ratio is currently 30.67%.
Insider Activity at Northern Trust
In other news, insider John Landers sold 900 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $111.44, for a total value of $100,296.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction, the executive vice president now 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 sold 35,335 shares of company stock worth $3,970,211. 0.77% of the stock is owned by company insiders.
About Northern Trust
(
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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