Prudential Financial Inc. Sells 12,713 Shares of Northern Trust Co. (NASDAQ:NTRS)

Prudential Financial Inc. decreased its holdings in Northern Trust Co. (NASDAQ:NTRS - Free Report) by 9.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 123,992 shares of the asset manager's stock after selling 12,713 shares during the quarter. Prudential Financial Inc. owned approximately 0.06% of Northern Trust worth $12,709,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Y.D. More Investments Ltd grew its position in shares of Northern Trust by 118.4% in the 4th quarter. Y.D. More Investments Ltd now owns 249 shares of the asset manager's stock valued at $26,000 after buying an additional 135 shares during the last quarter. Assetmark Inc. boosted its holdings in Northern Trust by 528.3% in the fourth quarter. Assetmark Inc. now owns 377 shares of the asset manager's stock valued at $39,000 after acquiring an additional 317 shares during the last quarter. Brooklyn Investment Group increased its position in Northern Trust by 51.2% during the 4th 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 period. EverSource Wealth Advisors LLC raised its holdings in Northern Trust by 83.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 494 shares of the asset manager's stock worth $51,000 after purchasing an additional 224 shares during the last quarter. Finally, Friedenthal Financial acquired a new position in shares of Northern Trust in the 4th quarter worth approximately $57,000. 83.19% of the stock is currently owned by institutional investors and hedge funds.

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Northern Trust Stock Down 0.7 %

Shares of NASDAQ NTRS traded down $0.70 during mid-day trading on Tuesday, reaching $97.95. 1,275,479 shares of the company's stock traded hands, compared to its average volume of 1,232,960. 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 business has a 50-day simple moving average of $106.68 and a 200 day simple moving average of $103.14. The stock has a market cap of $19.17 billion, a P/E ratio of 10.02, a PEG 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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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, analysts expect that Northern Trust Co. will post 8.27 EPS for the current fiscal year.

Northern Trust Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on NTRS. Barclays lifted their target price on shares of Northern Trust from $115.00 to $118.00 and gave the stock an "equal weight" rating in a research note on Monday, January 6th. Morgan Stanley dropped their price objective on Northern Trust from $138.00 to $136.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 6th. Keefe, Bruyette & Woods raised their target price on Northern Trust from $113.00 to $122.00 and gave the stock a "market perform" rating in a research note on Friday, January 24th. Wells Fargo & Company dropped their price target on Northern Trust from $119.00 to $118.00 and set an "equal weight" rating on the stock in a research note on Friday. Finally, Citigroup reduced 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 report on Monday, March 24th. 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, the company presently has an average rating of "Hold" and an average target price of $113.54.

Insiders Place Their Bets

In other Northern Trust news, insider Jason J. Tyler sold 2,237 shares of Northern Trust stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $112.67, for a total transaction of $252,042.79. Following the transaction, the insider now owns 58,449 shares of the company's stock, valued at $6,585,448.83. This trade represents a 3.69 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Thomas A. South sold 3,804 shares of the company's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $113.00, for a total value of $429,852.00. Following the completion of the transaction, the executive vice president now directly owns 81,794 shares of the company's stock, valued at approximately $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 have sold 35,335 shares of company stock valued at $3,970,211 in the last three months. 0.77% of the stock is currently owned by insiders.

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.