RBF Capital LLC decreased its stake in shares of Northern Trust Co. (NASDAQ:NTRS - Free Report) by 42.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,600 shares of the asset manager's stock after selling 7,000 shares during the period. RBF Capital LLC's holdings in Northern Trust were worth $984,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Northern Trust during the fourth quarter valued at $83,550,000. KBC Group NV boosted its holdings in shares of Northern Trust by 201.6% in the fourth 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 during the last quarter. Cerity Partners LLC grew its position in Northern Trust by 451.9% during the fourth 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 Northern Trust during the fourth quarter valued at approximately $42,715,000. Finally, JPMorgan Chase & Co. raised its position 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 worth $386,809,000 after acquiring an additional 388,692 shares during the period. Hedge funds and other institutional investors own 83.19% of the company's stock.
Analyst Upgrades and Downgrades
NTRS has been the subject of several analyst reports. Keefe, Bruyette & Woods upped their price objective 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. Morgan Stanley reduced their price target on Northern Trust from $136.00 to $132.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 2nd. Citigroup cut their price objective on Northern Trust from $110.00 to $105.00 and set a "neutral" rating for the company in a research note on Monday, March 24th. The Goldman Sachs Group increased their target price on shares of Northern Trust from $92.00 to $102.00 and gave the stock a "sell" rating in a report on Friday, January 24th. Finally, Royal Bank of Canada lowered their price target on shares of Northern Trust from $115.00 to $105.00 and set an "outperform" rating on the stock in a report on Wednesday. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $110.83.
Check Out Our Latest Stock Report on Northern Trust
Northern Trust Price Performance
NTRS traded down $0.81 during trading on Friday, hitting $91.59. 1,171,120 shares of the company traded hands, compared to its average volume of 1,251,792. The company has a market cap of $17.92 billion, a PE ratio of 9.37, a P/E/G ratio of 1.72 and a beta of 1.10. Northern Trust Co. has a 1 year low of $79.68 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. The stock's 50-day simple moving average is $97.80 and its two-hundred day simple moving average is $102.73.
Northern Trust (NASDAQ:NTRS - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The asset manager reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.05. Northern Trust had a return on equity of 13.74% and a net margin of 12.77%. The firm had revenue of $1.95 billion for the quarter, compared to analysts' expectations of $1.95 billion. As a group, sell-side analysts anticipate that Northern Trust Co. will post 8.27 earnings per share for the current fiscal year.
Northern Trust Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 6th will be given a dividend of $0.75 per share. The ex-dividend date is Friday, June 6th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.28%. Northern Trust's dividend payout ratio is currently 27.99%.
Insider Activity at Northern Trust
In related news, COO Peter Cherecwich sold 26,132 shares of the stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $112.36, for a total value of $2,936,191.52. Following the completion of the transaction, the chief operating officer now owns 26,586 shares of the company's stock, valued at approximately $2,987,202.96. This trade represents a 49.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Thomas A. South sold 3,804 shares of the business'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 value of $429,852.00. Following the sale, the executive vice president now directly owns 81,794 shares in the company, valued at $9,242,722. The trade was a 4.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,335 shares of company stock valued at $3,970,211. 0.77% of the stock is owned by corporate 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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