Nuance Investments LLC lessened its stake in Northern Trust Co. (NASDAQ:NTRS - Free Report) by 49.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 926,082 shares of the asset manager's stock after selling 900,838 shares during the quarter. Northern Trust makes up approximately 3.8% of Nuance Investments LLC's portfolio, making the stock its 7th biggest holding. Nuance Investments LLC owned 0.47% of Northern Trust worth $94,923,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of NTRS. FMR LLC raised its stake in shares of Northern Trust by 9.3% in the third quarter. FMR LLC now owns 18,187,663 shares of the asset manager's stock valued at $1,637,435,000 after buying an additional 1,542,685 shares during the period. JPMorgan Chase & Co. raised its stake in Northern Trust by 9.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,296,442 shares of the asset manager's stock valued at $386,809,000 after acquiring an additional 388,692 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Northern Trust by 1.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,577,091 shares of the asset manager's stock valued at $141,986,000 after purchasing an additional 16,500 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Northern Trust by 0.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,267,406 shares of the asset manager's stock worth $129,909,000 after purchasing an additional 8,102 shares during the period. Finally, KBC Group NV increased its stake 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 purchasing an additional 644,261 shares in the last quarter. Hedge funds and other institutional investors own 83.19% of the company's stock.
Insider Activity at Northern Trust
In other Northern Trust news, COO Peter Cherecwich sold 26,132 shares of the stock in a transaction that occurred on 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 transaction, the chief operating officer now directly owns 26,586 shares in the company, valued at approximately $2,987,202.96. This trade represents a 49.57 % decrease in their ownership of the stock. The transaction 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 company's 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 of the company's stock, valued at $9,242,722. This trade represents a 4.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,335 shares of company stock worth $3,970,211. 0.77% of the stock is owned by insiders.
Analyst Ratings Changes
Several research analysts recently commented on the stock. StockNews.com downgraded shares of Northern Trust from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Morgan Stanley decreased 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. Wells Fargo & Company dropped their price objective on Northern Trust from $119.00 to $118.00 and set an "equal weight" rating on the stock in a report on Friday. UBS Group upped their price target on Northern Trust from $110.00 to $114.00 and gave the company a "neutral" rating in a research report on Monday, January 27th. Finally, Royal Bank of Canada raised their price objective on shares of Northern Trust from $107.00 to $115.00 and gave the company an "outperform" rating in a research report on Friday, January 24th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $113.46.
Check Out Our Latest Research Report on Northern Trust
Northern Trust Stock Down 3.4 %
NTRS stock traded down $3.40 during midday trading on Friday, hitting $97.15. The company's stock had a trading volume of 1,524,351 shares, compared to its average volume of 1,228,457. The company has a market cap of $19.01 billion, a PE ratio of 9.93, a P/E/G ratio of 1.72 and a beta of 1.07. 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 12 month low of $79.32 and a 12 month high of $114.67. The firm's 50-day moving average is $107.04 and its 200-day moving average is $102.88.
Northern Trust (NASDAQ:NTRS - Get Free Report) last posted its earnings results on Thursday, January 23rd. The asset manager reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.30. Northern Trust had a net margin of 12.77% and a return on equity of 13.74%. On average, equities research analysts forecast that Northern Trust Co. will post 8.27 earnings per share for the current fiscal year.
Northern Trust Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 3.09%. The ex-dividend date is Friday, March 14th. Northern Trust's payout ratio is currently 30.67%.
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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