Orion Portfolio Solutions LLC trimmed its holdings in Northern Trust Co. (NASDAQ:NTRS - Free Report) by 50.5% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 12,715 shares of the asset manager's stock after selling 12,972 shares during the quarter. Orion Portfolio Solutions LLC's holdings in Northern Trust were worth $1,303,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the stock. Rockefeller Capital Management L.P. grew its stake in shares of Northern Trust by 5.5% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 26,830 shares of the asset manager's stock valued at $2,416,000 after acquiring an additional 1,405 shares during the period. HighTower Advisors LLC boosted its stake in Northern Trust by 48.8% during the third quarter. HighTower Advisors LLC now owns 26,774 shares of the asset manager's stock valued at $2,431,000 after buying an additional 8,781 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased its position in Northern Trust by 1.5% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 38,755 shares of the asset manager's stock worth $3,489,000 after purchasing an additional 590 shares during the last quarter. Investment Management Corp of Ontario grew its stake in shares of Northern Trust by 47.9% in the 3rd quarter. Investment Management Corp of Ontario now owns 6,794 shares of the asset manager's stock worth $612,000 after buying an additional 2,200 shares in the last quarter. Finally, IHT Wealth Management LLC bought a new stake in Northern Trust during the third quarter worth approximately $297,000. 83.19% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at Northern Trust
In other news, COO Peter Cherecwich sold 26,132 shares of Northern Trust stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $112.36, for a total transaction of $2,936,191.52. Following the sale, the chief operating officer now owns 26,586 shares in the company, valued at $2,987,202.96. This trade represents a 49.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Jane Karpinski sold 2,262 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $111.33, for a total value of $251,828.46. Following the completion of the transaction, the executive vice president now directly owns 17,236 shares of the company's stock, valued at $1,918,883.88. This represents a 11.60 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,335 shares of company stock valued at $3,970,211. 0.77% of the stock is owned by insiders.
Northern Trust Stock Performance
Shares of NASDAQ NTRS traded up $8.82 during trading hours on Wednesday, reaching $93.27. The stock had a trading volume of 2,084,608 shares, compared to its average volume of 1,250,572. The firm has a 50-day moving average of $103.22 and a 200-day moving average of $102.88. The firm has a market cap of $18.25 billion, a price-to-earnings ratio of 9.54, a PEG ratio of 1.72 and a beta of 1.10. Northern Trust Co. has a fifty-two week low of $79.32 and a fifty-two week 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.
Northern Trust (NASDAQ:NTRS - Get Free Report) last issued its 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 net margin of 12.77% and a return on equity of 13.74%. Equities research analysts predict that Northern Trust Co. will post 8.27 earnings per share for the current year.
Northern Trust Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 3.22%. The ex-dividend date was Friday, March 14th. Northern Trust's payout ratio is 30.67%.
Analyst Ratings Changes
A number of equities research analysts recently issued reports on NTRS shares. StockNews.com lowered Northern Trust from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. Keefe, Bruyette & Woods upped their target price on Northern Trust from $113.00 to $122.00 and gave the stock a "market perform" rating in a report on Friday, January 24th. Morgan Stanley lowered 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 report on Wednesday, April 2nd. Bank of America reduced their target price on Northern Trust from $123.00 to $121.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. Finally, UBS Group raised their price target on shares of Northern Trust from $110.00 to $114.00 and gave the stock a "neutral" rating in a report on Monday, January 27th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Northern Trust has an average rating of "Hold" and a consensus price target of $112.31.
Read Our Latest Analysis on NTRS
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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