Prudential PLC lowered its stake in shares of Northern Trust Co. (NASDAQ:NTRS - Free Report) by 79.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,340 shares of the asset manager's stock after selling 16,851 shares during the quarter. Prudential PLC's holdings in Northern Trust were worth $445,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of NTRS. Y.D. More Investments Ltd lifted its holdings in shares of Northern Trust by 118.4% during the fourth quarter. Y.D. More Investments Ltd now owns 249 shares of the asset manager's stock worth $26,000 after buying an additional 135 shares during the last quarter. Empirical Asset Management LLC acquired a new stake in Northern Trust in the 4th quarter worth $33,000. Brooklyn Investment Group increased its holdings in shares of Northern Trust by 51.2% during the 4th quarter. Brooklyn Investment Group now owns 378 shares of the asset manager's stock worth $39,000 after purchasing an additional 128 shares during the period. Assetmark Inc. lifted its position in shares of Northern Trust by 528.3% in the 4th quarter. Assetmark Inc. now owns 377 shares of the asset manager's stock worth $39,000 after acquiring an additional 317 shares during the period. Finally, Proficio Capital Partners LLC bought a new position in Northern Trust in the fourth quarter worth $51,000. Institutional investors own 83.19% of the company's stock.
Northern Trust Stock Performance
NASDAQ:NTRS traded up $1.43 during trading on Monday, reaching $89.72. The company's stock had a trading volume of 232,112 shares, compared to its average volume of 1,256,604. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.68. The firm has a market cap of $17.56 billion, a price-to-earnings ratio of 9.17, a price-to-earnings-growth ratio of 1.72 and a beta of 1.10. Northern Trust Co. has a 12 month low of $79.32 and a 12 month high of $114.67. The firm has a 50 day moving average of $102.30 and a 200-day moving average of $102.93.
Northern Trust (NASDAQ:NTRS - Get Free Report) last released its quarterly earnings data 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%. Research analysts expect that Northern Trust Co. will post 8.27 EPS for the current fiscal 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 paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date of this dividend was Friday, March 14th. Northern Trust's dividend payout ratio (DPR) is presently 30.67%.
Wall Street Analyst Weigh In
A number of equities analysts have weighed in on the stock. Morgan Stanley dropped their target price on shares of Northern Trust from $136.00 to $132.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 2nd. Bank of America cut their price target on shares of Northern Trust from $123.00 to $121.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. Truist Financial reduced their price objective on Northern Trust from $116.00 to $98.00 and set a "hold" rating for the company in a research report on Friday, April 4th. Citigroup decreased their target price 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. Finally, Evercore ISI lowered their price objective on shares of Northern Trust from $113.00 to $104.00 and set an "in-line" rating on the stock in a research note on Tuesday, April 1st. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $112.31.
Get Our Latest Stock Report on Northern Trust
Insider Transactions at Northern Trust
In other news, EVP Thomas A. South sold 3,804 shares of the 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 sale, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Peter Cherecwich sold 26,132 shares of Northern Trust stock in a transaction dated Wednesday, January 29th. The stock was 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 directly owns 26,586 shares of the company's stock, valued at approximately $2,987,202.96. This represents a 49.57 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,335 shares of company stock worth $3,970,211. Company insiders own 0.77% of the company's stock.
About Northern Trust
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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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