Northern Trust Co. (NASDAQ:NTRS) Shares Sold by Davis R M Inc.

Davis R M Inc. cut its holdings in Northern Trust Co. (NASDAQ:NTRS) by 5.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,947 shares of the asset manager’s stock after selling 457 shares during the quarter. Davis R M Inc.’s holdings in Northern Trust were worth $815,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of NTRS. Versor Investments LP purchased a new position in Northern Trust during the third quarter worth $918,000. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Northern Trust by 2.3% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 452,702 shares of the asset manager’s stock valued at $40,757,000 after acquiring an additional 10,202 shares during the last quarter. Victory Capital Management Inc. increased its position in Northern Trust by 67.4% during the 3rd quarter. Victory Capital Management Inc. now owns 403,990 shares of the asset manager’s stock worth $36,371,000 after purchasing an additional 162,623 shares in the last quarter. Haverford Trust Co raised its stake in Northern Trust by 5.9% in the 3rd quarter. Haverford Trust Co now owns 2,904 shares of the asset manager’s stock valued at $261,000 after purchasing an additional 163 shares during the last quarter. Finally, Huntington National Bank lifted its holdings in Northern Trust by 17.1% in the 3rd quarter. Huntington National Bank now owns 2,133 shares of the asset manager’s stock valued at $192,000 after purchasing an additional 311 shares in the last quarter. 83.19% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Northern Trust

In other Northern Trust news, EVP Jane Karpinski sold 2,262 shares of Northern Trust stock in a transaction that occurred on Monday, February 3rd. The stock was 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 in the company, valued at $1,918,883.88. The trade was a 11.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jason J. Tyler sold 2,237 shares of the company’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $112.67, for a total value of $252,042.79. Following the transaction, the insider now owns 58,449 shares of the company’s stock, valued at approximately $6,585,448.83. The trade was a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,335 shares of company stock worth $3,970,211. 0.64% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Barclays boosted their price objective on shares of Northern Trust from $115.00 to $118.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. The Goldman Sachs Group boosted their price target on Northern Trust from $92.00 to $102.00 and gave the company a “sell” rating in a report on Friday, January 24th. Truist Financial raised their price objective on Northern Trust from $110.00 to $116.00 and gave the stock a “hold” rating in a report on Friday, January 24th. StockNews.com lowered Northern Trust from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Finally, Keefe, Bruyette & Woods raised their price target 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. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Northern Trust currently has a consensus rating of “Hold” and an average price target of $113.50.

Northern Trust Stock Down 3.8 %

Shares of NASDAQ:NTRS opened at $97.49 on Wednesday. Northern Trust Co. has a 1 year low of $79.30 and a 1 year high of $114.67. The stock has a 50-day simple moving average of $108.08 and a 200-day simple moving average of $102.07. 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 stock has a market capitalization of $19.08 billion, a P/E ratio of 9.97, a PEG ratio of 1.72 and a beta of 1.07.

Northern Trust (NASDAQ:NTRS) last announced its earnings results on Thursday, January 23rd. The asset manager reported $2.26 EPS for the quarter, beating the consensus estimate of $1.96 by $0.30. Northern Trust had a return on equity of 13.74% and a net margin of 12.77%. Equities analysts forecast that Northern Trust Co. will post 8.27 earnings per share for the current year.

Northern Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date of this dividend is Friday, March 14th. Northern Trust’s dividend payout ratio is presently 30.67%.

Northern Trust 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.