Northern Trust Co. (NASDAQ:NTRS) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lowered its position in shares of Northern Trust Co. (NASDAQ:NTRS) by 9.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,462 shares of the asset manager’s stock after selling 1,092 shares during the period. Maryland State Retirement & Pension System’s holdings in Northern Trust were worth $1,072,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. GWN Securities Inc. acquired a new stake in shares of Northern Trust during the fourth quarter worth about $315,000. Glenview Trust co acquired a new stake in shares of Northern Trust during the fourth quarter worth about $237,000. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Northern Trust during the fourth quarter worth about $212,000. Natixis Advisors LLC increased its position in shares of Northern Trust by 9.8% during the fourth quarter. Natixis Advisors LLC now owns 89,827 shares of the asset manager’s stock worth $9,207,000 after purchasing an additional 8,053 shares in the last quarter. Finally, Frank Rimerman Advisors LLC acquired a new stake in shares of Northern Trust during the fourth quarter worth about $213,000. Institutional investors and hedge funds own 83.19% of the company’s stock.

Northern Trust Price Performance

Shares of NTRS opened at $98.77 on Friday. Northern Trust Co. has a twelve month low of $79.32 and a twelve month high of $114.67. The stock’s 50 day moving average is $107.42 and its two-hundred day moving average is $102.46. The firm has a market capitalization of $19.33 billion, a PE ratio of 10.10, 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 (NASDAQ:NTRS) last announced its quarterly earnings data on Thursday, January 23rd. The asset manager reported $2.26 earnings per share 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 anticipate that Northern Trust Co. will post 8.27 earnings per share for the current year.

Northern Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 3.04%. The ex-dividend date of this dividend is Friday, March 14th. Northern Trust’s dividend payout ratio (DPR) is 30.67%.

Insider Transactions at Northern Trust

In other news, insider Jason J. Tyler sold 2,237 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $112.67, for a total transaction of $252,042.79. Following the sale, the insider now owns 58,449 shares of the company’s stock, valued at $6,585,448.83. The trade was a 3.69 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jane Karpinski sold 2,262 shares of the business’s 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 sale, the executive vice president now directly owns 17,236 shares in the company, valued at $1,918,883.88. This trade represents a 11.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,335 shares of company stock valued at $3,970,211 in the last quarter. 0.64% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. StockNews.com cut Northern Trust from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. 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 report on Friday, January 24th. Truist Financial raised their price target on Northern Trust from $110.00 to $116.00 and gave the stock a “hold” rating in a report on Friday, January 24th. The Goldman Sachs Group raised their price target on 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 raised their price target on Northern Trust from $107.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, January 24th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Northern Trust has an average rating of “Hold” and an average target price of $113.50.

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.