Canvas Wealth Advisors LLC Cuts Stock Holdings in Northern Trust Co. (NASDAQ:NTRS)

Canvas Wealth Advisors LLC lowered its stake in Northern Trust Co. (NASDAQ:NTRS) by 46.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,583 shares of the asset manager’s stock after selling 7,349 shares during the period. Canvas Wealth Advisors LLC’s holdings in Northern Trust were worth $886,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of NTRS. Ballentine Partners LLC increased its stake in Northern Trust by 4.4% in the 4th quarter. Ballentine Partners LLC now owns 2,483 shares of the asset manager’s stock worth $255,000 after purchasing an additional 105 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Northern Trust by 9.9% in the third quarter. JPMorgan Chase & Co. now owns 4,296,442 shares of the asset manager’s stock worth $386,809,000 after purchasing an additional 388,692 shares during the last quarter. Kovitz Investment Group Partners LLC increased its stake in shares of Northern Trust by 68.1% in the third quarter. Kovitz Investment Group Partners LLC now owns 13,765 shares of the asset manager’s stock worth $1,239,000 after buying an additional 5,578 shares during the period. Agate Pass Investment Management LLC bought a new stake in Northern Trust during the 4th quarter valued at $538,000. Finally, Caprock Group LLC purchased a new stake in Northern Trust during the 4th quarter valued at $1,059,000. Institutional investors own 83.19% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on NTRS shares. Bank of America boosted their price objective on shares of Northern Trust from $103.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. 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 increased 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 raised Northern Trust from a “hold” rating to a “buy” rating in a research note on Friday, January 24th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Northern Trust from $100.00 to $108.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Northern Trust currently has an average rating of “Hold” and a consensus target price of $112.58.

Insider Activity

In related news, Vice Chairman Steven L. Fradkin sold 9,100 shares of the stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $111.00, for a total transaction of $1,010,100.00. Following the sale, the insider now directly owns 47,797 shares of the company’s stock, valued at approximately $5,305,467. This represents a 15.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John Landers sold 900 shares of Northern Trust stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $111.44, for a total transaction of $100,296.00. Following the completion of the transaction, the insider now directly owns 7,640 shares of the company’s stock, valued at $851,401.60. This trade represents a 10.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 40,631 shares of company stock worth $4,550,459 over the last three months. 0.64% of the stock is currently owned by corporate insiders.

Northern Trust Stock Down 0.3 %

Shares of Northern Trust stock opened at $113.51 on Monday. Northern Trust Co. has a 1 year low of $76.67 and a 1 year high of $114.67. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.68 and a quick ratio of 0.71. The company has a 50-day moving average of $106.44 and a 200 day moving average of $98.43. The firm has a market cap of $22.50 billion, a price-to-earnings ratio of 11.61, a PEG ratio of 1.74 and a beta of 1.08.

Northern Trust (NASDAQ:NTRS) last released 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%. As a group, sell-side analysts anticipate that Northern Trust Co. will post 8.2 earnings per share for the current fiscal year.

Northern Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a $0.75 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.64%. Northern Trust’s dividend payout ratio is currently 30.67%.

Northern Trust Company 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.