Northern Trust Co. (NASDAQ:NTRS) Shares Sold by TIAA Trust National Association

TIAA Trust National Association cut its holdings in shares of Northern Trust Co. (NASDAQ:NTRS) by 6.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 7,553 shares of the asset manager’s stock after selling 545 shares during the period. TIAA Trust National Association’s holdings in Northern Trust were worth $774,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NTRS. JPMorgan Chase & Co. raised its stake 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 valued at $386,809,000 after acquiring an additional 388,692 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Northern Trust by 1.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,577,091 shares of the asset manager’s stock valued at $141,986,000 after purchasing an additional 16,500 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Northern Trust by 0.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,267,406 shares of the asset manager’s stock valued at $129,909,000 after purchasing an additional 8,102 shares in the last quarter. KBC Group NV grew its position in shares of Northern Trust by 201.6% during the fourth quarter. KBC Group NV now owns 963,811 shares of the asset manager’s stock worth $98,791,000 after buying an additional 644,261 shares in the last quarter. Finally, Boston Trust Walden Corp increased its stake in shares of Northern Trust by 1.6% during the fourth quarter. Boston Trust Walden Corp now owns 928,854 shares of the asset manager’s stock worth $95,208,000 after buying an additional 14,362 shares during the period. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Royal Bank of Canada lifted their price target on shares of Northern Trust from $107.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday, January 24th. Morgan Stanley lowered their target price on shares of Northern Trust from $138.00 to $136.00 and set an “equal weight” rating for the company in a research note on Thursday, March 6th. Keefe, Bruyette & Woods raised their price target on Northern Trust from $113.00 to $122.00 and gave the company a “market perform” rating in a research note on Friday, January 24th. StockNews.com cut Northern Trust from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Finally, Truist Financial increased their price objective on Northern Trust from $110.00 to $116.00 and gave the company a “hold” rating in a report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $112.85.

Northern Trust Price Performance

NTRS stock opened at $100.55 on Friday. The company has a current ratio of 0.68, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $19.68 billion, a P/E ratio of 10.28, a PEG ratio of 1.72 and a beta of 1.07. The business has a 50 day simple moving average of $107.23 and a 200-day simple moving average of $102.71. Northern Trust Co. has a twelve month low of $79.32 and a twelve month high of $114.67.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings results on Thursday, January 23rd. The asset manager reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates 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, equities analysts anticipate that Northern Trust Co. will post 8.27 EPS for the current year.

Northern Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors 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 dividend yield of 2.98%. The ex-dividend date of this dividend is Friday, March 14th. Northern Trust’s dividend payout ratio is currently 30.67%.

Insider Activity at Northern Trust

In related news, insider Jason J. Tyler sold 2,237 shares of Northern Trust stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $112.67, for a total value of $252,042.79. Following the transaction, the insider now directly owns 58,449 shares in the company, valued at $6,585,448.83. This trade represents a 3.69 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Peter Cherecwich sold 26,132 shares of the business’s stock in a transaction 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 completion of the transaction, the chief operating officer now directly owns 26,586 shares in the company, valued at $2,987,202.96. This represents a 49.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,335 shares of company stock worth $3,970,211 in the last quarter. Company insiders own 0.64% of the company’s stock.

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.