Northern Trust Co. (NASDAQ:NTRS) Shares Sold by National Bank of Canada FI

National Bank of Canada FI reduced its stake in Northern Trust Co. (NASDAQ:NTRS) by 9.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 92,826 shares of the asset manager’s stock after selling 10,248 shares during the period. National Bank of Canada FI’s holdings in Northern Trust were worth $9,515,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in NTRS. Y.D. More Investments Ltd lifted its position 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 purchasing an additional 135 shares in the last quarter. Empirical Asset Management LLC acquired a new position in Northern Trust in the 4th quarter worth $33,000. Brooklyn Investment Group lifted its holdings in Northern Trust by 51.2% in the 4th quarter. Brooklyn Investment Group now owns 378 shares of the asset manager’s stock worth $39,000 after buying an additional 128 shares in the last quarter. Assetmark Inc. grew its stake in shares of Northern Trust by 528.3% during the fourth quarter. Assetmark Inc. now owns 377 shares of the asset manager’s stock valued at $39,000 after acquiring an additional 317 shares in the last quarter. Finally, Proficio Capital Partners LLC purchased a new stake in shares of Northern Trust during the fourth quarter worth about $51,000. 83.19% of the stock is owned by hedge funds and other institutional investors.

Northern Trust Stock Performance

Shares of NASDAQ NTRS opened at $86.01 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.68 and a debt-to-equity ratio of 0.58. The firm’s 50-day moving average price is $105.63 and its two-hundred day moving average price is $103.08. Northern Trust Co. has a 52-week low of $79.32 and a 52-week high of $114.67. The stock has a market capitalization of $16.83 billion, a P/E ratio of 8.79, a P/E/G ratio of 1.72 and a beta of 1.10.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings results on Thursday, January 23rd. The asset manager reported $2.26 earnings per share (EPS) for the quarter, topping 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%. As a group, sell-side analysts forecast that Northern Trust Co. will post 8.27 earnings per share for the current year.

Northern Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 3.49%. The ex-dividend date of this dividend was Friday, March 14th. Northern Trust’s dividend payout ratio (DPR) is 30.67%.

Analyst Ratings Changes

A number of research analysts recently commented on NTRS shares. Truist Financial lowered their price objective on Northern Trust from $116.00 to $98.00 and set a “hold” rating for the company in a research note on Friday. Barclays raised their price target on shares of Northern Trust from $115.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. Keefe, Bruyette & Woods upped their price target on shares of Northern Trust from $113.00 to $122.00 and gave the company a “market perform” rating in a report on Friday, January 24th. Evercore ISI decreased their price objective on shares of Northern Trust from $113.00 to $104.00 and set an “in-line” rating for the company in a report on Tuesday, April 1st. Finally, Bank of America dropped their target price on shares of Northern Trust from $123.00 to $121.00 and set a “buy” rating for the company in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $112.31.

Insider Transactions at Northern Trust

In other Northern Trust news, insider Jason J. Tyler sold 2,237 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now owns 58,449 shares in the company, valued at approximately $6,585,448.83. This trade represents a 3.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Thomas A. South sold 3,804 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 35,335 shares of company stock worth $3,970,211. Insiders own 0.77% of the company’s stock.

About Northern Trust

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.