Commerce Bank Has $5.05 Million Stock Holdings in Northern Trust Co. (NASDAQ:NTRS)

Commerce Bank reduced its stake in shares of Northern Trust Co. (NASDAQ:NTRS) by 7.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 49,223 shares of the asset manager’s stock after selling 3,772 shares during the quarter. Commerce Bank’s holdings in Northern Trust were worth $5,045,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of NTRS. Alpha DNA Investment Management LLC acquired a new position in Northern Trust during the fourth quarter valued at approximately $741,000. Farringdon Capital Ltd. bought a new stake in shares of Northern Trust during the 4th quarter worth $304,000. Ontario Teachers Pension Plan Board boosted its stake in Northern Trust by 91.2% in the fourth quarter. Ontario Teachers Pension Plan Board now owns 8,290 shares of the asset manager’s stock valued at $850,000 after buying an additional 3,954 shares in the last quarter. Aware Super Pty Ltd as trustee of Aware Super acquired a new position in Northern Trust during the fourth quarter worth about $4,042,000. Finally, Canada Post Corp Registered Pension Plan bought a new position in shares of Northern Trust in the fourth quarter worth about $383,000. Institutional investors own 83.19% of the company’s stock.

Northern Trust Price Performance

Northern Trust stock opened at $88.29 on Friday. The stock’s 50 day moving average price is $99.92 and its two-hundred day moving average price is $102.81. The stock has a market capitalization of $17.28 billion, a price-to-earnings ratio of 9.03, a PEG ratio of 1.72 and a beta of 1.10. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.68. Northern Trust Co. has a 52-week low of $79.68 and a 52-week high of $114.67.

Northern Trust (NASDAQ:NTRS) last issued its 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 net margin of 12.77% and a return on equity of 13.74%. On average, equities analysts predict that Northern Trust Co. will post 8.27 earnings per share for the current year.

Northern Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date was Friday, March 14th. Northern Trust’s payout ratio is 30.67%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on NTRS. Evercore ISI dropped 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 research note on Tuesday, April 1st. Wells Fargo & Company dropped their target price on Northern Trust from $119.00 to $118.00 and set an “equal weight” rating for the company in a research report on Friday, March 28th. Royal Bank of Canada raised their price objective on shares of Northern Trust from $107.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, January 24th. UBS Group raised their price target on shares of Northern Trust from $110.00 to $114.00 and gave the company a “neutral” rating in a research note on Monday, January 27th. Finally, Truist Financial decreased their price objective on Northern Trust from $116.00 to $98.00 and set a “hold” rating for the company in a report on Friday, April 4th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $113.08.

Insider Buying and Selling

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 completion of the sale, the insider now owns 58,449 shares of the company’s stock, valued at approximately $6,585,448.83. This trade represents a 3.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Thomas A. South sold 3,804 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $113.00, for a total transaction of $429,852.00. Following the sale, the executive vice president now owns 81,794 shares of the company’s stock, valued at $9,242,722. This trade represents a 4.44 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,335 shares of company stock valued at $3,970,211. 0.77% of the stock is owned by company insiders.

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.