Geode Capital Management LLC Reduces Position in Northern Trust Corporation $NTRS

Geode Capital Management LLC decreased its holdings in shares of Northern Trust Corporation (NASDAQ:NTRS) by 1.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,015,293 shares of the asset manager’s stock after selling 54,877 shares during the quarter. Geode Capital Management LLC’s holdings in Northern Trust were worth $682,403,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Triumph Capital Management purchased a new stake in shares of Northern Trust during the third quarter worth $25,000. Board of the Pension Protection Fund purchased a new stake in shares of Northern Trust during the fourth quarter worth $27,000. Elyxium Wealth LLC purchased a new stake in shares of Northern Trust during the fourth quarter worth $34,000. International Assets Investment Management LLC purchased a new stake in shares of Northern Trust during the fourth quarter worth $35,000. Finally, Olistico Wealth LLC purchased a new stake in shares of Northern Trust during the fourth quarter worth $41,000. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Northern Trust Trading Down 1.7%

Shares of NTRS opened at $165.45 on Friday. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.51. Northern Trust Corporation has a 12-month low of $104.99 and a 12-month high of $173.18. The firm has a 50-day moving average price of $156.30 and a 200 day moving average price of $145.90. The firm has a market capitalization of $30.62 billion, a P/E ratio of 17.32, a P/E/G ratio of 1.18 and a beta of 1.27.

Northern Trust (NASDAQ:NTRS) last announced its earnings results on Tuesday, April 21st. The asset manager reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.37 by $0.34. The company had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.13 billion. Northern Trust had a net margin of 12.84% and a return on equity of 15.94%. Northern Trust’s revenue was up 13.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.90 earnings per share. Sell-side analysts forecast that Northern Trust Corporation will post 10.68 EPS for the current year.

Northern Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 5th will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Friday, June 5th. Northern Trust’s dividend payout ratio (DPR) is 33.51%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on NTRS. JPMorgan Chase & Co. upped their price objective on shares of Northern Trust from $153.50 to $170.00 and gave the company a “neutral” rating in a report on Monday, May 11th. Barclays upped their price objective on shares of Northern Trust from $160.00 to $176.00 and gave the company an “equal weight” rating in a report on Wednesday, April 22nd. Weiss Ratings raised shares of Northern Trust from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. Truist Financial upped their price objective on shares of Northern Trust from $155.00 to $176.00 and gave the company a “hold” rating in a report on Wednesday, April 22nd. Finally, Royal Bank Of Canada upped their price objective on shares of Northern Trust from $159.00 to $178.00 and gave the company an “outperform” rating in a report on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $164.08.

Insider Activity at Northern Trust

In other Northern Trust news, insider Guy Gibson sold 3,009 shares of the stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $142.39, for a total transaction of $428,451.51. Following the completion of the transaction, the insider owned 29,332 shares of the company’s stock, valued at $4,176,583.48. This trade represents a 9.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robert Edward Jr. Moritz bought 225 shares of the stock in a transaction on Friday, May 1st. The shares were bought at an average cost of $166.41 per share, with a total value of $37,442.25. Following the purchase, the director owned 8,145 shares of the company’s stock, valued at $1,355,409.45. This trade represents a 2.84% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders sold 29,064 shares of company stock worth $4,682,064. 0.66% of the stock is owned by corporate insiders.

About Northern Trust

Northern Trust Corporation (NASDAQ: NTRS) is a global financial services firm headquartered in Chicago that provides asset servicing, asset management and wealth management solutions to institutions, corporations and high-net-worth individuals. The company’s core businesses include custody and fund administration, investment operations outsourcing, trust and fiduciary services, private banking, and retirement and defined contribution plan services.

Northern Trust’s product and service offerings span custody and fund accounting, portfolio and performance analytics, securities lending, cash management and foreign exchange, as well as discretionary and non-discretionary investment management.