Empirical Finance LLC Reduces Holdings in Northern Trust Co. (NASDAQ:NTRS)

Empirical Finance LLC lessened its holdings in Northern Trust Co. (NASDAQ:NTRS) by 1.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,066 shares of the asset manager’s stock after selling 98 shares during the period. Empirical Finance LLC’s holdings in Northern Trust were worth $724,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of NTRS. Ballentine Partners LLC lifted 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 valued at $255,000 after buying an additional 105 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Northern Trust by 24.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,061 shares of the asset manager’s stock valued at $2,286,000 after acquiring an additional 4,374 shares in the last quarter. JPMorgan Chase & Co. increased its position in Northern Trust by 9.9% during the 3rd 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 in the last quarter. Kovitz Investment Group Partners LLC raised its stake in Northern Trust by 68.1% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 13,765 shares of the asset manager’s stock valued at $1,239,000 after purchasing an additional 5,578 shares during the last quarter. Finally, Agate Pass Investment Management LLC purchased a new position in Northern Trust in the 4th quarter valued at about $538,000. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Northern Trust Stock Down 2.2 %

Shares of NASDAQ:NTRS opened at $111.00 on Tuesday. Northern Trust Co. has a 1 year low of $76.67 and a 1 year high of $114.67. The stock has a 50-day simple moving average of $106.44 and a 200-day simple moving average of $98.51. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.68. The stock has a market capitalization of $22.00 billion, a P/E ratio of 11.35, a PEG ratio of 1.74 and a beta of 1.08.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings data 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%. Equities analysts forecast that Northern Trust Co. will post 8.2 earnings per share for the current year.

Northern Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date is Friday, March 14th. Northern Trust’s dividend payout ratio is presently 30.67%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on NTRS shares. Truist Financial boosted their price objective on shares of Northern Trust from $110.00 to $116.00 and gave the company a “hold” rating in a research report on Friday, January 24th. Evercore ISI increased their price target on Northern Trust from $86.00 to $103.00 and gave the stock an “in-line” rating in a research note on Thursday, October 24th. Royal Bank of Canada raised their price objective on Northern Trust from $107.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, January 24th. Keefe, Bruyette & Woods upped their target price 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. Finally, Wells Fargo & Company raised their price target on Northern Trust from $108.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Friday, November 15th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $112.58.

Insider Transactions at Northern Trust

In other news, insider John Landers sold 900 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $111.44, for a total transaction of $100,296.00. Following the transaction, the insider now directly owns 7,640 shares of the company’s stock, valued at approximately $851,401.60. The trade was a 10.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Vice Chairman Steven L. Fradkin sold 9,100 shares of the firm’s stock in a transaction on 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. The trade was a 15.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 40,631 shares of company stock valued at $4,550,459 over the last quarter. Company insiders own 0.64% 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.