Northern Trust Co. (NASDAQ:NTRS) Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp trimmed its stake in shares of Northern Trust Co. (NASDAQ:NTRS) by 12.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 41,313 shares of the asset manager’s stock after selling 6,100 shares during the period. King Luther Capital Management Corp’s holdings in Northern Trust were worth $4,235,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of NTRS. Versor Investments LP acquired a new stake in shares of Northern Trust during the 3rd quarter valued at approximately $918,000. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Northern Trust by 2.3% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 452,702 shares of the asset manager’s stock valued at $40,757,000 after acquiring an additional 10,202 shares during the period. Victory Capital Management Inc. raised its position in shares of Northern Trust by 67.4% during the 3rd quarter. Victory Capital Management Inc. now owns 403,990 shares of the asset manager’s stock worth $36,371,000 after purchasing an additional 162,623 shares during the last quarter. Haverford Trust Co raised its position in shares of Northern Trust by 5.9% during the 3rd quarter. Haverford Trust Co now owns 2,904 shares of the asset manager’s stock worth $261,000 after purchasing an additional 163 shares during the last quarter. Finally, Huntington National Bank raised its position in shares of Northern Trust by 17.1% during the 3rd quarter. Huntington National Bank now owns 2,133 shares of the asset manager’s stock worth $192,000 after purchasing an additional 311 shares during the last quarter. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NTRS. Truist Financial lifted their price objective on Northern Trust from $110.00 to $116.00 and gave the stock a “hold” rating in a research report on Friday, January 24th. Morgan Stanley cut their price objective on Northern Trust from $138.00 to $136.00 and set an “equal weight” rating for the company in a research report on Thursday, March 6th. Barclays boosted their price target on Northern Trust from $115.00 to $118.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Royal Bank of Canada boosted their price objective on shares of Northern Trust from $107.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, January 24th. Finally, The Goldman Sachs Group boosted their price objective on shares of Northern Trust from $92.00 to $102.00 and gave the company a “sell” rating in a research note on Friday, January 24th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $113.50.

Northern Trust Stock Up 0.8 %

Shares of Northern Trust stock opened at $98.23 on Thursday. The company has a fifty day moving average price of $107.99 and a 200 day moving average price of $102.04. The company has a current ratio of 0.68, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. Northern Trust Co. has a twelve month low of $79.30 and a twelve month high of $114.67. The stock has a market cap of $19.22 billion, a price-to-earnings ratio of 10.04, a price-to-earnings-growth ratio of 1.72 and a beta of 1.07.

Northern Trust (NASDAQ:NTRS) last announced 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%. Equities research analysts forecast that Northern Trust Co. will post 8.27 earnings per share for the current fiscal year.

Northern Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a $0.75 dividend. The ex-dividend date is Friday, March 14th. This represents a $3.00 dividend on an annualized basis and a yield of 3.05%. Northern Trust’s payout ratio is currently 30.67%.

Insider Buying and Selling at Northern Trust

In other Northern Trust news, insider Jason J. Tyler sold 2,237 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 58,449 shares of the company’s stock, valued at $6,585,448.83. This 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, insider John Landers sold 900 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $111.44, for a total transaction of $100,296.00. Following the completion of 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 disclosure for this sale can be found here. Insiders sold a total of 35,335 shares of company stock valued at $3,970,211 in the last ninety days. 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.