Sumitomo Mitsui Trust Group Inc. decreased its holdings in Northern Trust Co. (NASDAQ:NTRS – Free Report) by 0.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 452,169 shares of the asset manager’s stock after selling 533 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.23% of Northern Trust worth $46,347,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Y.D. More Investments Ltd increased its holdings in shares of Northern Trust by 118.4% in the 4th quarter. Y.D. More Investments Ltd now owns 249 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 135 shares in the last quarter. Empirical Asset Management LLC purchased a new position in Northern Trust in the fourth quarter valued at about $33,000. Northwest Investment Counselors LLC acquired a new stake in shares of Northern Trust during the 3rd quarter valued at approximately $39,000. Brooklyn Investment Group boosted its stake in shares of Northern Trust by 51.2% during the 4th quarter. Brooklyn Investment Group now owns 378 shares of the asset manager’s stock worth $39,000 after acquiring an additional 128 shares in the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Northern Trust in the 3rd quarter worth approximately $48,000. Institutional investors and hedge funds own 83.19% of the company’s stock.
Insider Buying and Selling
In other news, Vice Chairman Steven L. Fradkin sold 9,100 shares of the company’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $111.00, for a total transaction of $1,010,100.00. Following the completion of the sale, the insider now directly owns 47,797 shares in the company, valued at $5,305,467. This represents a 15.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Jane Karpinski sold 2,262 shares of Northern Trust stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $111.33, for a total value of $251,828.46. Following the completion of the transaction, the executive vice president now owns 17,236 shares in the company, valued at $1,918,883.88. The trade was a 11.60 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 40,631 shares of company stock valued at $4,550,459. Insiders own 0.64% of the company’s stock.
Northern Trust Trading Down 2.2 %
Northern Trust (NASDAQ:NTRS – Get Free Report) last released its earnings results on Thursday, January 23rd. The asset manager reported $2.26 earnings per share 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, analysts forecast that Northern Trust Co. will post 8.2 EPS for the current year.
Northern Trust Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued 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 2.70%. Northern Trust’s payout ratio is 30.67%.
Analysts Set New Price Targets
NTRS has been the topic of a number of research analyst reports. The Goldman Sachs Group boosted their target price on Northern Trust from $92.00 to $102.00 and gave the stock a “sell” rating in a research report on Friday, January 24th. Bank of America boosted their price objective on shares of Northern Trust from $103.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Northern Trust from $100.00 to $108.00 and gave the company a “hold” rating in a report on Monday, November 11th. Truist Financial increased their price target 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. Finally, Evercore ISI lifted their price objective on Northern Trust from $86.00 to $103.00 and gave the stock an “in-line” rating in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $112.58.
Get Our Latest Stock Report on Northern Trust
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.
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