Kanawha Capital Management LLC Lowers Position in Northern Trust Co. (NASDAQ:NTRS)

Kanawha Capital Management LLC cut its stake in shares of Northern Trust Co. (NASDAQ:NTRS) by 4.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 34,601 shares of the asset manager’s stock after selling 1,452 shares during the period. Kanawha Capital Management LLC’s holdings in Northern Trust were worth $3,547,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. FMR LLC raised its holdings in Northern Trust by 9.3% during the third quarter. FMR LLC now owns 18,187,663 shares of the asset manager’s stock valued at $1,637,435,000 after acquiring an additional 1,542,685 shares during the period. KBC Group NV increased its holdings in shares of Northern Trust by 201.6% in the fourth quarter. KBC Group NV now owns 963,811 shares of the asset manager’s stock worth $98,791,000 after purchasing an additional 644,261 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Northern Trust by 9.9% in the third 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 during the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in shares of Northern Trust by 62.8% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 678,461 shares of the asset manager’s stock worth $69,542,000 after purchasing an additional 261,797 shares during the last quarter. Finally, International Assets Investment Management LLC increased its stake in Northern Trust by 93,421.2% during the third quarter. International Assets Investment Management LLC now owns 185,172 shares of the asset manager’s stock worth $152,194,000 after acquiring an additional 184,974 shares during the last quarter. 83.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. StockNews.com raised Northern Trust from a “hold” rating to a “buy” rating in a research note on Friday, January 24th. Evercore ISI boosted their price objective 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. Morgan Stanley reduced their price objective on Northern Trust from $127.00 to $125.00 and set an “equal weight” rating on the stock in a research note on Friday, January 3rd. Royal Bank of Canada boosted their target price on Northern Trust from $107.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, January 24th. Finally, Truist Financial boosted their target price on Northern Trust from $110.00 to $116.00 and gave the company a “hold” rating in a research report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $112.58.

Insider Buying and Selling

In related news, Vice Chairman Steven L. Fradkin sold 9,100 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $111.00, for a total value of $1,010,100.00. Following the completion of the transaction, the insider now owns 47,797 shares in the company, valued at $5,305,467. This trade represents a 15.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John Landers sold 900 shares of Northern Trust stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $111.44, for a total value of $100,296.00. Following the transaction, the insider now owns 7,640 shares of the company’s stock, valued at $851,401.60. The trade was a 10.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 40,631 shares of company stock worth $4,550,459 in the last 90 days. Insiders own 0.64% of the company’s stock.

Northern Trust Stock Performance

Shares of NTRS stock opened at $111.50 on Friday. The business’s fifty day simple moving average is $106.51 and its 200-day simple moving average is $98.90. The company has a market cap of $22.10 billion, a PE ratio of 11.40, a PEG ratio of 1.74 and a beta of 1.08. 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 12-month low of $78.24 and a 12-month high of $114.67.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings results on Thursday, January 23rd. The asset manager reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.96 by $0.30. Northern Trust had a return on equity of 13.74% and a net margin of 12.77%. Analysts expect that Northern Trust Co. will post 8.2 earnings per share for the current fiscal year.

Northern Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a $0.75 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $3.00 dividend on an annualized basis and a yield of 2.69%. Northern Trust’s dividend payout ratio (DPR) is 30.67%.

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.