Nicholas Company Inc. Sells 11,660 Shares of Northern Trust Corporation $NTRS

Nicholas Company Inc. trimmed its position in shares of Northern Trust Corporation (NASDAQ:NTRS) by 12.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 78,776 shares of the asset manager’s stock after selling 11,660 shares during the quarter. Nicholas Company Inc.’s holdings in Northern Trust were worth $10,760,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NTRS. PFA Pension Forsikringsaktieselskab bought a new position in shares of Northern Trust during the fourth quarter worth $67,126,000. Jupiter Asset Management Ltd. bought a new position in shares of Northern Trust during the third quarter worth $64,863,000. AQR Capital Management LLC boosted its position in shares of Northern Trust by 67.1% during the third quarter. AQR Capital Management LLC now owns 1,019,531 shares of the asset manager’s stock worth $136,750,000 after purchasing an additional 409,434 shares in the last quarter. Barclays PLC boosted its position in shares of Northern Trust by 62.4% during the third quarter. Barclays PLC now owns 1,042,084 shares of the asset manager’s stock worth $140,265,000 after purchasing an additional 400,247 shares in the last quarter. Finally, Balyasny Asset Management L.P. bought a new position in shares of Northern Trust during the second quarter worth $42,698,000. 83.19% of the stock is owned by institutional investors.

Northern Trust Stock Performance

Shares of NASDAQ:NTRS opened at $160.41 on Monday. The company’s 50-day moving average price is $148.41 and its two-hundred day moving average price is $141.76. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.62 and a quick ratio of 0.62. Northern Trust Corporation has a one year low of $100.01 and a one year high of $173.18. The stock has a market capitalization of $29.68 billion, a PE ratio of 16.80, a price-to-earnings-growth ratio of 1.16 and a beta of 1.27.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings results on Tuesday, April 21st. The asset manager reported $2.71 EPS for the quarter, topping the consensus estimate of $2.37 by $0.34. Northern Trust had a net margin of 12.84% and a return on equity of 15.94%. The firm had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same period in the previous year, the firm posted $1.90 EPS. The company’s revenue for the quarter was up 13.8% on a year-over-year basis. On average, equities analysts forecast that Northern Trust Corporation will post 10.63 EPS for the current fiscal year.

Northern Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 5th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $3.20 annualized dividend and a yield of 2.0%. Northern Trust’s payout ratio is 33.51%.

Insider Buying and Selling at Northern Trust

In other Northern Trust news, insider Clive Bellows sold 2,800 shares of the business’s stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $165.02, for a total transaction of $462,056.00. Following the sale, the insider directly owned 28,217 shares of the company’s stock, valued at $4,656,369.34. The trade was a 9.03% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO David W. Fox, Jr. sold 19,987 shares of the business’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $166.16, for a total transaction of $3,321,039.92. Following the sale, the chief financial officer directly owned 18,588 shares in the company, valued at $3,088,582.08. This trade represents a 51.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 32,705 shares of company stock valued at $5,211,464. Corporate insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

NTRS has been the topic of a number of recent analyst reports. Wells Fargo & Company lifted their price target on shares of Northern Trust from $150.00 to $175.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 22nd. Evercore lifted their price target on shares of Northern Trust from $142.00 to $155.00 and gave the stock an “in-line” rating in a research report on Friday, January 23rd. Morgan Stanley lifted their price target on shares of Northern Trust from $131.00 to $140.00 and gave the stock an “underweight” rating in a research report on Friday, January 23rd. The Goldman Sachs Group raised their price objective on shares of Northern Trust from $151.00 to $169.00 and gave the stock a “neutral” rating in a report on Wednesday, April 22nd. Finally, Truist Financial raised their price objective on shares of Northern Trust from $155.00 to $176.00 and gave the stock a “hold” rating in a report on Wednesday, April 22nd. Four research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Northern Trust has an average rating of “Hold” and a consensus target price of $163.55.

Northern Trust Company Profile

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.