Sumitomo Mitsui Trust Group Inc. Sells 35,976 Shares of Northern Trust Corporation $NTRS

Sumitomo Mitsui Trust Group Inc. lessened its stake in shares of Northern Trust Corporation (NASDAQ:NTRS) by 8.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 399,851 shares of the asset manager’s stock after selling 35,976 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Northern Trust were worth $55,807,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of NTRS. Triumph Capital Management acquired a new position in Northern Trust in the 3rd quarter valued at $25,000. Reflection Asset Management acquired a new position in Northern Trust during the 4th quarter worth $25,000. Board of the Pension Protection Fund acquired a new position in Northern Trust during the 4th quarter worth $27,000. Elyxium Wealth LLC bought a new stake in Northern Trust during the fourth quarter valued at about $34,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of Northern Trust in the fourth quarter valued at about $35,000. Institutional investors own 83.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Truist Financial lifted their price objective on Northern Trust from $176.00 to $186.00 and gave the stock a “hold” rating in a research note on Friday, June 26th. Royal Bank Of Canada increased their target price on Northern Trust from $159.00 to $178.00 and gave the company an “outperform” rating in a research note on Wednesday, April 22nd. BMO Capital Markets raised Northern Trust from a “market perform” rating to an “outperform” rating and set a $168.00 target price on the stock in a report on Monday, April 6th. Morgan Stanley lifted their price target on Northern Trust from $157.00 to $170.00 and gave the stock an “underweight” rating in a research report on Monday, June 29th. Finally, UBS Group set a $186.00 price target on Northern Trust in a report on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $178.75.

Northern Trust Stock Performance

Shares of NASDAQ:NTRS traded up $0.69 on Friday, hitting $183.55. 805,612 shares of the company were exchanged, compared to its average volume of 916,431. The company’s 50 day moving average price is $170.53 and its two-hundred day moving average price is $154.74. Northern Trust Corporation has a one year low of $118.99 and a one year high of $185.57. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.62 and a current ratio of 0.62. The firm has a market capitalization of $33.97 billion, a price-to-earnings ratio of 19.22, a PEG ratio of 1.17 and a beta of 1.25.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings data on Tuesday, April 21st. The asset manager reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.37 by $0.34. Northern Trust had a net margin of 12.84% and a return on equity of 15.94%. The business had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same quarter in the prior year, the business earned $1.90 earnings per share. The firm’s revenue for the quarter was up 13.8% on a year-over-year basis. Research analysts expect that Northern Trust Corporation will post 11.29 earnings per share for the current year.

Northern Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Friday, June 5th were issued a $0.80 dividend. The ex-dividend date of this dividend was Friday, June 5th. This represents a $3.20 annualized dividend and a yield of 1.7%. Northern Trust’s dividend payout ratio is 33.51%.

Insider Buying and Selling at Northern Trust

In other news, Director Robert Edward Jr. Moritz acquired 225 shares of Northern Trust stock in a transaction on Friday, May 1st. The stock was bought at an average price of $166.41 per share, for a total transaction of $37,442.25. Following the transaction, the director owned 8,145 shares of the company’s stock, valued at $1,355,409.45. The trade was a 2.84% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Clive Bellows sold 2,800 shares of Northern Trust stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $165.02, for a total value of $462,056.00. Following the sale, the insider directly owned 28,217 shares in the company, valued at $4,656,369.34. The trade was a 9.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 22,800 shares of company stock valued at $3,785,251 in the last quarter. Corporate insiders own 0.66% of the company’s stock.

Northern Trust 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.