TD Asset Management Inc Sells 3,382 Shares of Northern Trust Corporation $NTRS

TD Asset Management Inc trimmed its holdings in Northern Trust Corporation (NASDAQ:NTRS) by 4.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 68,702 shares of the asset manager’s stock after selling 3,382 shares during the quarter. TD Asset Management Inc’s holdings in Northern Trust were worth $9,384,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. State Street Corp boosted its position in shares of Northern Trust by 1.0% in the third quarter. State Street Corp now owns 9,493,634 shares of the asset manager’s stock valued at $1,285,236,000 after acquiring an additional 97,584 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Northern Trust by 5.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,894,755 shares of the asset manager’s stock valued at $395,395,000 after purchasing an additional 161,826 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Northern Trust by 6.0% in the third quarter. Dimensional Fund Advisors LP now owns 2,378,196 shares of the asset manager’s stock valued at $320,092,000 after purchasing an additional 133,751 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Northern Trust by 0.3% in the fourth quarter. Bank of New York Mellon Corp now owns 1,953,020 shares of the asset manager’s stock valued at $266,763,000 after purchasing an additional 5,564 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in shares of Northern Trust by 4.8% in the third quarter. First Trust Advisors LP now owns 1,924,707 shares of the asset manager’s stock valued at $259,066,000 after purchasing an additional 88,699 shares in the last quarter. 83.19% of the stock is owned by institutional investors.

Northern Trust Price Performance

Shares of NTRS stock opened at $170.60 on Wednesday. The stock’s fifty day moving average is $160.86 and its 200-day moving average is $148.10. 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 stock has a market capitalization of $31.57 billion, a PE ratio of 17.86, a PEG ratio of 1.21 and a beta of 1.25. Northern Trust Corporation has a 52 week low of $107.08 and a 52 week high of $173.66.

Northern Trust (NASDAQ:NTRS) last announced its 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 return on equity of 15.94% and a net margin of 12.84%.The company had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter in the prior year, the business earned $1.90 earnings per share. The business’s revenue for the quarter was up 13.8% on a year-over-year basis. Equities research analysts expect that Northern Trust Corporation will post 10.68 EPS for the current fiscal year.

Northern Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 5th will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, June 5th. Northern Trust’s dividend payout ratio is 33.51%.

Insider Activity

In other news, insider Clive Bellows sold 2,800 shares of the company’s stock in a transaction on Friday, April 24th. The stock was sold at an average price of $165.02, for a total transaction of $462,056.00. Following the transaction, the insider owned 28,217 shares of the company’s stock, valued at $4,656,369.34. This represents a 9.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO David W. Fox, Jr. sold 19,987 shares of the company’s stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $166.16, for a total value of $3,321,039.92. Following the transaction, 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 position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 22,800 shares of company stock valued at $3,785,251 over the last 90 days. 0.66% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on NTRS. Barclays upped their target price on Northern Trust from $160.00 to $176.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 22nd. Citigroup began coverage on Northern Trust in a research note on Monday, February 23rd. They issued a “neutral” rating for the company. Royal Bank Of Canada upped 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. Weiss Ratings upgraded Northern Trust from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 4th. Finally, Zacks Research upgraded Northern Trust from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $164.08.

About Northern Trust

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.