NFJ Investment Group LLC Lowers Stock Holdings in Northern Trust Corporation $NTRS

NFJ Investment Group LLC trimmed its holdings in shares of Northern Trust Corporation (NASDAQ:NTRS) by 8.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 40,009 shares of the asset manager’s stock after selling 3,584 shares during the period. NFJ Investment Group LLC’s holdings in Northern Trust were worth $5,465,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in NTRS. Empowered Funds LLC lifted its holdings in shares of Northern Trust by 13.3% during the first quarter. Empowered Funds LLC now owns 20,112 shares of the asset manager’s stock valued at $1,984,000 after purchasing an additional 2,363 shares during the last quarter. Woodline Partners LP lifted its holdings in shares of Northern Trust by 39.1% during the first quarter. Woodline Partners LP now owns 16,557 shares of the asset manager’s stock valued at $1,633,000 after purchasing an additional 4,653 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Northern Trust by 79.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,350 shares of the asset manager’s stock valued at $171,000 after purchasing an additional 596 shares during the last quarter. WINTON GROUP Ltd purchased a new position in shares of Northern Trust during the second quarter valued at approximately $267,000. Finally, Daiwa Securities Group Inc. lifted its holdings in shares of Northern Trust by 4.6% during the second quarter. Daiwa Securities Group Inc. now owns 29,290 shares of the asset manager’s stock valued at $3,714,000 after purchasing an additional 1,275 shares during the last quarter. 83.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on NTRS. Royal Bank Of Canada lifted their target price on shares of Northern Trust from $159.00 to $178.00 and gave the company an “outperform” rating in a report on Wednesday, April 22nd. Truist Financial lifted their target price on shares of Northern Trust from $155.00 to $176.00 and gave the company a “hold” rating in a report on Wednesday, April 22nd. Zacks Research upgraded shares of Northern Trust from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th. JPMorgan Chase & Co. boosted their price objective on shares of Northern Trust from $153.50 to $170.00 and gave the stock a “neutral” rating in a report on Monday, May 11th. Finally, Barclays boosted their price objective on shares of Northern Trust from $160.00 to $176.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $164.08.

Northern Trust Price Performance

Shares of NASDAQ NTRS opened at $174.34 on Friday. Northern Trust Corporation has a twelve month low of $107.08 and a twelve month high of $175.11. The firm has a market cap of $32.26 billion, a P/E ratio of 18.26, a PEG ratio of 1.25 and a beta of 1.25. The company has a 50 day moving average of $162.74 and a 200 day moving average of $148.87. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.51.

Northern Trust (NASDAQ:NTRS) last announced its earnings results on Tuesday, April 21st. The asset manager reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates of $2.37 by $0.34. The business had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.13 billion. Northern Trust had a net margin of 12.84% and a return on equity of 15.94%. The company’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.90 EPS. As a group, research analysts expect that Northern Trust Corporation will post 10.68 EPS for the current fiscal year.

Northern Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 5th will be paid a dividend of $0.80 per share. The ex-dividend date is Friday, June 5th. This represents a $3.20 dividend on an annualized basis and a yield of 1.8%. Northern Trust’s payout ratio is currently 33.51%.

Insider Buying and Selling at Northern Trust

In other Northern Trust news, CFO David W. Fox, Jr. sold 19,987 shares of the business’s stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $166.16, for a total transaction of $3,321,039.92. Following the completion of the sale, the chief financial officer directly owned 18,588 shares in the company, valued at approximately $3,088,582.08. The trade was a 51.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Clive Bellows sold 2,800 shares of the business’s stock in a transaction on 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 owned 28,217 shares of the company’s stock, valued at approximately $4,656,369.34. This represents a 9.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 22,800 shares of company stock worth $3,785,251. 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.