Sumitomo Mitsui Trust Holdings Inc. Sells 9,794 Shares of Northern Trust Co. (NASDAQ:NTRS)

Sumitomo Mitsui Trust Holdings Inc. lessened its position in shares of Northern Trust Co. (NASDAQ:NTRS) by 2.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 486,626 shares of the asset manager’s stock after selling 9,794 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.24% of Northern Trust worth $41,062,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fortitude Family Office LLC acquired a new stake in Northern Trust during the 4th quarter worth about $28,000. Quent Capital LLC boosted its position in shares of Northern Trust by 77.8% during the 4th quarter. Quent Capital LLC now owns 361 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 158 shares in the last quarter. Allworth Financial LP grew its stake in Northern Trust by 94.1% during the fourth quarter. Allworth Financial LP now owns 359 shares of the asset manager’s stock worth $30,000 after purchasing an additional 174 shares during the period. Belpointe Asset Management LLC grew its stake in Northern Trust by 84.5% during the first quarter. Belpointe Asset Management LLC now owns 393 shares of the asset manager’s stock worth $35,000 after purchasing an additional 180 shares during the period. Finally, Clear Street Markets LLC increased its holdings in Northern Trust by 93.4% in the first quarter. Clear Street Markets LLC now owns 408 shares of the asset manager’s stock worth $36,000 after purchasing an additional 197 shares in the last quarter. Institutional investors and hedge funds own 83.19% of the company’s stock.

Northern Trust Stock Up 0.0 %

NTRS stock opened at $81.45 on Friday. The firm has a market capitalization of $16.62 billion, a PE ratio of 17.98, a P/E/G ratio of 1.17 and a beta of 1.13. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.61. Northern Trust Co. has a twelve month low of $62.44 and a twelve month high of $89.25. The stock’s 50 day moving average is $83.26 and its 200-day moving average is $78.93.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings results on Thursday, January 18th. The asset manager reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.81). The company had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.71 billion. Northern Trust had a net margin of 7.59% and a return on equity of 12.57%. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.65 earnings per share. Sell-side analysts expect that Northern Trust Co. will post 6.82 EPS for the current fiscal year.

Northern Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 7th will be issued a $0.75 dividend. The ex-dividend date is Friday, June 7th. This represents a $3.00 annualized dividend and a dividend yield of 3.68%. Northern Trust’s dividend payout ratio is currently 66.23%.

Insider Activity at Northern Trust

In other Northern Trust news, insider Steven L. Fradkin sold 30,392 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $80.11, for a total value of $2,434,703.12. Following the completion of the sale, the insider now directly owns 55,707 shares of the company’s stock, valued at approximately $4,462,687.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.64% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Bank of America lifted their price objective on shares of Northern Trust from $93.00 to $101.00 and gave the company a “buy” rating in a research note on Wednesday. Morgan Stanley reiterated an “underweight” rating and set a $86.00 price objective (up previously from $82.00) on shares of Northern Trust in a report on Tuesday, January 30th. Royal Bank of Canada raised their target price on Northern Trust from $82.00 to $86.00 and gave the company an “outperform” rating in a research note on Friday, January 19th. Jefferies Financial Group boosted their target price on Northern Trust from $101.00 to $103.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Barclays increased their price target on Northern Trust from $90.00 to $98.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 2nd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $84.92.

Northern Trust Company Profile

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.