Northern Trust Corporation $NTRS Shares Sold by AustralianSuper Pty Ltd

AustralianSuper Pty Ltd reduced its holdings in shares of Northern Trust Corporation (NASDAQ:NTRS) by 35.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 40,975 shares of the asset manager’s stock after selling 22,662 shares during the quarter. AustralianSuper Pty Ltd’s holdings in Northern Trust were worth $5,515,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. FNY Investment Advisers LLC acquired a new stake in Northern Trust in the second quarter valued at $25,000. Hantz Financial Services Inc. increased its position in shares of Northern Trust by 5,225.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 213 shares of the asset manager’s stock worth $27,000 after purchasing an additional 209 shares during the last quarter. AlphaCore Capital LLC raised its stake in shares of Northern Trust by 87.4% in the 2nd quarter. AlphaCore Capital LLC now owns 208 shares of the asset manager’s stock valued at $27,000 after purchasing an additional 97 shares in the last quarter. Clearstead Trust LLC bought a new position in shares of Northern Trust during the second quarter worth about $29,000. Finally, GFG Capital LLC acquired a new position in Northern Trust in the second quarter worth about $35,000. Institutional investors own 83.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on NTRS. Truist Financial set a $148.00 price objective on Northern Trust in a research note on Wednesday, January 7th. Zacks Research upgraded Northern Trust from a “hold” rating to a “strong-buy” rating in a report on Friday, January 23rd. Keefe, Bruyette & Woods raised their price objective on Northern Trust from $123.00 to $125.00 and gave the stock an “underperform” rating in a research note on Thursday, October 23rd. Morgan Stanley lifted their price objective on shares of Northern Trust from $131.00 to $140.00 and gave the stock an “underweight” rating in a report on Friday, January 23rd. Finally, Evercore ISI increased their target price on shares of Northern Trust from $142.00 to $155.00 and gave the stock an “in-line” rating in a report on Friday, January 23rd. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, Northern Trust currently has an average rating of “Hold” and an average target price of $148.75.

Insiders Place Their Bets

In related news, COO Peter Cherecwich sold 25,000 shares of the stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $149.62, for a total value of $3,740,500.00. Following the completion of the transaction, the chief operating officer directly owned 26,259 shares of the company’s stock, valued at $3,928,871.58. This represents a 48.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robert Edward Jr. Moritz bought 3,891 shares of the stock in a transaction that occurred on Tuesday, November 4th. The stock was acquired at an average price of $128.57 per share, for a total transaction of $500,265.87. Following the completion of the transaction, the director owned 6,686 shares in the company, valued at $859,619.02. This trade represents a 139.21% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have sold 53,357 shares of company stock valued at $7,370,987. Corporate insiders own 0.77% of the company’s stock.

Northern Trust Stock Performance

Shares of NTRS opened at $150.66 on Friday. The firm has a fifty day moving average of $139.89 and a 200-day moving average of $132.49. The company has a market cap of $28.49 billion, a price-to-earnings ratio of 17.24, a price-to-earnings-growth ratio of 1.22 and a beta of 1.27. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.70 and a current ratio of 0.69. Northern Trust Corporation has a 1 year low of $81.62 and a 1 year high of $157.60.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings data on Friday, January 30th. The asset manager reported $2.42 earnings per share for the quarter, topping analysts’ consensus estimates of $2.37 by $0.05. The business had revenue of $3.15 billion for the quarter. Northern Trust had a net margin of 12.15% and a return on equity of 14.87%. The firm’s revenue was up 8.4% on a year-over-year basis. During the same period last year, the business earned $2.26 EPS. As a group, equities analysts anticipate that Northern Trust Corporation will post 8.27 earnings per share for the current year.

Northern Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Friday, March 6th will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Friday, March 6th. Northern Trust’s payout ratio is 36.61%.

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.