Northern Trust Corporation $NTRS Stock Position Lowered by AIA Group Ltd

AIA Group Ltd reduced its position in shares of Northern Trust Corporation (NASDAQ:NTRS) by 53.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 196,191 shares of the asset manager’s stock after selling 226,913 shares during the period. AIA Group Ltd’s holdings in Northern Trust were worth $26,407,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. New Age Alpha Advisors LLC grew its stake in shares of Northern Trust by 4.9% in the 3rd quarter. New Age Alpha Advisors LLC now owns 1,659 shares of the asset manager’s stock worth $223,000 after purchasing an additional 78 shares during the last quarter. Salomon & Ludwin LLC raised its holdings in shares of Northern Trust by 13.1% in the 3rd quarter. Salomon & Ludwin LLC now owns 682 shares of the asset manager’s stock worth $90,000 after purchasing an additional 79 shares in the last quarter. Compound Planning Inc. lifted its stake in Northern Trust by 5.1% during the third quarter. Compound Planning Inc. now owns 1,666 shares of the asset manager’s stock valued at $224,000 after purchasing an additional 81 shares during the last quarter. NorthRock Partners LLC boosted its holdings in Northern Trust by 2.2% during the third quarter. NorthRock Partners LLC now owns 3,812 shares of the asset manager’s stock worth $513,000 after buying an additional 83 shares in the last quarter. Finally, HighPoint Advisor Group LLC grew its position in Northern Trust by 2.3% in the third quarter. HighPoint Advisor Group LLC now owns 3,717 shares of the asset manager’s stock worth $500,000 after buying an additional 84 shares during the last quarter. 83.19% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on NTRS shares. Truist Financial set a $148.00 price target on Northern Trust in a report on Wednesday, January 7th. Weiss Ratings restated a “buy (b-)” rating on shares of Northern Trust in a report on Thursday, January 22nd. Wells Fargo & Company boosted their target price on Northern Trust from $145.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Friday, January 23rd. Barclays increased their price target on Northern Trust from $136.00 to $160.00 and gave the company an “equal weight” rating in a research report on Monday, January 5th. Finally, TD Cowen lifted their price target on Northern Trust from $165.00 to $175.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $148.75.

Insiders Place Their Bets

In other Northern Trust news, CFO David W. Fox, Jr. sold 3,255 shares of the stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $143.89, for a total transaction of $468,361.95. Following the transaction, the chief financial officer owned 14,552 shares in the company, valued at $2,093,887.28. This trade represents a 18.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Guy Gibson sold 3,009 shares of Northern Trust stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $142.39, for a total transaction of $428,451.51. Following the completion of the transaction, the insider directly owned 29,332 shares in the company, valued at approximately $4,176,583.48. This represents a 9.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 34,905 shares of company stock worth $5,166,714 in the last three months. 0.77% of the stock is owned by insiders.

Northern Trust Stock Down 1.4%

NTRS stock opened at $134.87 on Thursday. The firm has a market cap of $24.99 billion, a PE ratio of 15.43, a PEG ratio of 1.08 and a beta of 1.27. Northern Trust Corporation has a 1 year low of $81.62 and a 1 year high of $157.60. The company has a fifty day simple moving average of $145.21 and a 200 day simple moving average of $136.43. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.57.

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

Northern Trust Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, March 6th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.4%. Northern Trust’s dividend payout ratio is currently 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.