SG Americas Securities LLC Trims Stock Holdings in Northern Trust Corporation $NTRS

SG Americas Securities LLC lowered its stake in shares of Northern Trust Corporation (NASDAQ:NTRS) by 11.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 159,857 shares of the asset manager’s stock after selling 20,448 shares during the quarter. SG Americas Securities LLC owned approximately 0.09% of Northern Trust worth $22,311,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. New Age Alpha Advisors LLC grew its position 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 acquiring an additional 78 shares in the last quarter. Compound Planning Inc. grew its position in Northern Trust by 5.1% in the 3rd quarter. Compound Planning Inc. now owns 1,666 shares of the asset manager’s stock worth $224,000 after purchasing an additional 81 shares during the last quarter. Apollon Wealth Management LLC grew its holdings in Northern Trust by 1.9% in the 4th quarter. Apollon Wealth Management LLC now owns 4,379 shares of the asset manager’s stock worth $598,000 after buying an additional 81 shares in the last quarter. NorthRock Partners LLC increased its holdings in shares of Northern Trust by 2.2% during the third quarter. NorthRock Partners LLC now owns 3,812 shares of the asset manager’s stock valued at $513,000 after purchasing an additional 83 shares during the period. Finally, MML Investors Services LLC increased its stake in Northern Trust by 1.3% during the 4th quarter. MML Investors Services LLC now owns 6,452 shares of the asset manager’s stock valued at $881,000 after buying an additional 83 shares during the period. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on NTRS. Barclays lifted their price target on Northern Trust from $160.00 to $176.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 22nd. The Goldman Sachs Group lifted their target price on Northern Trust from $151.00 to $169.00 and gave the stock a “neutral” rating in a report on Wednesday, April 22nd. BMO Capital Markets upgraded shares of Northern Trust from a “market perform” rating to an “outperform” rating and set a $168.00 price target on the stock in a research report on Monday, April 6th. JPMorgan Chase & Co. raised their price objective on shares of Northern Trust from $153.50 to $170.00 and gave the company a “neutral” rating in a research report on Monday, May 11th. Finally, Royal Bank Of Canada lifted their price objective on shares of Northern Trust from $159.00 to $178.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 22nd. One 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 MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $165.25.

Northern Trust Stock Down 1.3%

Shares of Northern Trust stock opened at $174.03 on Thursday. Northern Trust Corporation has a 12-month low of $118.53 and a 12-month high of $177.78. The firm has a market capitalization of $32.20 billion, a PE ratio of 18.22, a price-to-earnings-growth ratio of 1.26 and a beta of 1.25. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.51. The stock’s fifty day moving average is $166.91 and its 200-day moving average is $151.42.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings results on Tuesday, April 21st. The asset manager reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.37 by $0.34. The firm had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.13 billion. Northern Trust had a return on equity of 15.94% and a net margin of 12.84%.Northern Trust’s revenue was up 13.8% on a year-over-year basis. During the same quarter last year, the business posted $1.90 EPS. Equities analysts anticipate that Northern Trust Corporation will post 10.68 earnings per share for the current year.

Northern Trust Announces Dividend

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 issued 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 dividend yield of 1.8%. Northern Trust’s payout ratio is currently 33.51%.

Insider Activity at Northern Trust

In related news, CFO David W. Fox, Jr. sold 19,987 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer owned 18,588 shares of the company’s stock, valued at approximately $3,088,582.08. This trade represents a 51.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robert Edward Jr. Moritz acquired 225 shares of the stock in a transaction on Friday, May 1st. The shares were purchased at an average price of $166.41 per share, for a total transaction of $37,442.25. Following the completion of the transaction, the director owned 8,145 shares in the company, valued at approximately $1,355,409.45. This represents a 2.84% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders sold 22,800 shares of company stock worth $3,785,251. 0.66% of the stock is owned by corporate insiders.

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.