Assenagon Asset Management S.A. Sells 24,479 Shares of Northern Trust Corporation $NTRS

Assenagon Asset Management S.A. trimmed its holdings in Northern Trust Corporation (NASDAQ:NTRS) by 87.6% in the first quarter, Holdings Channel reports. The institutional investor owned 3,458 shares of the asset manager’s stock after selling 24,479 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Northern Trust were worth $483,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Apollon Wealth Management LLC boosted its holdings in shares of Northern Trust by 1.9% in the 4th quarter. Apollon Wealth Management LLC now owns 4,379 shares of the asset manager’s stock valued at $598,000 after buying an additional 81 shares during the period. NorthRock Partners LLC raised its stake 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 acquiring an additional 83 shares during the period. MML Investors Services LLC raised its stake in Northern Trust by 1.3% during the fourth quarter. MML Investors Services LLC now owns 6,452 shares of the asset manager’s stock worth $881,000 after acquiring an additional 83 shares during the period. Signaturefd LLC lifted its holdings in Northern Trust by 2.7% in the fourth quarter. Signaturefd LLC now owns 3,551 shares of the asset manager’s stock worth $485,000 after acquiring an additional 93 shares during the last quarter. Finally, Transamerica Financial Advisors LLC boosted its stake in Northern Trust by 54.1% in the fourth quarter. Transamerica Financial Advisors LLC now owns 265 shares of the asset manager’s stock valued at $36,000 after acquiring an additional 93 shares during the period. Institutional investors own 83.19% of the company’s stock.

Insider Buying and Selling at Northern Trust

In other news, insider Clive Bellows sold 2,800 shares of the business’s stock in a transaction on Friday, April 24th. The stock was sold at an average price of $165.02, for a total value 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. The trade was a 9.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert Edward Jr. Moritz acquired 225 shares of the business’s stock in a transaction dated Friday, May 1st. The stock was purchased at an average price of $166.41 per share, with a total value of $37,442.25. Following the acquisition, the director owned 8,145 shares of the company’s stock, valued at approximately $1,355,409.45. This trade represents a 2.84% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders sold 22,800 shares of company stock valued at $3,785,251. 0.66% of the stock is owned by corporate insiders.

Northern Trust Price Performance

Northern Trust stock opened at $176.50 on Friday. Northern Trust Corporation has a 52 week low of $118.99 and a 52 week high of $178.70. The stock has a market cap of $32.66 billion, a price-to-earnings ratio of 18.48, a PEG ratio of 1.20 and a beta of 1.25. The company’s 50-day moving average price is $168.93 and its two-hundred day moving average price is $153.24. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.51.

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 company 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 business’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.90 EPS. On average, analysts expect that Northern Trust Corporation will post 11.21 EPS for the current fiscal year.

Northern Trust Dividend Announcement

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

Analyst Ratings Changes

Several research firms have recently commented on NTRS. Citigroup upped their target price on Northern Trust from $162.00 to $172.00 and gave the company a “neutral” rating in a report on Tuesday. The Goldman Sachs Group raised their price target on Northern Trust from $151.00 to $169.00 and gave the stock a “neutral” rating in a report on Wednesday, April 22nd. Royal Bank Of Canada boosted their price objective on Northern Trust from $159.00 to $178.00 and gave the company an “outperform” rating in a research report on Wednesday, April 22nd. Weiss Ratings upgraded Northern Trust from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 4th. Finally, JPMorgan Chase & Co. increased their target price on Northern Trust from $153.50 to $170.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $170.69.

Northern Trust Company 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.