Hsbc Holdings PLC Sells 105,413 Shares of Northern Trust Corporation $NTRS

Hsbc Holdings PLC reduced its position in shares of Northern Trust Corporation (NASDAQ:NTRS) by 15.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 569,812 shares of the asset manager’s stock after selling 105,413 shares during the period. Hsbc Holdings PLC’s holdings in Northern Trust were worth $78,040,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Corient Private Wealth LLC raised its holdings in shares of Northern Trust by 3.9% during the 4th quarter. Corient Private Wealth LLC now owns 400,809 shares of the asset manager’s stock worth $55,154,000 after buying an additional 15,221 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Northern Trust during the fourth quarter worth about $59,000. Reflection Asset Management acquired a new position in Northern Trust during the fourth quarter worth about $25,000. Kera Capital Partners Inc. lifted its holdings in shares of Northern Trust by 76.1% in the fourth quarter. Kera Capital Partners Inc. now owns 4,293 shares of the asset manager’s stock worth $642,000 after acquiring an additional 1,855 shares during the last quarter. Finally, MV Capital Management Inc. bought a new position in shares of Northern Trust in the fourth quarter worth about $232,000. 83.19% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO David W. Fox, Jr. sold 19,987 shares of the business’s stock in a transaction 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 sale, the chief financial officer owned 18,588 shares of the company’s stock, valued at $3,088,582.08. The trade was a 51.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Robert Edward Jr. Moritz acquired 225 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The stock was bought at an average price of $166.41 per share, with a total value of $37,442.25. Following the completion of the acquisition, the director directly owned 8,145 shares of the company’s stock, valued at $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. Over the last 90 days, insiders sold 22,800 shares of company stock valued at $3,785,251. Insiders own 0.66% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Zacks Research raised shares of Northern Trust from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th. Truist Financial increased their price objective on shares of Northern Trust from $176.00 to $186.00 and gave the company a “hold” rating in a research note on Friday, June 26th. The Goldman Sachs Group raised their target price on shares of Northern Trust from $151.00 to $169.00 and gave the company a “neutral” rating in a research report on Wednesday, April 22nd. UBS Group set a $186.00 target price on shares of Northern Trust in a research note on Friday, June 26th. Finally, Wells Fargo & Company upped their price target on shares of Northern Trust from $175.00 to $189.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $170.69.

Northern Trust Stock Performance

NASDAQ:NTRS opened at $176.50 on Friday. The stock has a market cap of $32.66 billion, a P/E ratio of 18.48, a price-to-earnings-growth ratio of 1.20 and a beta of 1.25. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.51. The stock’s 50-day moving average is $168.93 and its 200-day moving average is $153.24. Northern Trust Corporation has a 1-year low of $118.99 and a 1-year high of $178.70.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings data on Tuesday, April 21st. The asset manager reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.37 by $0.34. Northern Trust had a net margin of 12.84% and a return on equity of 15.94%. The business had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same quarter last year, the business earned $1.90 EPS. The firm’s quarterly revenue was up 13.8% on a year-over-year basis. Equities research analysts anticipate that Northern Trust Corporation will post 11.21 earnings per share for the current year.

Northern Trust Dividend Announcement

The firm also recently declared 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 annualized dividend and a yield of 1.8%. The ex-dividend date was Friday, June 5th. Northern Trust’s dividend payout ratio is 33.51%.

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.