Kornitzer Capital Management Inc. KS Sells 1,497 Shares of Northern Trust Co. (NASDAQ:NTRS)

Kornitzer Capital Management Inc. KS decreased its position in shares of Northern Trust Co. (NASDAQ:NTRS) by 3.2% in the 4th quarter, HoldingsChannel reports. The fund owned 44,776 shares of the asset manager’s stock after selling 1,497 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Northern Trust were worth $4,590,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of NTRS. Allworth Financial LP grew its holdings in Northern Trust by 9.1% during the third quarter. Allworth Financial LP now owns 1,170 shares of the asset manager’s stock worth $105,000 after buying an additional 98 shares in the last quarter. Juncture Wealth Strategies LLC grew its holdings in Northern Trust by 2.4% during the fourth quarter. Juncture Wealth Strategies LLC now owns 4,212 shares of the asset manager’s stock worth $432,000 after buying an additional 100 shares in the last quarter. Ballentine Partners LLC grew its holdings in Northern Trust by 4.4% during the fourth quarter. Ballentine Partners LLC now owns 2,483 shares of the asset manager’s stock worth $255,000 after buying an additional 105 shares in the last quarter. Pallas Capital Advisors LLC grew its holdings in Northern Trust by 1.8% during the fourth quarter. Pallas Capital Advisors LLC now owns 6,091 shares of the asset manager’s stock worth $624,000 after buying an additional 107 shares in the last quarter. Finally, Mesirow Financial Investment Management Inc. grew its holdings in Northern Trust by 0.4% during the third quarter. Mesirow Financial Investment Management Inc. now owns 35,673 shares of the asset manager’s stock worth $3,212,000 after buying an additional 127 shares in the last quarter. Institutional investors own 83.19% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Morgan Stanley decreased their price target on Northern Trust from $127.00 to $125.00 and set an “equal weight” rating for the company in a report on Friday, January 3rd. The Goldman Sachs Group boosted their price objective on Northern Trust from $92.00 to $102.00 and gave the stock a “sell” rating in a research report on Friday, January 24th. Royal Bank of Canada boosted their price objective on Northern Trust from $107.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, January 24th. Barclays boosted their price objective on Northern Trust from $115.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. Finally, UBS Group boosted their price objective on Northern Trust from $110.00 to $114.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $112.58.

Northern Trust Stock Up 2.7 %

Shares of NASDAQ NTRS opened at $113.81 on Wednesday. Northern Trust Co. has a one year low of $78.75 and a one year high of $114.67. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.68 and a quick ratio of 0.71. The business’s fifty day moving average price is $106.64 and its 200-day moving average price is $99.46. The stock has a market capitalization of $22.56 billion, a PE ratio of 11.64, a P/E/G ratio of 1.74 and a beta of 1.08.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings results on Thursday, January 23rd. The asset manager reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $1.96 by $0.30. Northern Trust had a return on equity of 13.74% and a net margin of 12.77%. On average, equities research analysts anticipate that Northern Trust Co. will post 8.2 EPS for the current year.

Northern Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a dividend of $0.75 per share. The ex-dividend date is Friday, March 14th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.64%. Northern Trust’s dividend payout ratio is presently 30.67%.

Insider Buying and Selling

In related news, insider John Landers sold 900 shares of the stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $111.44, for a total transaction of $100,296.00. Following the sale, the insider now owns 7,640 shares of the company’s stock, valued at approximately $851,401.60. This represents a 10.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Jane Karpinski sold 2,262 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $111.33, for a total value of $251,828.46. Following the sale, the executive vice president now directly owns 17,236 shares in the company, valued at $1,918,883.88. This trade represents a 11.60 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 40,631 shares of company stock valued at $4,550,459. Corporate insiders own 0.64% of the company’s stock.

Northern Trust Profile

Northern Trust Corporation, a financial holding company, provides wealth management, asset servicing, asset management, and banking solutions for corporations, institutions, families, and individuals worldwide. It operates in two segments, Asset Servicing and Wealth Management. The Asset Servicing segment offers asset servicing and related services, including custody, fund administration, investment operations outsourcing, investment management, investment risk and analytical services, employee benefit services, securities lending, foreign exchange, treasury management, brokerage services, transition management services, banking, and cash management services.