Northern Trust Co. (NASDAQ:NTRS) Shares Sold by Westpac Banking Corp

Westpac Banking Corp trimmed its holdings in Northern Trust Co. (NASDAQ:NTRS) by 8.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,051 shares of the asset manager’s stock after selling 181 shares during the quarter. Westpac Banking Corp’s holdings in Northern Trust were worth $210,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Y.D. More Investments Ltd grew its position in shares of Northern Trust by 118.4% in the 4th quarter. Y.D. More Investments Ltd now owns 249 shares of the asset manager’s stock valued at $26,000 after buying an additional 135 shares during the last quarter. Assetmark Inc. grew its holdings in shares of Northern Trust by 528.3% during the fourth quarter. Assetmark Inc. now owns 377 shares of the asset manager’s stock worth $39,000 after purchasing an additional 317 shares during the last quarter. Brooklyn Investment Group increased its position in shares of Northern Trust by 51.2% during the fourth quarter. Brooklyn Investment Group now owns 378 shares of the asset manager’s stock worth $39,000 after purchasing an additional 128 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Northern Trust by 83.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 494 shares of the asset manager’s stock valued at $51,000 after purchasing an additional 224 shares during the last quarter. Finally, Friedenthal Financial acquired a new stake in shares of Northern Trust in the 4th quarter valued at about $57,000. 83.19% of the stock is currently owned by hedge funds and other institutional investors.

Northern Trust Stock Down 5.0 %

NTRS opened at $86.01 on Friday. The business has a 50 day simple moving average of $105.63 and a 200-day simple moving average of $102.99. Northern Trust Co. has a 12 month low of $79.32 and a 12 month high of $114.67. The stock has a market capitalization of $16.83 billion, a P/E ratio of 8.79, a P/E/G ratio of 1.72 and a beta of 1.10. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.68 and a quick ratio of 0.71.

Northern Trust (NASDAQ:NTRS) last issued its earnings results on Thursday, January 23rd. The asset manager reported $2.26 EPS for the quarter, topping the consensus estimate of $1.96 by $0.30. Northern Trust had a net margin of 12.77% and a return on equity of 13.74%. On average, equities analysts anticipate that Northern Trust Co. will post 8.27 earnings per share for the current fiscal year.

Northern Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were issued a $0.75 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $3.00 dividend on an annualized basis and a yield of 3.49%. Northern Trust’s dividend payout ratio (DPR) is presently 30.67%.

Insider Activity

In other Northern Trust news, COO Peter Cherecwich sold 26,132 shares of the company’s stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $112.36, for a total value of $2,936,191.52. Following the sale, the chief operating officer now owns 26,586 shares of the company’s stock, valued at approximately $2,987,202.96. This represents a 49.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Thomas A. South sold 3,804 shares of Northern Trust stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $113.00, for a total value of $429,852.00. Following the transaction, the executive vice president now directly owns 81,794 shares of the company’s stock, valued at $9,242,722. This trade represents a 4.44 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 35,335 shares of company stock worth $3,970,211. Company insiders own 0.77% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. StockNews.com lowered Northern Trust from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Barclays raised their target price on shares of Northern Trust from $115.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. Evercore ISI reduced their price target on shares of Northern Trust from $113.00 to $104.00 and set an “in-line” rating for the company in a research report on Tuesday. Royal Bank of Canada raised their price objective on shares of Northern Trust from $107.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, January 24th. Finally, Wells Fargo & Company reduced their target price on shares of Northern Trust from $119.00 to $118.00 and set an “equal weight” rating for the company in a report on Friday, March 28th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $112.31.

About Northern Trust

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.