Cresset Asset Management LLC Trims Stock Holdings in Northern Trust Co. (NASDAQ:NTRS)

Cresset Asset Management LLC trimmed its holdings in Northern Trust Co. (NASDAQ:NTRS) by 73.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 6,974 shares of the asset manager’s stock after selling 19,373 shares during the quarter. Cresset Asset Management LLC’s holdings in Northern Trust were worth $720,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Y.D. More Investments Ltd grew its stake in 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 in the last quarter. Assetmark Inc. grew its stake in Northern Trust by 528.3% in the 4th quarter. Assetmark Inc. now owns 377 shares of the asset manager’s stock valued at $39,000 after buying an additional 317 shares in the last quarter. Brooklyn Investment Group grew its position in shares of Northern Trust by 51.2% during the 4th quarter. Brooklyn Investment Group now owns 378 shares of the asset manager’s stock valued at $39,000 after purchasing an additional 128 shares in the last quarter. Coppell Advisory Solutions LLC bought a new position in shares of Northern Trust in the fourth quarter worth $44,000. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Northern Trust by 83.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 494 shares of the asset manager’s stock worth $51,000 after purchasing an additional 224 shares during the period. 83.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Northern Trust

In related news, EVP Clive Bellows sold 3,300 shares of the stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $99.95, for a total transaction of $329,835.00. Following the completion of the sale, the executive vice president now directly owns 28,736 shares in the company, valued at $2,872,163.20. This represents a 10.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Thomas A. South sold 3,804 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 81,794 shares of the company’s stock, valued at approximately $9,242,722. This trade represents a 4.44% decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,571 shares of company stock worth $1,410,397 in the last ninety days. 0.77% of the stock is owned by company insiders.

Northern Trust Price Performance

NTRS opened at $107.14 on Wednesday. The stock has a 50-day moving average price of $95.06 and a 200-day moving average price of $102.95. Northern Trust Co. has a 12-month low of $79.68 and a 12-month high of $114.67. The company has a current ratio of 0.68, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $20.84 billion, a P/E ratio of 10.96, a PEG ratio of 1.72 and a beta of 1.18.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings data on Tuesday, April 22nd. The asset manager reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.05. The firm had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.95 billion. Northern Trust had a return on equity of 13.74% and a net margin of 12.77%. Equities analysts predict 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 will be paid on Tuesday, July 1st. Investors of record on Friday, June 6th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.80%. The ex-dividend date is Friday, June 6th. Northern Trust’s dividend payout ratio is presently 27.99%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on NTRS shares. StockNews.com lowered Northern Trust from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. UBS Group boosted their target price on Northern Trust from $110.00 to $114.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. Citigroup reduced their target price on Northern Trust from $110.00 to $105.00 and set a “neutral” rating for the company in a research report on Monday, March 24th. The Goldman Sachs Group boosted their target price on Northern Trust from $92.00 to $102.00 and gave the stock a “sell” rating in a research report on Friday, January 24th. Finally, Bank of America reduced their target price on Northern Trust from $123.00 to $121.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $110.83.

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.