Northern Trust Co. (NASDAQ:NTRS) Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA cut its holdings in shares of Northern Trust Co. (NASDAQ:NTRS) by 5.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,720,607 shares of the asset manager’s stock after selling 364,510 shares during the period. Primecap Management Co. CA’s holdings in Northern Trust were worth $688,862,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of NTRS. FMR LLC grew its stake in Northern Trust by 9.3% in the third quarter. FMR LLC now owns 18,187,663 shares of the asset manager’s stock worth $1,637,435,000 after purchasing an additional 1,542,685 shares in the last quarter. KBC Group NV grew its stake in Northern Trust by 201.6% in the fourth quarter. KBC Group NV now owns 963,811 shares of the asset manager’s stock worth $98,791,000 after purchasing an additional 644,261 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Northern Trust by 9.9% in the third quarter. JPMorgan Chase & Co. now owns 4,296,442 shares of the asset manager’s stock worth $386,809,000 after purchasing an additional 388,692 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its stake in Northern Trust by 62.8% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 678,461 shares of the asset manager’s stock worth $69,542,000 after purchasing an additional 261,797 shares in the last quarter. Finally, NFJ Investment Group LLC bought a new position in Northern Trust in the third quarter worth about $7,682,000. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Northern Trust news, COO Peter Cherecwich sold 26,132 shares of Northern Trust stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $112.36, for a total value of $2,936,191.52. Following the transaction, the chief operating officer now owns 26,586 shares in the company, valued at approximately $2,987,202.96. The trade was a 49.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Thomas A. South sold 3,804 shares of Northern Trust stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $113.00, for a total transaction of $429,852.00. Following the transaction, the executive vice president now owns 81,794 shares in the company, valued at approximately $9,242,722. The trade was a 4.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 35,335 shares of company stock worth $3,970,211. 0.64% of the stock is owned by insiders.

Northern Trust Price Performance

Shares of NASDAQ:NTRS opened at $98.68 on Tuesday. Northern Trust Co. has a 12 month low of $79.32 and a 12 month high of $114.67. The stock has a market cap of $19.31 billion, a price-to-earnings ratio of 10.09, a PEG ratio of 1.72 and a beta of 1.07. The stock’s 50 day moving average price is $107.65 and its 200 day moving average price is $102.32. 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 announced 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 return on equity of 13.74% and a net margin of 12.77%. Equities research analysts anticipate that Northern Trust Co. will post 8.27 earnings per share for the current fiscal year.

Northern Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a $0.75 dividend. The ex-dividend date is Friday, March 14th. This represents a $3.00 annualized dividend and a yield of 3.04%. Northern Trust’s dividend payout ratio (DPR) is 30.67%.

Wall Street Analyst Weigh In

NTRS has been the topic of a number of recent research reports. 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 report on Monday, January 6th. The Goldman Sachs Group raised their target price on shares of Northern Trust from $92.00 to $102.00 and gave the stock a “sell” rating in a report on Friday, January 24th. UBS Group raised their target price on shares of Northern Trust from $110.00 to $114.00 and gave the stock a “neutral” rating in a report on Monday, January 27th. Truist Financial raised their target price on shares of Northern Trust from $110.00 to $116.00 and gave the stock a “hold” rating in a report on Friday, January 24th. Finally, StockNews.com cut shares of Northern Trust from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Northern Trust has an average rating of “Hold” and an average target price of $113.50.

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.