Resona Asset Management Co. Ltd. Has $8.12 Million Holdings in Northern Trust Corporation $NTRS

Resona Asset Management Co. Ltd. lessened its position in Northern Trust Corporation (NASDAQ:NTRS) by 7.0% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 59,185 shares of the asset manager’s stock after selling 4,437 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Northern Trust were worth $8,119,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. New Age Alpha Advisors LLC boosted its position in shares of Northern Trust by 4.9% during the third quarter. New Age Alpha Advisors LLC now owns 1,659 shares of the asset manager’s stock valued at $223,000 after buying an additional 78 shares during the last quarter. Compound Planning Inc. boosted its position in shares of Northern Trust by 5.1% during the third quarter. Compound Planning Inc. now owns 1,666 shares of the asset manager’s stock valued at $224,000 after buying an additional 81 shares during the last quarter. Apollon Wealth Management LLC boosted its position in shares of Northern Trust by 1.9% during the fourth quarter. Apollon Wealth Management LLC now owns 4,379 shares of the asset manager’s stock valued at $598,000 after buying an additional 81 shares during the last quarter. NorthRock Partners LLC boosted its position in shares of Northern Trust by 2.2% during the third quarter. NorthRock Partners LLC now owns 3,812 shares of the asset manager’s stock valued at $513,000 after buying an additional 83 shares during the last quarter. Finally, HighPoint Advisor Group LLC boosted its position in shares of Northern Trust by 2.3% during the third quarter. HighPoint Advisor Group LLC now owns 3,717 shares of the asset manager’s stock valued at $500,000 after buying an additional 84 shares during the last quarter. Institutional investors and hedge funds own 83.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Evercore lifted their target price on Northern Trust from $142.00 to $155.00 and gave the company an “in-line” rating in a research report on Friday, January 23rd. Weiss Ratings raised Northern Trust from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 4th. Barclays lifted their target price on Northern Trust from $160.00 to $176.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 22nd. JPMorgan Chase & Co. lifted their target price on Northern Trust from $153.50 to $170.00 and gave the company a “neutral” rating in a research report on Monday, May 11th. Finally, Wells Fargo & Company lifted their target price on Northern Trust from $150.00 to $175.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Northern Trust has an average rating of “Hold” and an average target price of $164.08.

Northern Trust Stock Performance

Shares of Northern Trust stock opened at $167.11 on Friday. The business’s fifty day simple moving average is $152.62 and its 200 day simple moving average is $144.35. The firm has a market capitalization of $30.92 billion, a P/E ratio of 17.50, a price-to-earnings-growth ratio of 1.19 and a beta of 1.27. Northern Trust Corporation has a 12 month low of $104.09 and a 12 month high of $173.18. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.51.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings results on Tuesday, April 21st. The asset manager reported $2.71 EPS for the quarter, topping analysts’ consensus estimates of $2.37 by $0.34. The business had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.13 billion. Northern Trust had a return on equity of 15.94% and a net margin of 12.84%.Northern Trust’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same period last year, the company posted $1.90 earnings per share. As a group, analysts anticipate that Northern Trust Corporation will post 10.68 EPS for the current year.

Northern Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Friday, June 5th will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Friday, June 5th. Northern Trust’s dividend payout ratio (DPR) is 33.51%.

Insiders Place Their Bets

In other Northern Trust news, Director Robert Edward Jr. Moritz purchased 225 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The shares were acquired at an average cost of $166.41 per share, for a total transaction of $37,442.25. Following the completion of the acquisition, the director owned 8,145 shares of the company’s stock, valued at $1,355,409.45. The trade was a 2.84% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Clive Bellows sold 2,800 shares of the business’s stock in a transaction on Friday, April 24th. The shares were sold at an average price of $165.02, for a total value of $462,056.00. Following the completion of the sale, the insider owned 28,217 shares in the company, valued at approximately $4,656,369.34. The trade was a 9.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 30,514 shares of company stock valued at $4,890,937. 0.66% of the stock is owned by insiders.

Northern Trust 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.