Nuance Investments LLC Decreases Position in Northern Trust Corporation $NTRS

Nuance Investments LLC lessened its holdings in shares of Northern Trust Corporation (NASDAQ:NTRS) by 67.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 46,300 shares of the asset manager’s stock after selling 94,223 shares during the quarter. Nuance Investments LLC’s holdings in Northern Trust were worth $6,324,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Triumph Capital Management purchased a new stake in shares of Northern Trust during the 3rd quarter valued at $25,000. Board of the Pension Protection Fund acquired a new position in shares of Northern Trust in the 4th quarter valued at $27,000. Elyxium Wealth LLC acquired a new position in shares of Northern Trust in the 4th quarter valued at $34,000. International Assets Investment Management LLC acquired a new position in shares of Northern Trust in the 4th quarter valued at $35,000. Finally, Olistico Wealth LLC acquired a new position in shares of Northern Trust in the 4th quarter valued at $41,000. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Insiders Place Their Bets

In other Northern Trust news, insider Clive Bellows sold 2,800 shares of the stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $165.02, for a total transaction of $462,056.00. Following the sale, the insider directly owned 28,217 shares of the company’s stock, valued at approximately $4,656,369.34. This trade represents a 9.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO David W. Fox, Jr. sold 19,987 shares of the firm’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $166.16, for a total value of $3,321,039.92. Following the sale, the chief financial officer owned 18,588 shares in the company, valued at $3,088,582.08. This trade represents a 51.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 22,800 shares of company stock valued at $3,785,251. Company insiders own 0.66% of the company’s stock.

Northern Trust Price Performance

Shares of NTRS opened at $170.47 on Friday. The business’s 50-day moving average is $159.53 and its two-hundred day moving average is $147.30. The company has a market capitalization of $31.55 billion, a P/E ratio of 17.85, a P/E/G ratio of 1.24 and a beta of 1.25. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.62 and a current ratio of 0.62. Northern Trust Corporation has a fifty-two week low of $106.86 and a fifty-two week high of $173.66.

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

Northern Trust Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on NTRS shares. Royal Bank Of Canada upped their target price on Northern Trust from $159.00 to $178.00 and gave the company an “outperform” rating in a research report on Wednesday, April 22nd. Barclays upped 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. upped 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. Truist Financial upped their target price on Northern Trust from $155.00 to $176.00 and gave the company a “hold” rating in a research report on Wednesday, April 22nd. Finally, Zacks Research raised Northern Trust from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Northern Trust has a consensus rating of “Hold” and a consensus target price of $164.08.

Northern Trust Company 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.