TD Asset Management Inc Has $9.38 Million Stake in Northern Trust Corporation $NTRS

TD Asset Management Inc decreased its stake in Northern Trust Corporation (NASDAQ:NTRS) by 4.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 68,702 shares of the asset manager’s stock after selling 3,382 shares during the period. TD Asset Management Inc’s holdings in Northern Trust were worth $9,384,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. CWM LLC lifted its stake in Northern Trust by 122.6% in the fourth quarter. CWM LLC now owns 48,284 shares of the asset manager’s stock valued at $6,595,000 after buying an additional 26,594 shares during the period. iSAM Funds UK Ltd acquired a new position in Northern Trust in the third quarter valued at about $2,253,000. Cinctive Capital Management LP lifted its stake in Northern Trust by 113.7% in the third quarter. Cinctive Capital Management LP now owns 28,939 shares of the asset manager’s stock valued at $3,895,000 after buying an additional 15,398 shares during the period. Swiss Life Asset Management Ltd lifted its stake in Northern Trust by 119.9% in the third quarter. Swiss Life Asset Management Ltd now owns 83,175 shares of the asset manager’s stock valued at $11,195,000 after buying an additional 45,356 shares during the period. Finally, Barclays PLC lifted its stake in Northern Trust by 62.4% in the third quarter. Barclays PLC now owns 1,042,084 shares of the asset manager’s stock valued at $140,265,000 after buying an additional 400,247 shares during the period. Institutional investors and hedge funds own 83.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on NTRS shares. Weiss Ratings raised Northern Trust from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 4th. The Goldman Sachs Group raised their price target on Northern Trust from $151.00 to $169.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 22nd. Citigroup initiated coverage on Northern Trust in a research report on Monday, February 23rd. They set a “neutral” rating on the stock. BMO Capital Markets raised Northern Trust from a “market perform” rating to an “outperform” rating and set a $168.00 price target on the stock in a research report on Monday, April 6th. Finally, Barclays raised their price target on Northern Trust from $160.00 to $176.00 and gave the stock 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 assigned a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $164.08.

Insider Buying and Selling

In related 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 completion of the transaction, the insider directly owned 28,217 shares in the company, valued at approximately $4,656,369.34. This trade represents a 9.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO David W. Fox, Jr. sold 19,987 shares of the stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $166.16, for a total value of $3,321,039.92. Following the transaction, the chief financial officer owned 18,588 shares of the company’s stock, valued at approximately $3,088,582.08. The trade was a 51.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 22,800 shares of company stock worth $3,785,251. 0.66% of the stock is owned by corporate insiders.

Northern Trust Trading Up 0.9%

NASDAQ NTRS opened at $170.60 on Wednesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.62 and a quick ratio of 0.62. The firm has a market cap of $31.57 billion, a P/E ratio of 17.86, a P/E/G ratio of 1.21 and a beta of 1.25. Northern Trust Corporation has a one year low of $107.08 and a one year high of $173.66. The stock’s 50-day moving average is $160.86 and its 200-day moving average is $148.10.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings data on Tuesday, April 21st. The asset manager reported $2.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.37 by $0.34. The business had revenue of $2.21 billion during 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%.Northern Trust’s quarterly revenue was up 13.8% on a year-over-year basis. During the same period last year, the company earned $1.90 earnings per share. Sell-side analysts anticipate that Northern Trust Corporation will post 10.68 earnings per share for the current fiscal year.

Northern Trust Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Friday, June 5th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.9%. Northern Trust’s dividend payout ratio (DPR) is presently 33.51%.

About Northern Trust

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.