Rockefeller Capital Management L.P. Sells 4,057 Shares of Northern Trust Corporation $NTRS

Rockefeller Capital Management L.P. lessened its stake in shares of Northern Trust Corporation (NASDAQ:NTRS) by 17.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,997 shares of the asset manager’s stock after selling 4,057 shares during the period. Rockefeller Capital Management L.P.’s holdings in Northern Trust were worth $2,595,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Corient Private Wealth LLC lifted its position in shares of Northern Trust by 3.9% during the 4th quarter. Corient Private Wealth LLC now owns 400,809 shares of the asset manager’s stock valued at $55,154,000 after acquiring an additional 15,221 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in shares of Northern Trust in the fourth quarter worth $59,000. Reflection Asset Management bought a new position in shares of Northern Trust in the fourth quarter worth $25,000. Kera Capital Partners Inc. raised its stake in Northern Trust by 76.1% in the fourth quarter. Kera Capital Partners Inc. now owns 4,293 shares of the asset manager’s stock valued at $642,000 after purchasing an additional 1,855 shares in the last quarter. Finally, MV Capital Management Inc. acquired a new position in Northern Trust in the fourth quarter valued at about $232,000. 83.19% of the stock is owned by institutional investors and hedge funds.

Northern Trust Stock Performance

NASDAQ:NTRS opened at $174.91 on Tuesday. The stock’s 50-day simple moving average is $168.03 and its 200 day simple moving average is $152.30. The firm has a market capitalization of $32.37 billion, a PE ratio of 18.32, a price-to-earnings-growth ratio of 1.24 and a beta of 1.25. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.51. Northern Trust Corporation has a twelve month low of $118.99 and a twelve month high of $178.70.

Northern Trust (NASDAQ:NTRS) last released its earnings results on Tuesday, April 21st. The asset manager reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.37 by $0.34. The firm had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.13 billion. Northern Trust had a return on equity of 15.94% and a net margin of 12.84%.The business’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.90 earnings per share. On average, analysts anticipate that Northern Trust Corporation will post 10.72 EPS for the current fiscal year.

Northern Trust Announces Dividend

The business 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. The ex-dividend date of this dividend is Friday, June 5th. This represents a $3.20 annualized dividend and a dividend yield of 1.8%. Northern Trust’s payout ratio is 33.51%.

Insider Activity at Northern Trust

In other Northern Trust news, insider Clive Bellows sold 2,800 shares of the firm’s stock in a transaction that occurred 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 sale, the insider owned 28,217 shares in the company, valued at $4,656,369.34. This trade represents a 9.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO David W. Fox, Jr. sold 19,987 shares of the business’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $166.16, for a total transaction of $3,321,039.92. Following the sale, the chief financial officer directly owned 18,588 shares in the company, valued at approximately $3,088,582.08. The trade was a 51.81% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 22,800 shares of company stock valued at $3,785,251. 0.66% of the stock is owned by insiders.

Analysts Set New Price Targets

NTRS has been the topic of a number of analyst reports. Royal Bank Of Canada increased their price objective on shares of Northern Trust from $159.00 to $178.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 22nd. Truist Financial boosted their target price on shares of Northern Trust from $176.00 to $186.00 and gave the company a “hold” rating in a research report on Friday. Morgan Stanley upped their price target on shares of Northern Trust from $157.00 to $170.00 and gave the stock an “underweight” rating in a report on Monday. JPMorgan Chase & Co. increased their price target on shares of Northern Trust from $153.50 to $170.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. Finally, Weiss Ratings raised shares of Northern Trust from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 4th. One 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. Based on data from MarketBeat.com, Northern Trust has an average rating of “Hold” and a consensus price target of $169.92.

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.