Northern Trust Corporation $NTRS Holdings Trimmed by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. reduced its position in shares of Northern Trust Corporation (NASDAQ:NTRS) by 8.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 399,851 shares of the asset manager’s stock after selling 35,976 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.22% of Northern Trust worth $55,807,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of NTRS. Norges Bank acquired a new stake in shares of Northern Trust in the fourth quarter worth $257,410,000. Eurizon Capital SGR S.p.A. acquired a new position in Northern Trust during the fourth quarter valued at $126,794,000. AQR Capital Management LLC lifted its stake in Northern Trust by 69.0% in the 4th quarter. AQR Capital Management LLC now owns 1,723,516 shares of the asset manager’s stock worth $235,415,000 after acquiring an additional 703,985 shares in the last quarter. Jupiter Asset Management Ltd. lifted its stake in Northern Trust by 114.1% in the 4th quarter. Jupiter Asset Management Ltd. now owns 1,031,579 shares of the asset manager’s stock worth $140,903,000 after acquiring an additional 549,681 shares in the last quarter. Finally, PFA Pension Forsikringsaktieselskab acquired a new stake in Northern Trust during the 4th quarter worth about $67,126,000. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Northern Trust Stock Up 0.4%

NTRS stock traded up $0.69 during mid-day trading on Friday, hitting $183.55. The stock had a trading volume of 805,612 shares, compared to its average volume of 916,431. 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 Corporation has a 1-year low of $118.99 and a 1-year high of $185.57. The company has a fifty day moving average of $170.53 and a 200 day moving average of $154.74. The stock has a market capitalization of $33.97 billion, a price-to-earnings ratio of 19.22, a PEG ratio of 1.17 and a beta of 1.25.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings results on Tuesday, April 21st. The asset manager reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.37 by $0.34. The business had revenue of $2.21 billion during 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%.The firm’s revenue was up 13.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.90 EPS. On average, equities analysts expect that Northern Trust Corporation will post 11.29 EPS for the current fiscal year.

Northern Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Friday, June 5th were given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Friday, June 5th. Northern Trust’s dividend payout ratio (DPR) is presently 33.51%.

Wall Street Analysts Forecast Growth

NTRS has been the topic of several research analyst reports. UBS Group set a $186.00 target price on Northern Trust in a research note on Friday, June 26th. Bank of America raised their price target on shares of Northern Trust from $190.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. Keefe, Bruyette & Woods boosted their price objective on shares of Northern Trust from $157.00 to $175.00 and gave the company an “underperform” rating in a research report on Thursday. Barclays upped their price objective on shares of Northern Trust from $160.00 to $176.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 22nd. Finally, BMO Capital Markets upgraded shares of Northern Trust from a “market perform” rating to an “outperform” rating and set a $168.00 target price for the company in a research report on Monday, April 6th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Northern Trust presently has a consensus rating of “Hold” and a consensus price target of $178.75.

Insider Buying and Selling at Northern Trust

In other news, insider Clive Bellows sold 2,800 shares of the firm’s stock in a transaction on Friday, April 24th. The shares were sold at an average price of $165.02, for a total transaction of $462,056.00. Following the transaction, the insider owned 28,217 shares in the company, valued at approximately $4,656,369.34. This trade represents a 9.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO David W. Fox, Jr. sold 19,987 shares of Northern Trust stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $166.16, for a total transaction of $3,321,039.92. Following the completion of the sale, the chief financial officer directly 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 position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 22,800 shares of company stock worth $3,785,251 over the last ninety days. 0.66% of the stock is currently owned by insiders.

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.