Hsbc Holdings PLC Sells 105,413 Shares of Northern Trust Corporation $NTRS

Hsbc Holdings PLC trimmed its position in shares of Northern Trust Corporation (NASDAQ:NTRS) by 15.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 569,812 shares of the asset manager’s stock after selling 105,413 shares during the quarter. Hsbc Holdings PLC owned approximately 0.31% of Northern Trust worth $78,040,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analyst Upgrades and Downgrades

NTRS has been the topic of several research reports. Royal Bank Of Canada upped their price target on shares of Northern Trust from $159.00 to $178.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. Zacks Research raised shares of Northern Trust from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. BMO Capital Markets upgraded shares of Northern Trust from a “market perform” rating to an “outperform” rating and set a $168.00 target price on the stock in a research report on Monday, April 6th. 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. Finally, Citigroup started coverage on shares of Northern Trust in a report on Monday, February 23rd. They issued a “neutral” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Northern Trust presently has a consensus rating of “Hold” and an average price target of $164.08.

Insiders Place Their Bets

In other Northern Trust news, insider Clive Bellows sold 2,800 shares of the company’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 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO David W. Fox, Jr. sold 19,987 shares of the stock in a transaction on 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 completion of the transaction, the chief financial officer directly owned 18,588 shares in the company, valued at approximately $3,088,582.08. This trade represents a 51.81% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders 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 stock opened at $175.56 on Tuesday. The firm has a market cap of $32.49 billion, a price-to-earnings ratio of 18.38, a PEG ratio of 1.23 and a beta of 1.25. Northern Trust Corporation has a 12 month low of $117.71 and a 12 month high of $176.99. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.51. The stock has a 50-day moving average price of $166.03 and a 200 day moving average price of $150.82.

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. Northern Trust had a net margin of 12.84% and a return on equity of 15.94%. The company had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the prior year, the company posted $1.90 EPS. The company’s revenue was up 13.8% compared to the same quarter last year. Research analysts expect that Northern Trust Corporation will post 10.68 EPS for the current year.

Northern Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders 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 1.8%. The ex-dividend date of this dividend is Friday, June 5th. Northern Trust’s payout ratio is currently 33.51%.

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.