NFJ Investment Group LLC Sells 3,584 Shares of Northern Trust Corporation $NTRS

NFJ Investment Group LLC lowered its position in Northern Trust Corporation (NASDAQ:NTRS) by 8.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 40,009 shares of the asset manager’s stock after selling 3,584 shares during the quarter. NFJ Investment Group LLC’s holdings in Northern Trust were worth $5,465,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Triumph Capital Management bought a new position in Northern Trust in the third quarter valued at $25,000. Board of the Pension Protection Fund bought a new position in Northern Trust in the fourth quarter valued at $27,000. Elyxium Wealth LLC bought a new position in Northern Trust in the fourth quarter valued at $34,000. International Assets Investment Management LLC bought a new position in Northern Trust in the fourth quarter valued at $35,000. Finally, Transamerica Financial Advisors LLC increased its stake in Northern Trust by 54.1% in the fourth quarter. Transamerica Financial Advisors LLC now owns 265 shares of the asset manager’s stock valued at $36,000 after acquiring an additional 93 shares during the last quarter. Institutional investors own 83.19% of the company’s stock.

Northern Trust Trading Up 2.1%

NASDAQ NTRS opened at $174.34 on Friday. The stock has a 50 day simple moving average of $162.74 and a two-hundred day simple moving average of $148.87. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.62 and a current ratio of 0.62. The stock has a market cap of $32.26 billion, a P/E ratio of 18.26, a price-to-earnings-growth ratio of 1.25 and a beta of 1.25. Northern Trust Corporation has a fifty-two week low of $107.08 and a fifty-two week high of $175.11.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings data on Tuesday, April 21st. The asset manager reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.37 by $0.34. The business 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 was up 13.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.90 EPS. On average, analysts forecast that Northern Trust Corporation will post 10.68 earnings per share for the current year.

Northern Trust Dividend Announcement

The company also recently disclosed 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 1.8%. The ex-dividend date of this dividend is Friday, June 5th. Northern Trust’s payout ratio is presently 33.51%.

Wall Street Analyst Weigh In

NTRS has been the topic of a number of research analyst reports. The Goldman Sachs Group increased their target price on Northern Trust from $151.00 to $169.00 and gave the company a “neutral” rating in a research note on Wednesday, April 22nd. Citigroup initiated coverage on Northern Trust in a research note on Monday, February 23rd. They issued a “neutral” rating on the stock. Royal Bank Of Canada increased their target price on Northern Trust from $159.00 to $178.00 and gave the company an “outperform” rating in a research note on Wednesday, April 22nd. Wells Fargo & Company increased their target price on Northern Trust from $150.00 to $175.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 22nd. Finally, JPMorgan Chase & Co. increased their target price on Northern Trust from $153.50 to $170.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Northern Trust currently has a consensus rating of “Hold” and a consensus target price of $164.08.

Insider Buying and Selling at Northern Trust

In other Northern Trust news, insider Clive Bellows sold 2,800 shares of Northern Trust stock in a transaction that occurred on 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. The trade was a 9.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO David W. Fox, Jr. sold 19,987 shares of Northern Trust stock in a transaction that occurred 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 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 ownership of the stock. 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 currently owned by corporate insiders.

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.