Prudential PLC Sells 13,775 Shares of Northern Trust Corporation $NTRS

Prudential PLC lowered its position in shares of Northern Trust Corporation (NASDAQ:NTRS) by 42.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 18,679 shares of the asset manager’s stock after selling 13,775 shares during the quarter. Prudential PLC’s holdings in Northern Trust were worth $2,551,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Northern Trust during the fourth quarter valued at about $257,410,000. Eurizon Capital SGR S.p.A. bought a new stake in shares of Northern Trust in the fourth quarter worth about $126,794,000. Jupiter Asset Management Ltd. increased its holdings in Northern Trust by 114.1% during the 4th quarter. Jupiter Asset Management Ltd. now owns 1,031,579 shares of the asset manager’s stock valued at $140,903,000 after purchasing an additional 549,681 shares during the period. PFA Pension Forsikringsaktieselskab purchased a new position in Northern Trust during the 4th quarter valued at about $67,126,000. Finally, AQR Capital Management LLC raised its position in Northern Trust by 67.1% during the 3rd quarter. AQR Capital Management LLC now owns 1,019,531 shares of the asset manager’s stock valued at $136,750,000 after purchasing an additional 409,434 shares during the last quarter. Institutional investors own 83.19% of the company’s stock.

Insider Buying and Selling at Northern Trust

In other news, insider Clive Bellows sold 2,800 shares of the business’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 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 filing with the SEC, which is accessible through the SEC website. Also, Director Robert Edward Jr. Moritz bought 225 shares of Northern Trust stock in a transaction dated Friday, May 1st. The stock was acquired at an average cost of $166.41 per share, for a total transaction of $37,442.25. Following the completion of the transaction, the director directly owned 8,145 shares in the company, valued at approximately $1,355,409.45. This trade represents a 2.84% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders sold 22,800 shares of company stock valued at $3,785,251. 0.66% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on NTRS. BMO Capital Markets upgraded Northern Trust from a “market perform” rating to an “outperform” rating and set a $168.00 price objective for the company in a report on Monday, April 6th. JPMorgan Chase & Co. upped their target price on Northern Trust from $153.50 to $170.00 and gave the company a “neutral” rating in a report on Monday, May 11th. Weiss Ratings raised Northern Trust from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 4th. Truist Financial lifted their price target on shares of Northern Trust from $155.00 to $176.00 and gave the company a “hold” rating in a report on Wednesday, April 22nd. Finally, Zacks Research raised shares of Northern Trust from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Northern Trust currently has a consensus rating of “Hold” and an average target price of $164.08.

Northern Trust Stock Performance

Northern Trust stock opened at $170.47 on Monday. The stock’s 50 day simple moving average is $159.53 and its two-hundred day simple moving average is $147.48. 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 $31.55 billion, a price-to-earnings ratio of 17.85, a PEG ratio of 1.22 and a beta of 1.25. Northern Trust Corporation has a fifty-two week low of $106.86 and a fifty-two week high of $173.66.

Northern Trust (NASDAQ:NTRS) last announced its earnings results on Tuesday, April 21st. The asset manager reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.37 by $0.34. The firm 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 business’s revenue was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.90 EPS. As a group, analysts expect that Northern Trust Corporation will post 10.68 earnings per share for the current fiscal year.

Northern Trust Announces Dividend

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 issued a $0.80 dividend. The ex-dividend date is Friday, June 5th. This represents a $3.20 dividend on an annualized basis and a yield of 1.9%. Northern Trust’s dividend payout ratio is 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.