Northern Trust Corporation $NTRS Shares Sold by Financiere des Professionnels Fonds d investissement inc.

by · The Cerbat Gem

Financiere des Professionnels Fonds d investissement inc. reduced its position in shares of Northern Trust Corporation (NASDAQ:NTRSFree Report) by 26.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,706 shares of the asset manager’s stock after selling 21,374 shares during the period. Financiere des Professionnels Fonds d investissement inc.’s holdings in Northern Trust were worth $8,036,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Northern Trust in the second quarter worth about $276,087,000. Primecap Management Co. CA raised its position in shares of Northern Trust by 19.5% in the 2nd quarter. Primecap Management Co. CA now owns 7,793,757 shares of the asset manager’s stock valued at $988,170,000 after purchasing an additional 1,270,748 shares in the last quarter. Marshall Wace LLP boosted its stake in shares of Northern Trust by 2,397.3% during the 2nd quarter. Marshall Wace LLP now owns 657,026 shares of the asset manager’s stock valued at $83,304,000 after buying an additional 630,717 shares during the last quarter. Rokos Capital Management LLP acquired a new stake in shares of Northern Trust during the second quarter worth approximately $73,888,000. Finally, LSV Asset Management increased its stake in shares of Northern Trust by 154.0% in the second quarter. LSV Asset Management now owns 805,990 shares of the asset manager’s stock worth $102,191,000 after buying an additional 488,690 shares during the last quarter. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Insider Activity

In other Northern Trust news, Director Robert Edward Jr. Moritz bought 3,891 shares of the stock in a transaction that occurred on Tuesday, November 4th. The shares were purchased at an average cost of $128.57 per share, for a total transaction of $500,265.87. Following the transaction, the director directly owned 6,686 shares in the company, valued at $859,619.02. The trade was a 139.21% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Susan Cohen Levy sold 27,591 shares of the stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $128.13, for a total value of $3,535,234.83. Following the completion of the transaction, the executive vice president directly owned 48,257 shares of the company’s stock, valued at approximately $6,183,169.41. The trade was a 36.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of Northern Trust in a report on Wednesday, October 8th. Evercore ISI lifted their price target on Northern Trust from $125.00 to $135.00 and gave the stock an “in-line” rating in a research note on Tuesday, September 30th. Morgan Stanley upped their price objective on Northern Trust from $127.00 to $131.00 and gave the company an “underweight” rating in a research note on Wednesday, December 17th. Truist Financial decreased their target price on Northern Trust from $142.00 to $139.00 and set a “hold” rating for the company in a research report on Thursday, October 23rd. Finally, Keefe, Bruyette & Woods upped their price target on Northern Trust from $123.00 to $125.00 and gave the company an “underperform” rating in a research report on Thursday, October 23rd. Five equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Northern Trust currently has a consensus rating of “Hold” and a consensus price target of $133.08.

Read Our Latest Stock Analysis on NTRS

Northern Trust Trading Up 2.0%

Shares of NASDAQ NTRS opened at $139.28 on Friday. The company has a market cap of $26.34 billion, a price-to-earnings ratio of 16.23, a price-to-earnings-growth ratio of 1.35 and a beta of 1.27. The stock’s 50 day simple moving average is $132.70 and its 200 day simple moving average is $129.38. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.58. Northern Trust Corporation has a 12-month low of $81.62 and a 12-month high of $141.25.

Northern Trust (NASDAQ:NTRSGet Free Report) last posted its earnings results on Wednesday, October 22nd. The asset manager reported $2.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.03. The company had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $2.02 billion. Northern Trust had a return on equity of 14.37% and a net margin of 11.99%.The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period last year, the business posted $2.22 earnings per share. Equities research analysts expect that Northern Trust Corporation will post 8.27 EPS for the current year.

Northern Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 1st. Shareholders of record on Friday, December 5th were paid a $0.80 dividend. The ex-dividend date was Friday, December 5th. This represents a $3.20 annualized dividend and a dividend yield of 2.3%. Northern Trust’s dividend payout ratio (DPR) is presently 37.30%.

Northern Trust Company Profile

(Free Report)

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.

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