Savant Capital LLC Reduces Position in Northern Trust Corporation $NTRS

by · The Markets Daily

Savant Capital LLC decreased its position in shares of Northern Trust Corporation (NASDAQ:NTRS – Free Report) by 80.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 9,613 shares of the asset manager’s stock after selling 38,808 shares during the period. Savant Capital LLC’s holdings in Northern Trust were worth $1,313,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. CWM LLC lifted its stake in shares of Northern Trust by 122.6% during the 4th quarter. CWM LLC now owns 48,284 shares of the asset manager’s stock valued at $6,595,000 after buying an additional 26,594 shares in the last quarter. iSAM Funds UK Ltd purchased a new position in shares of Northern Trust during the 3rd quarter valued at $2,253,000. Cinctive Capital Management LP lifted its stake in shares of Northern Trust by 113.7% during the 3rd quarter. Cinctive Capital Management LP now owns 28,939 shares of the asset manager’s stock valued at $3,895,000 after buying an additional 15,398 shares in the last quarter. Barclays PLC lifted its stake in shares of Northern Trust by 62.4% during the 3rd quarter. Barclays PLC now owns 1,042,084 shares of the asset manager’s stock valued at $140,265,000 after buying an additional 400,247 shares in the last quarter. Finally, Swiss Life Asset Management Ltd lifted its stake in shares of Northern Trust by 119.9% during the 3rd quarter. Swiss Life Asset Management Ltd now owns 83,175 shares of the asset manager’s stock valued at $11,195,000 after buying an additional 45,356 shares in the last quarter. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on NTRS shares. Truist Financial lifted their target price on shares of Northern Trust from $155.00 to $176.00 and gave the company a “hold” rating in a research note on Wednesday, April 22nd. Royal Bank Of Canada lifted their target price on shares of Northern Trust from $159.00 to $178.00 and gave the company an “outperform” rating in a research note on Wednesday, April 22nd. Barclays lifted their target price 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. Weiss Ratings upgraded shares of Northern Trust from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 4th. Finally, The Goldman Sachs Group lifted their price target on shares of Northern Trust from $151.00 to $169.00 and gave the company a “neutral” rating in a report on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $164.08.

Read Our Latest Analysis on NTRS

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 dated Friday, April 24th. The shares were sold at an average price of $165.02, for a total value of $462,056.00. Following the sale, the insider directly owned 28,217 shares in the company, valued at $4,656,369.34. The trade was a 9.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Guy Gibson sold 3,009 shares of the business’s stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $142.39, for a total transaction of $428,451.51. Following the completion of the sale, the insider owned 29,332 shares in the company, valued at approximately $4,176,583.48. This trade represents a 9.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 29,064 shares of company stock valued at $4,682,064. Corporate insiders own 0.66% of the company’s stock.

Northern Trust Stock Performance

Northern Trust stock opened at $168.34 on Tuesday. The company’s 50-day moving average price is $156.95 and its 200-day moving average price is $146.28. Northern Trust Corporation has a twelve month low of $104.99 and a twelve month high of $173.18. 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 company has a market cap of $31.15 billion, a PE ratio of 17.63, a price-to-earnings-growth ratio of 1.18 and a beta of 1.25.

Northern Trust (NASDAQ:NTRS – Get Free Report) last posted its earnings results on Tuesday, April 21st. The asset manager reported $2.71 earnings per share for the quarter, topping 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 firm had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the previous year, the firm posted $1.90 EPS. The business’s quarterly revenue was up 13.8% on a year-over-year basis. On average, equities research analysts forecast that Northern Trust Corporation will post 10.68 EPS for the current fiscal year.

Northern Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders 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 dividend yield of 1.9%. Northern Trust’s payout ratio is 33.51%.

Northern Trust 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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