Pacer Advisors Inc. Cuts Stock Holdings in Northern Trust Co. (NASDAQ:NTRS)

Pacer Advisors Inc. trimmed its holdings in shares of Northern Trust Co. (NASDAQ:NTRSFree Report) by 84.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,844 shares of the asset manager’s stock after selling 74,070 shares during the period. Pacer Advisors Inc.’s holdings in Northern Trust were worth $1,168,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Atria Wealth Solutions Inc. boosted its position in Northern Trust by 3.7% during the fourth quarter. Atria Wealth Solutions Inc. now owns 3,425 shares of the asset manager’s stock valued at $306,000 after buying an additional 123 shares during the period. Port Capital LLC boosted its position in Northern Trust by 2.3% during the second quarter. Port Capital LLC now owns 6,020 shares of the asset manager’s stock valued at $446,000 after buying an additional 133 shares during the period. Mercer Global Advisors Inc. ADV boosted its position in Northern Trust by 2.5% during the second quarter. Mercer Global Advisors Inc. ADV now owns 5,768 shares of the asset manager’s stock valued at $428,000 after buying an additional 140 shares during the period. Vontobel Holding Ltd. boosted its holdings in shares of Northern Trust by 2.4% during the first quarter. Vontobel Holding Ltd. now owns 5,921 shares of the asset manager’s stock worth $715,000 after purchasing an additional 140 shares during the period. Finally, Diversified Trust Co grew its stake in shares of Northern Trust by 1.9% in the fourth quarter. Diversified Trust Co now owns 8,531 shares of the asset manager’s stock worth $720,000 after purchasing an additional 156 shares during the last quarter. 83.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Steven L. Fradkin sold 30,392 shares of Northern Trust stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $80.11, for a total transaction of $2,434,703.12. Following the completion of the transaction, the insider now directly owns 55,707 shares in the company, valued at $4,462,687.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.64% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. UBS Group raised their target price on Northern Trust from $72.00 to $84.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 9th. Morgan Stanley reissued an “underweight” rating and issued a $86.00 target price (up from $82.00) on shares of Northern Trust in a research note on Tuesday, January 30th. Barclays raised their target price on Northern Trust from $90.00 to $98.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 2nd. Royal Bank of Canada raised their target price on Northern Trust from $82.00 to $86.00 and gave the stock an “outperform” rating in a research note on Friday, January 19th. Finally, Jefferies Financial Group raised Northern Trust from a “hold” rating to a “buy” rating and raised their target price for the stock from $68.00 to $99.00 in a research note on Tuesday, January 9th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $83.04.

Check Out Our Latest Analysis on NTRS

Northern Trust Price Performance

NTRS stock opened at $88.44 on Tuesday. The firm has a 50 day moving average price of $81.81 and a 200-day moving average price of $77.48. Northern Trust Co. has a 52-week low of $62.44 and a 52-week high of $90.59. The firm has a market capitalization of $18.04 billion, a price-to-earnings ratio of 17.41, a PEG ratio of 1.94 and a beta of 1.13. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.71 and a current ratio of 0.71.

Northern Trust (NASDAQ:NTRSGet Free Report) last released its earnings results on Thursday, January 18th. The asset manager reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.81). Northern Trust had a net margin of 9.14% and a return on equity of 12.44%. The business had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the previous year, the business posted $1.65 earnings per share. Northern Trust’s revenue for the quarter was up 1.9% on a year-over-year basis. Equities research analysts forecast that Northern Trust Co. will post 6.32 EPS for the current fiscal year.

Northern Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 8th were issued a dividend of $0.75 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $3.00 annualized dividend and a dividend yield of 3.39%. Northern Trust’s payout ratio is 59.06%.

Northern Trust Company Profile

(Free Report)

Northern Trust Corporation, a financial holding company, provides wealth management, asset servicing, asset management, and banking solutions for corporations, institutions, families, and individuals worldwide. It operates in two segments, Asset Servicing and Wealth Management. The Asset Servicing segment offers asset servicing and related services, including custody, fund administration, investment operations outsourcing, investment management, investment risk and analytical services, employee benefit services, securities lending, foreign exchange, treasury management, brokerage services, transition management services, banking, and cash management services.

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Institutional Ownership by Quarter for Northern Trust (NASDAQ:NTRS)

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