Northern Trust Co. (NASDAQ:NTRS) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. trimmed its holdings in shares of Northern Trust Co. (NASDAQ:NTRS) by 31.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 61,596 shares of the asset manager’s stock after selling 28,243 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Northern Trust were worth $5,197,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fortitude Family Office LLC acquired a new stake in shares of Northern Trust during the 4th quarter worth about $28,000. Allworth Financial LP increased its position in shares of Northern Trust by 94.1% during the 4th quarter. Allworth Financial LP now owns 359 shares of the asset manager’s stock worth $30,000 after purchasing an additional 174 shares during the last quarter. Quent Capital LLC increased its position in shares of Northern Trust by 77.8% during the 4th quarter. Quent Capital LLC now owns 361 shares of the asset manager’s stock worth $30,000 after purchasing an additional 158 shares during the last quarter. Belpointe Asset Management LLC increased its position in shares of Northern Trust by 84.5% during the 1st quarter. Belpointe Asset Management LLC now owns 393 shares of the asset manager’s stock worth $35,000 after purchasing an additional 180 shares during the last quarter. Finally, Clear Street Markets LLC increased its position in shares of Northern Trust by 93.4% during the 1st quarter. Clear Street Markets LLC now owns 408 shares of the asset manager’s stock worth $36,000 after purchasing an additional 197 shares during the last quarter. 83.19% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Wolfe Research downgraded Northern Trust from a “peer perform” rating to an “underperform” rating and set a $85.00 target price for the company. in a research report on Wednesday, January 3rd. Barclays lifted their target price on Northern Trust from $90.00 to $98.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 2nd. TheStreet raised Northern Trust from a “c+” rating to a “b-” rating in a research report on Friday, January 12th. Evercore ISI lifted their target price on Northern Trust from $86.00 to $87.00 and gave the company an “in-line” rating in a research report on Thursday, April 4th. Finally, Royal Bank of Canada lifted their target price on Northern Trust from $82.00 to $86.00 and gave the company an “outperform” rating in a research report on Friday, January 19th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $83.09.

Insider Activity

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

Northern Trust Stock Performance

Shares of Northern Trust stock opened at $83.71 on Tuesday. Northern Trust Co. has a one year low of $62.44 and a one year high of $89.25. The company has a market cap of $17.08 billion, a PE ratio of 16.48, a P/E/G ratio of 1.73 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. The business has a 50-day simple moving average of $83.10 and a 200-day simple moving average of $78.73.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings results on Thursday, January 18th. The asset manager reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.81). The business had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.71 billion. Northern Trust had a net margin of 9.14% and a return on equity of 12.44%. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period last year, the company earned $1.65 earnings per share. On average, equities research analysts forecast that Northern Trust Co. will post 6.57 EPS for the current fiscal year.

Northern Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 8th were issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 3.58%. The ex-dividend date was Thursday, March 7th. Northern Trust’s payout ratio is currently 59.06%.

Northern Trust Company Profile

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.