KBC Group NV Sells 2,221 Shares of Northern Trust Co. (NASDAQ:NTRS)

KBC Group NV decreased its position in shares of Northern Trust Co. (NASDAQ:NTRSFree Report) by 6.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 30,593 shares of the asset manager’s stock after selling 2,221 shares during the period. KBC Group NV’s holdings in Northern Trust were worth $2,581,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. California State Teachers Retirement System raised its stake in Northern Trust by 2.4% during the 4th quarter. California State Teachers Retirement System now owns 327,252 shares of the asset manager’s stock worth $27,614,000 after acquiring an additional 7,698 shares during the period. Bank of Nova Scotia raised its position in shares of Northern Trust by 1,677.1% during the fourth quarter. Bank of Nova Scotia now owns 362,871 shares of the asset manager’s stock valued at $30,618,000 after buying an additional 342,452 shares during the last quarter. TFO Wealth Partners LLC raised its position in shares of Northern Trust by 30,762.5% during the fourth quarter. TFO Wealth Partners LLC now owns 2,469 shares of the asset manager’s stock valued at $208,000 after buying an additional 2,461 shares during the last quarter. Treasurer of the State of North Carolina raised its position in shares of Northern Trust by 6.5% during the fourth quarter. Treasurer of the State of North Carolina now owns 109,454 shares of the asset manager’s stock valued at $9,236,000 after buying an additional 6,669 shares during the last quarter. Finally, Stifel Financial Corp raised its position in shares of Northern Trust by 3.0% during the fourth quarter. Stifel Financial Corp now owns 98,659 shares of the asset manager’s stock valued at $8,325,000 after buying an additional 2,868 shares during the last quarter. Institutional investors own 83.19% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on NTRS. Jefferies Financial Group lifted their price objective on shares of Northern Trust from $101.00 to $103.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. Evercore ISI raised their target price on shares of Northern Trust from $86.00 to $87.00 and gave the company an “in-line” rating in a report on Thursday, April 4th. Finally, Bank of America raised their target price on shares of Northern Trust from $93.00 to $101.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $84.92.

Get Our Latest Report on Northern Trust

Insiders Place Their Bets

In other news, insider Peter Cherecwich sold 12,000 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $87.09, for a total transaction of $1,045,080.00. Following the completion of the sale, the insider now directly owns 31,471 shares of the company’s stock, valued at $2,740,809.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Peter Cherecwich sold 12,000 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $87.09, for a total transaction of $1,045,080.00. Following the completion of the sale, the insider now directly owns 31,471 shares of the company’s stock, valued at $2,740,809.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Steven L. Fradkin sold 4,097 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $82.56, for a total transaction of $338,248.32. Following the sale, the insider now directly owns 46,078 shares of the company’s stock, valued at $3,804,199.68. The disclosure for this sale can be found here. 0.64% of the stock is owned by insiders.

Northern Trust Stock Up 0.3 %

NASDAQ NTRS opened at $82.29 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.61. The company has a fifty day moving average of $84.36 and a two-hundred day moving average of $82.74. The firm has a market capitalization of $16.84 billion, a price-to-earnings ratio of 18.17, a PEG ratio of 1.18 and a beta of 1.10. Northern Trust Co. has a 52 week low of $62.44 and a 52 week high of $89.25.

Northern Trust (NASDAQ:NTRSGet Free Report) last posted its quarterly earnings data on Tuesday, April 16th. The asset manager reported $1.70 EPS for the quarter, topping the consensus estimate of $1.47 by $0.23. The company had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.79 billion. Northern Trust had a net margin of 7.59% and a return on equity of 12.57%. On average, analysts predict that Northern Trust Co. will post 6.85 earnings per share for the current year.

Northern Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 3.65%. The ex-dividend date of this dividend is Friday, June 7th. Northern Trust’s payout ratio is 66.23%.

About Northern Trust

(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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