Fifth Third Bancorp Raises Position in Northern Trust Co. (NASDAQ:NTRS)

Fifth Third Bancorp raised its position in Northern Trust Co. (NASDAQ:NTRS) by 1.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,876 shares of the asset manager’s stock after buying an additional 179 shares during the period. Fifth Third Bancorp’s holdings in Northern Trust were worth $1,073,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Colonial Trust Co SC boosted its stake in shares of Northern Trust by 6,400.0% in the fourth quarter. Colonial Trust Co SC now owns 260 shares of the asset manager’s stock worth $27,000 after acquiring an additional 256 shares during the last quarter. Assetmark Inc. lifted its holdings in Northern Trust by 528.3% in the 4th quarter. Assetmark Inc. now owns 377 shares of the asset manager’s stock valued at $39,000 after purchasing an additional 317 shares in the last quarter. Coppell Advisory Solutions LLC acquired a new stake in Northern Trust during the 4th quarter worth $44,000. True Wealth Design LLC grew its holdings in shares of Northern Trust by 84.0% during the fourth quarter. True Wealth Design LLC now owns 425 shares of the asset manager’s stock worth $44,000 after buying an additional 194 shares in the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in shares of Northern Trust in the fourth quarter valued at about $51,000. 83.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NTRS. Citigroup decreased their price target on shares of Northern Trust from $110.00 to $105.00 and set a “neutral” rating on the stock in a research note on Monday, March 24th. Wells Fargo & Company decreased their target price on shares of Northern Trust from $118.00 to $111.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 23rd. Evercore ISI dropped their price target on Northern Trust from $104.00 to $100.00 and set an “in-line” rating for the company in a research report on Wednesday, April 23rd. Morgan Stanley reiterated an “underweight” rating and set a $103.00 price objective (up previously from $101.00) on shares of Northern Trust in a research report on Tuesday, June 3rd. Finally, Truist Financial dropped their target price on Northern Trust from $98.00 to $92.00 and set a “hold” rating for the company in a report on Wednesday, April 23rd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Northern Trust presently has a consensus rating of “Hold” and an average price target of $108.42.

Insider Buying and Selling at Northern Trust

In other news, insider Teresa Parker sold 6,467 shares of the company’s stock in a transaction on Friday, May 9th. The stock was sold at an average price of $100.62, for a total transaction of $650,709.54. Following the sale, the insider now owns 79,391 shares of the company’s stock, valued at approximately $7,988,322.42. This represents a 7.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Clive Bellows sold 3,300 shares of the company’s stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $99.95, for a total value of $329,835.00. Following the sale, the executive vice president now owns 28,736 shares in the company, valued at approximately $2,872,163.20. This trade represents a 10.30% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,772 shares of company stock worth $981,069 over the last three months. Insiders own 0.77% of the company’s stock.

Northern Trust Trading Up 2.9%

Shares of Northern Trust stock opened at $110.91 on Tuesday. The stock has a 50 day moving average of $100.27 and a 200 day moving average of $103.13. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.68. The firm has a market capitalization of $21.58 billion, a price-to-earnings ratio of 11.34, a PEG ratio of 1.72 and a beta of 1.22. Northern Trust Co. has a fifty-two week low of $80.45 and a fifty-two week high of $114.67.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings results on Tuesday, April 22nd. The asset manager reported $1.90 EPS for the quarter, beating the consensus estimate of $1.85 by $0.05. The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.95 billion. Northern Trust had a return on equity of 13.74% and a net margin of 12.77%. As a group, research analysts predict that Northern Trust Co. will post 8.27 earnings per share for the current year.

Northern Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 6th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.70%. The ex-dividend date is Friday, June 6th. Northern Trust’s dividend payout ratio (DPR) is presently 27.99%.

About Northern Trust

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.