Northern Trust Corporation (NASDAQ:NTRS) Stock Position Decreased by Farther Finance Advisors LLC

Farther Finance Advisors LLC cut its position in shares of Northern Trust Corporation (NASDAQ:NTRS) by 22.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,308 shares of the asset manager’s stock after selling 675 shares during the period. Farther Finance Advisors LLC’s holdings in Northern Trust were worth $226,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA raised its stake in shares of Northern Trust by 1.2% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,486,616 shares of the asset manager’s stock valued at $767,378,000 after acquiring an additional 92,162 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Northern Trust by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 4,904,871 shares of the asset manager’s stock valued at $501,444,000 after acquiring an additional 30,908 shares in the last quarter. Invesco Ltd. raised its stake in shares of Northern Trust by 7.5% in the 4th quarter. Invesco Ltd. now owns 2,885,312 shares of the asset manager’s stock valued at $295,744,000 after acquiring an additional 202,327 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Northern Trust by 1.6% in the 4th quarter. Wellington Management Group LLP now owns 2,532,401 shares of the asset manager’s stock valued at $259,571,000 after acquiring an additional 39,592 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Northern Trust by 2.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,201,309 shares of the asset manager’s stock valued at $225,641,000 after acquiring an additional 62,605 shares in the last quarter. 83.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on NTRS. Evercore ISI dropped their price target on Northern Trust from $104.00 to $100.00 and set an “in-line” rating on the stock in a research report on Wednesday, April 23rd. Wells Fargo & Company cut their price target on Northern Trust from $118.00 to $111.00 and set an “equal weight” rating for the company in a report on Wednesday, April 23rd. Morgan Stanley reiterated an “underweight” rating and set a $103.00 price target (up from $101.00) on shares of Northern Trust in a report on Tuesday, June 3rd. Royal Bank Of Canada cut their price target on Northern Trust from $115.00 to $105.00 and set an “outperform” rating for the company in a report on Wednesday, April 23rd. Finally, Truist Financial cut their price target 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 equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $108.42.

Insider Activity

In related news, EVP Clive Bellows sold 3,300 shares of the firm’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 transaction, the executive vice president now owns 28,736 shares in the company, valued at $2,872,163.20. This trade represents a 10.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Teresa Parker sold 6,467 shares of the firm’s stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $100.62, for a total value of $650,709.54. Following the completion of the transaction, the insider now owns 79,391 shares in the company, valued at approximately $7,988,322.42. This represents a 7.53% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,772 shares of company stock worth $981,069. 0.77% of the stock is owned by corporate insiders.

Northern Trust Stock Performance

Northern Trust stock opened at $110.98 on Thursday. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.71 and a quick ratio of 0.71. The stock has a fifty day moving average price of $100.95 and a two-hundred day moving average price of $103.23. Northern Trust Corporation has a 52-week low of $80.81 and a 52-week high of $114.67. The firm has a market capitalization of $21.59 billion, a P/E ratio of 10.35, a P/E/G ratio of 1.66 and a beta of 1.22.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings data on Tuesday, April 22nd. The asset manager reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.05. Northern Trust had a return on equity of 13.73% and a net margin of 13.93%. The firm had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.95 billion. As a group, analysts anticipate that Northern Trust Corporation will post 8.27 EPS for the current fiscal year.

Northern Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 6th will be paid a $0.75 dividend. The ex-dividend date is Friday, June 6th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.70%. 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.