Great Lakes Advisors LLC Sells 3,552 Shares of Northern Trust Corporation $NTRS

Great Lakes Advisors LLC trimmed its position in Northern Trust Corporation (NASDAQ:NTRS) by 10.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,936 shares of the asset manager’s stock after selling 3,552 shares during the period. Great Lakes Advisors LLC’s holdings in Northern Trust were worth $4,299,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. lifted its stake in Northern Trust by 10.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,806 shares of the asset manager’s stock valued at $3,877,000 after acquiring an additional 2,609 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Northern Trust by 2.1% in the third quarter. Bank of New York Mellon Corp now owns 1,947,456 shares of the asset manager’s stock valued at $262,128,000 after purchasing an additional 40,048 shares during the last quarter. Ballentine Partners LLC lifted its position in shares of Northern Trust by 22.3% in the third quarter. Ballentine Partners LLC now owns 3,931 shares of the asset manager’s stock worth $529,000 after purchasing an additional 718 shares in the last quarter. Federated Hermes Inc. boosted its holdings in Northern Trust by 7.0% during the third quarter. Federated Hermes Inc. now owns 524,394 shares of the asset manager’s stock worth $70,583,000 after purchasing an additional 34,405 shares during the last quarter. Finally, Hussman Strategic Advisors Inc. grew its position in Northern Trust by 66.7% in the third quarter. Hussman Strategic Advisors Inc. now owns 10,500 shares of the asset manager’s stock valued at $1,413,000 after purchasing an additional 4,200 shares in the last quarter. 83.19% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Northern Trust

In related news, COO Peter Cherecwich sold 25,000 shares of Northern Trust stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $149.62, for a total transaction of $3,740,500.00. Following the completion of the sale, the chief operating officer directly owned 26,259 shares of the company’s stock, valued at approximately $3,928,871.58. This trade represents a 48.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Susan Cohen Levy sold 27,591 shares of the company’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $128.13, for a total value of $3,535,234.83. Following the completion of the transaction, the executive vice president directly owned 48,257 shares in the company, valued at approximately $6,183,169.41. This represents a 36.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 53,357 shares of company stock worth $7,370,987 in the last ninety days. 0.77% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

NTRS has been the topic of several analyst reports. Royal Bank Of Canada boosted their price target on shares of Northern Trust from $139.00 to $159.00 and gave the stock an “outperform” rating in a research report on Friday, January 23rd. Evercore ISI upped their target price on Northern Trust from $142.00 to $155.00 and gave the stock an “in-line” rating in a report on Friday, January 23rd. Weiss Ratings restated a “buy (b-)” rating on shares of Northern Trust in a research note on Thursday, January 22nd. Truist Financial set a $148.00 price target on Northern Trust in a research report on Wednesday, January 7th. Finally, BMO Capital Markets began coverage on Northern Trust in a report on Friday, October 3rd. They issued a “market perform” rating and a $142.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $148.75.

Northern Trust Trading Down 0.8%

NTRS stock opened at $149.43 on Friday. Northern Trust Corporation has a one year low of $81.62 and a one year high of $157.60. The stock has a market cap of $28.26 billion, a price-to-earnings ratio of 17.10, a price-to-earnings-growth ratio of 1.22 and a beta of 1.27. The company has a fifty day moving average price of $140.34 and a two-hundred day moving average price of $132.65. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.69 and a quick ratio of 0.70.

Northern Trust (NASDAQ:NTRS) last posted its earnings results on Friday, January 30th. The asset manager reported $2.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.37 by $0.05. Northern Trust had a net margin of 12.15% and a return on equity of 14.87%. The company had revenue of $3.15 billion during the quarter. During the same quarter in the prior year, the business posted $2.26 EPS. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. Equities analysts anticipate that Northern Trust Corporation will post 8.27 EPS for the current year.

Northern Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Friday, March 6th will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Friday, March 6th. Northern Trust’s payout ratio is currently 36.61%.

Northern Trust Profile

Northern Trust Corporation (NASDAQ: NTRS) is a global financial services firm headquartered in Chicago that provides asset servicing, asset management and wealth management solutions to institutions, corporations and high-net-worth individuals. The company’s core businesses include custody and fund administration, investment operations outsourcing, trust and fiduciary services, private banking, and retirement and defined contribution plan services.

Northern Trust’s product and service offerings span custody and fund accounting, portfolio and performance analytics, securities lending, cash management and foreign exchange, as well as discretionary and non-discretionary investment management.