Canvas Wealth Advisors LLC Sells 7,349 Shares of Northern Trust Co. (NASDAQ:NTRS)

Canvas Wealth Advisors LLC cut its stake in Northern Trust Co. (NASDAQ:NTRS) by 46.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,583 shares of the asset manager’s stock after selling 7,349 shares during the quarter. Canvas Wealth Advisors LLC’s holdings in Northern Trust were worth $886,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Y.D. More Investments Ltd lifted its stake in Northern Trust by 118.4% during the 4th quarter. Y.D. More Investments Ltd now owns 249 shares of the asset manager’s stock valued at $26,000 after acquiring an additional 135 shares in the last quarter. Brooklyn Investment Group raised its holdings in shares of Northern Trust by 51.2% in the fourth quarter. Brooklyn Investment Group now owns 378 shares of the asset manager’s stock valued at $39,000 after purchasing an additional 128 shares during the last quarter. Northwest Investment Counselors LLC bought a new position in shares of Northern Trust during the third quarter valued at about $39,000. Capital Performance Advisors LLP purchased a new position in Northern Trust during the third quarter worth about $48,000. Finally, Friedenthal Financial bought a new stake in Northern Trust in the 4th quarter worth about $57,000. Institutional investors own 83.19% of the company’s stock.

Northern Trust Stock Performance

Shares of NTRS stock opened at $113.51 on Monday. The firm’s 50 day moving average is $106.44 and its 200 day moving average is $98.43. The stock has a market capitalization of $22.50 billion, a P/E ratio of 11.61, a PEG ratio of 1.74 and a beta of 1.08. Northern Trust Co. has a 12 month low of $76.67 and a 12 month high of $114.67. The company has a current ratio of 0.68, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58.

Northern Trust (NASDAQ:NTRS) last posted its earnings results on Thursday, January 23rd. The asset manager reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.96 by $0.30. Northern Trust had a return on equity of 13.74% and a net margin of 12.77%. On average, sell-side analysts anticipate that Northern Trust Co. will post 8.2 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, April 1st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date is Friday, March 14th. Northern Trust’s payout ratio is presently 30.67%.

Analyst Upgrades and Downgrades

NTRS has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Northern Trust from $100.00 to $108.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Royal Bank of Canada boosted their price objective on Northern Trust from $107.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, January 24th. Evercore ISI raised their target price on Northern Trust from $86.00 to $103.00 and gave the company an “in-line” rating in a research report on Thursday, October 24th. Morgan Stanley cut their price target on shares of Northern Trust from $127.00 to $125.00 and set an “equal weight” rating on the stock in a report on Friday, January 3rd. Finally, Bank of America increased their price target on shares of Northern Trust from $103.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Northern Trust presently has a consensus rating of “Hold” and a consensus price target of $112.58.

Insider Activity

In related news, insider John Landers sold 900 shares of the business’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $111.44, for a total transaction of $100,296.00. Following the completion of the transaction, the insider now directly owns 7,640 shares in the company, valued at $851,401.60. The trade was a 10.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jane Karpinski sold 2,262 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $111.33, for a total value of $251,828.46. Following the completion of the sale, the executive vice president now directly owns 17,236 shares in the company, valued at approximately $1,918,883.88. The trade was a 11.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 40,631 shares of company stock worth $4,550,459 over the last ninety days. Company insiders own 0.64% of the company’s stock.

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.