Hartford Investment Management Co. Reduces Stock Holdings in Northern Trust Co. (NASDAQ:NTRS)

Hartford Investment Management Co. lessened its stake in shares of Northern Trust Co. (NASDAQ:NTRS) by 4.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 12,276 shares of the asset manager’s stock after selling 511 shares during the period. Hartford Investment Management Co.’s holdings in Northern Trust were worth $1,258,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of NTRS. Y.D. More Investments Ltd lifted its holdings in shares of Northern Trust by 118.4% in the 4th quarter. Y.D. More Investments Ltd now owns 249 shares of the asset manager’s stock worth $26,000 after acquiring an additional 135 shares during the last quarter. Brooklyn Investment Group lifted its stake in Northern Trust by 51.2% in the fourth quarter. Brooklyn Investment Group now owns 378 shares of the asset manager’s stock worth $39,000 after purchasing an additional 128 shares during the last quarter. Northwest Investment Counselors LLC purchased a new position in shares of Northern Trust during the third quarter valued at approximately $39,000. Capital Performance Advisors LLP bought a new position in shares of Northern Trust during the third quarter valued at approximately $48,000. Finally, Friedenthal Financial purchased a new stake in shares of Northern Trust in the fourth quarter worth approximately $57,000. 83.19% of the stock is currently owned by institutional investors.

Northern Trust Price Performance

NTRS opened at $110.77 on Friday. The firm has a market capitalization of $21.96 billion, a PE ratio of 11.33, a price-to-earnings-growth ratio of 1.74 and a beta of 1.08. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.68 and a quick ratio of 0.71. The business’s 50-day moving average is $106.54 and its two-hundred day moving average is $98.99. Northern Trust Co. has a 1 year low of $78.75 and a 1 year high of $114.67.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings data on Thursday, January 23rd. The asset manager reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.96 by $0.30. Northern Trust had a net margin of 12.77% and a return on equity of 13.74%. Research analysts anticipate that Northern Trust Co. will post 8.2 earnings per share for the current fiscal year.

Northern Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.75 per share. The ex-dividend date is Friday, March 14th. This represents a $3.00 annualized dividend and a dividend yield of 2.71%. Northern Trust’s dividend payout ratio is presently 30.67%.

Analyst Ratings Changes

A number of research firms recently issued reports on NTRS. The Goldman Sachs Group upped their price objective on Northern Trust from $92.00 to $102.00 and gave the company a “sell” rating in a research report on Friday, January 24th. Royal Bank of Canada raised their price target on shares of Northern Trust from $107.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday, January 24th. Morgan Stanley lowered their price objective on shares of Northern Trust from $127.00 to $125.00 and set an “equal weight” rating for the company in a research report on Friday, January 3rd. Deutsche Bank Aktiengesellschaft raised 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. Finally, Evercore ISI increased their price objective on Northern Trust from $86.00 to $103.00 and gave the stock an “in-line” rating in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $112.58.

Insider Transactions at Northern Trust

In other news, Vice Chairman Steven L. Fradkin sold 9,100 shares of Northern Trust stock in a transaction on Friday, November 29th. The shares were sold at an average price of $111.00, for a total transaction of $1,010,100.00. Following the completion of the sale, the insider now directly owns 47,797 shares in the company, valued at approximately $5,305,467. The trade was a 15.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Peter Cherecwich sold 26,132 shares of the company’s stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $112.36, for a total value of $2,936,191.52. Following the completion of the transaction, the chief operating officer now directly owns 26,586 shares in the company, valued at approximately $2,987,202.96. The trade was a 49.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 40,631 shares of company stock valued at $4,550,459 in the last quarter. 0.64% of the stock is currently owned by corporate insiders.

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.