TIAA Trust National Association Lowers Position in Northern Trust Co. (NASDAQ:NTRS)

TIAA Trust National Association trimmed its position in shares of Northern Trust Co. (NASDAQ:NTRS) by 6.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,553 shares of the asset manager’s stock after selling 545 shares during the quarter. TIAA Trust National Association’s holdings in Northern Trust were worth $774,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in NTRS. CoreFirst Bank & Trust purchased a new position in Northern Trust in the fourth quarter valued at $131,000. Stevens Capital Management LP acquired a new position in Northern Trust in the 4th quarter worth about $506,000. LPL Financial LLC boosted its position in Northern Trust by 83.5% during the fourth quarter. LPL Financial LLC now owns 45,184 shares of the asset manager’s stock worth $4,631,000 after purchasing an additional 20,564 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Northern Trust in the fourth quarter valued at approximately $7,437,000. Finally, Marietta Investment Partners LLC acquired a new position in shares of Northern Trust during the 4th quarter worth approximately $202,000. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Truist Financial lifted their price target on shares of Northern Trust from $110.00 to $116.00 and gave the company a “hold” rating in a research note on Friday, January 24th. Barclays boosted their target price on shares of Northern Trust from $115.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. Royal Bank of Canada raised their price target on shares of Northern Trust from $107.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, January 24th. StockNews.com lowered Northern Trust from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Finally, Morgan Stanley decreased their target price on Northern Trust from $138.00 to $136.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 6th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Northern Trust presently has an average rating of “Hold” and a consensus target price of $112.85.

Insider Activity

In related news, insider Jason J. Tyler sold 2,237 shares of the firm’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $112.67, for a total transaction of $252,042.79. Following the completion of the sale, the insider now directly owns 58,449 shares of the company’s stock, valued at approximately $6,585,448.83. This trade represents a 3.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Thomas A. South sold 3,804 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $113.00, for a total transaction of $429,852.00. Following the completion of the transaction, the executive vice president now directly owns 81,794 shares in the company, valued at $9,242,722. The trade was a 4.44 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,335 shares of company stock valued at $3,970,211. 0.64% of the stock is currently owned by company insiders.

Northern Trust Stock Down 0.9 %

Shares of NASDAQ:NTRS opened at $100.55 on Friday. Northern Trust Co. has a 52-week low of $79.32 and a 52-week high of $114.67. The stock has a market cap of $19.68 billion, a P/E ratio of 10.28, a PEG ratio of 1.72 and a beta of 1.07. The business has a fifty day moving average of $107.23 and a two-hundred day moving average of $102.71. The company has a quick ratio of 0.71, a current ratio of 0.68 and a debt-to-equity ratio of 0.58.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings data on Thursday, January 23rd. The asset manager reported $2.26 earnings per share (EPS) for the quarter, beating 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%. On average, research analysts expect that Northern Trust Co. will post 8.27 earnings per share for the current year.

Northern Trust Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 2.98%. Northern Trust’s dividend payout ratio is currently 30.67%.

Northern Trust 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.