AIA Group Ltd Cuts Position in Northern Trust Co. (NASDAQ:NTRS)

AIA Group Ltd lowered its stake in shares of Northern Trust Co. (NASDAQ:NTRS) by 4.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 552,343 shares of the asset manager’s stock after selling 25,512 shares during the period. Northern Trust comprises 1.4% of AIA Group Ltd’s portfolio, making the stock its 12th largest holding. AIA Group Ltd owned 0.28% of Northern Trust worth $56,615,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its position in Northern Trust by 9.9% during the third quarter. JPMorgan Chase & Co. now owns 4,296,442 shares of the asset manager’s stock worth $386,809,000 after buying an additional 388,692 shares in the last quarter. Wellington Management Group LLP raised its stake in 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 purchasing an additional 39,592 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Northern Trust by 1.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,577,091 shares of the asset manager’s stock valued at $141,986,000 after purchasing an additional 16,500 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Northern Trust by 0.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,267,406 shares of the asset manager’s stock valued at $129,909,000 after purchasing an additional 8,102 shares in the last quarter. Finally, KBC Group NV raised its position in shares of Northern Trust by 201.6% in the fourth quarter. KBC Group NV now owns 963,811 shares of the asset manager’s stock valued at $98,791,000 after buying an additional 644,261 shares during the last quarter. 83.19% of the stock is owned by hedge funds and other institutional investors.

Northern Trust Stock Down 3.4 %

NTRS opened at $97.15 on Monday. The stock’s fifty day moving average is $107.04 and its 200-day moving average is $102.99. Northern Trust Co. has a one year low of $79.32 and a one year high of $114.67. The company has a market capitalization of $19.01 billion, a PE ratio of 9.93, a P/E/G ratio of 1.72 and a beta of 1.07. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.68.

Northern Trust (NASDAQ:NTRS) last posted its quarterly 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 net margin of 12.77% and a return on equity of 13.74%. On average, equities analysts predict that Northern Trust Co. will post 8.27 EPS for the current fiscal year.

Northern Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date of this dividend is Friday, March 14th. Northern Trust’s dividend payout ratio is 30.67%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on NTRS shares. Barclays increased their price target on Northern Trust from $115.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. Wells Fargo & Company dropped their price objective on shares of Northern Trust from $119.00 to $118.00 and set an “equal weight” rating for the company in a research note on Friday. Keefe, Bruyette & Woods boosted their target price on shares of Northern Trust from $113.00 to $122.00 and gave the company a “market perform” rating in a report on Friday, January 24th. Truist Financial increased their price target on shares of Northern Trust from $110.00 to $116.00 and gave the stock a “hold” rating in a research note on Friday, January 24th. Finally, Royal Bank of Canada upped their price objective on Northern Trust from $107.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, January 24th. One analyst has rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $113.46.

Insiders Place Their Bets

In related news, COO Peter Cherecwich sold 26,132 shares of Northern Trust stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $112.36, for a total transaction of $2,936,191.52. Following the completion of the sale, the chief operating officer now owns 26,586 shares of the company’s stock, valued at approximately $2,987,202.96. This trade represents a 49.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jason J. Tyler sold 2,237 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $112.67, for a total transaction of $252,042.79. Following the transaction, the insider now directly owns 58,449 shares in the company, valued at approximately $6,585,448.83. The trade was a 3.69 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,335 shares of company stock worth $3,970,211. Corporate insiders own 0.77% of the company’s stock.

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.