Mission Wealth Management LP Trims Stake in Northern Trust Co. (NASDAQ:NTRS)

Mission Wealth Management LP lowered its position in Northern Trust Co. (NASDAQ:NTRS) by 23.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,929 shares of the asset manager’s stock after selling 2,378 shares during the quarter. Mission Wealth Management LP’s holdings in Northern Trust were worth $813,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Northern Trust by 8.4% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 15,807 shares of the asset manager’s stock valued at $1,423,000 after acquiring an additional 1,219 shares in the last quarter. Farther Finance Advisors LLC increased its position in shares of Northern Trust by 238.7% in the third quarter. Farther Finance Advisors LLC now owns 3,275 shares of the asset manager’s stock worth $295,000 after purchasing an additional 2,308 shares during the last quarter. Chicago Partners Investment Group LLC purchased a new stake in Northern Trust in the third quarter valued at approximately $177,000. Van ECK Associates Corp lifted its position in Northern Trust by 1.4% during the third quarter. Van ECK Associates Corp now owns 131,481 shares of the asset manager’s stock valued at $11,837,000 after purchasing an additional 1,806 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its stake in Northern Trust by 55.4% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 416,664 shares of the asset manager’s stock worth $37,512,000 after buying an additional 148,584 shares in the last quarter. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Insider Activity at Northern Trust

In other news, EVP Jane Karpinski sold 2,262 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $111.33, for a total value of $251,828.46. Following the completion of the transaction, the executive vice president now owns 17,236 shares in the company, valued at $1,918,883.88. This trade represents a 11.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Peter Cherecwich sold 26,132 shares of the company’s stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $112.36, for a total value of $2,936,191.52. Following the completion of the sale, 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 have sold 35,335 shares of company stock worth $3,970,211 over the last 90 days. 0.64% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

NTRS has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft boosted their target price on Northern Trust from $100.00 to $108.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Keefe, Bruyette & Woods boosted their price objective on shares of Northern Trust from $113.00 to $122.00 and gave the stock a “market perform” rating in a report on Friday, January 24th. Royal Bank of Canada increased their target price on shares of Northern Trust from $107.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, January 24th. UBS Group boosted their price target on shares of Northern Trust from $110.00 to $114.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. Finally, Wells Fargo & Company raised their price objective on Northern Trust from $108.00 to $110.00 and gave the company an “equal weight” rating in a research note on Friday, November 15th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $112.58.

Northern Trust Trading Down 4.6 %

NTRS opened at $104.37 on Wednesday. The firm has a market capitalization of $20.43 billion, a price-to-earnings ratio of 10.67, a PEG ratio of 1.72 and a beta of 1.08. Northern Trust Co. has a one year low of $79.30 and a one year high of $114.67. The business has a 50 day simple moving average of $108.18 and a two-hundred day simple moving average of $101.53. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.68 and a quick ratio of 0.71.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings results on Thursday, January 23rd. The asset manager reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $0.30. Northern Trust had a return on equity of 13.74% and a net margin of 12.77%. Analysts predict that Northern Trust Co. will post 8.27 EPS for the current year.

Northern Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date is Friday, March 14th. Northern Trust’s payout ratio is 30.67%.

About Northern Trust

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.