Northern Trust Co. (NASDAQ:NTRS) Shares Sold by Amalgamated Bank

Amalgamated Bank trimmed its holdings in Northern Trust Co. (NASDAQ:NTRS) by 4.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 37,893 shares of the asset manager’s stock after selling 1,706 shares during the quarter. Amalgamated Bank’s holdings in Northern Trust were worth $3,884,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NTRS. Y.D. More Investments Ltd boosted its stake in shares of Northern Trust by 118.4% in the fourth quarter. Y.D. More Investments Ltd now owns 249 shares of the asset manager’s stock worth $26,000 after buying an additional 135 shares during the last quarter. Brooklyn Investment Group grew its stake in shares of Northern Trust by 51.2% during the 4th 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 period. Capital Performance Advisors LLP acquired a new stake in shares of Northern Trust during the 3rd quarter worth approximately $48,000. Friedenthal Financial purchased a new position in shares of Northern Trust during the 4th quarter valued at approximately $57,000. Finally, Versant Capital Management Inc boosted its holdings in Northern Trust by 34.9% during the fourth quarter. Versant Capital Management Inc now owns 684 shares of the asset manager’s stock worth $70,000 after buying an additional 177 shares in the last quarter. 83.19% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. The Goldman Sachs Group lifted their price objective on shares of Northern Trust from $92.00 to $102.00 and gave the company a “sell” rating in a report on Friday, January 24th. Truist Financial upped their price target on Northern Trust from $110.00 to $116.00 and gave the stock a “hold” rating in a report on Friday, January 24th. Morgan Stanley reduced 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. UBS Group increased their price objective on shares of Northern Trust from $110.00 to $114.00 and gave the company a “neutral” rating in a report on Monday, January 27th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Northern Trust from $113.00 to $122.00 and gave the stock a “market perform” rating in a research note on Friday, January 24th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $112.58.

Insider Buying and Selling

In related news, insider Jason J. Tyler sold 2,237 shares of the stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $112.67, for a total value of $252,042.79. Following the completion of the transaction, the insider now directly owns 58,449 shares in the company, valued at approximately $6,585,448.83. This represents a 3.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Peter Cherecwich sold 26,132 shares of Northern Trust 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 sale, the chief operating officer now owns 26,586 shares in the company, valued at $2,987,202.96. This represents a 49.57 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,335 shares of company stock worth $3,970,211. Insiders own 0.64% of the company’s stock.

Northern Trust Trading Up 1.0 %

NTRS opened at $110.22 on Friday. The firm has a market capitalization of $21.85 billion, a price-to-earnings ratio of 11.27, a price-to-earnings-growth ratio of 1.72 and a beta of 1.08. The company’s 50 day simple moving average is $108.02 and its two-hundred day simple moving average is $101.01. Northern Trust Co. has a 1-year low of $79.30 and a 1-year high of $114.67. 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 released its quarterly earnings data on Thursday, January 23rd. The asset manager reported $2.26 earnings per share 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 expect 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 issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date of this dividend is Friday, March 14th. Northern Trust’s dividend payout ratio is currently 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.