Intact Investment Management Inc. Trims Position in Northern Trust Co. (NASDAQ:NTRS)

Intact Investment Management Inc. lessened its stake in Northern Trust Co. (NASDAQ:NTRS) by 25.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 600 shares of the asset manager’s stock after selling 210 shares during the period. Intact Investment Management Inc.’s holdings in Northern Trust were worth $62,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in NTRS. Madison Investment Advisors LLC purchased a new position in Northern Trust during the 4th quarter valued at about $7,510,000. CFO4Life Group LLC purchased a new position in Northern Trust during the 4th quarter valued at about $649,000. PGGM Investments purchased a new position in Northern Trust during the 4th quarter valued at about $3,229,000. Skandinaviska Enskilda Banken AB publ increased its position in Northern Trust by 202.2% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 119,016 shares of the asset manager’s stock valued at $12,227,000 after purchasing an additional 79,628 shares during the period. Finally, Erste Asset Management GmbH increased its position in Northern Trust by 12.2% during the 4th quarter. Erste Asset Management GmbH now owns 72,800 shares of the asset manager’s stock valued at $7,559,000 after purchasing an additional 7,900 shares during the period. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Northern Trust Stock Up 1.9 %

NTRS stock opened at $97.88 on Friday. 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 Co. has a 52 week low of $79.32 and a 52 week high of $114.67. The firm has a 50 day moving average of $107.74 and a 200 day moving average of $102.16. The stock has a market capitalization of $19.15 billion, a PE ratio of 10.01, a price-to-earnings-growth ratio of 1.72 and a beta of 1.07.

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

Northern Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 3.06%. The ex-dividend date is Friday, March 14th. Northern Trust’s payout ratio is 30.67%.

Insider Buying and Selling at Northern Trust

In related news, insider John Landers sold 900 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $111.44, for a total value of $100,296.00. Following the completion of the transaction, the insider now directly owns 7,640 shares in the company, valued at $851,401.60. The trade was a 10.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Jane Karpinski sold 2,262 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $111.33, for a total transaction of $251,828.46. Following the completion of the transaction, the executive vice president now owns 17,236 shares of the company’s stock, valued at approximately $1,918,883.88. This represents a 11.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,335 shares of company stock worth $3,970,211. Company insiders own 0.64% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on NTRS. Barclays raised their target price on shares of Northern Trust from $115.00 to $118.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. StockNews.com downgraded shares of Northern Trust from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Keefe, Bruyette & Woods lifted their price objective on shares of Northern Trust from $113.00 to $122.00 and gave the stock a “market perform” rating in a research report on Friday, January 24th. Truist Financial lifted their price objective on shares of Northern Trust from $110.00 to $116.00 and gave the stock a “hold” rating in a research report on Friday, January 24th. Finally, The Goldman Sachs Group lifted their price objective on shares of Northern Trust from $92.00 to $102.00 and gave the stock a “sell” rating in a research report 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 company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $113.50.

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.