Sumitomo Mitsui Trust Group Inc. Decreases Holdings in Northern Trust Co. (NASDAQ:NTRS)

Sumitomo Mitsui Trust Group Inc. cut its stake in Northern Trust Co. (NASDAQ:NTRS) by 0.1% during the 4th quarter, HoldingsChannel reports. The firm owned 452,169 shares of the asset manager’s stock after selling 533 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Northern Trust were worth $46,347,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Y.D. More Investments Ltd grew 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 valued at $26,000 after buying an additional 135 shares in the last quarter. Brooklyn Investment Group grew its position in Northern Trust by 51.2% in the fourth quarter. Brooklyn Investment Group now owns 378 shares of the asset manager’s stock valued at $39,000 after acquiring an additional 128 shares in the last quarter. Northwest Investment Counselors LLC purchased a new stake in shares of Northern Trust during the third quarter valued at approximately $39,000. Capital Performance Advisors LLP acquired a new position in shares of Northern Trust during the third quarter worth $48,000. Finally, Friedenthal Financial purchased a new position in shares of Northern Trust in the fourth quarter valued at $57,000. Institutional investors and hedge funds own 83.19% of the company’s stock.

Northern Trust Stock Down 2.2 %

NTRS stock opened at $111.00 on Tuesday. The firm has a fifty day moving average price of $106.44 and a two-hundred day moving average price of $98.51. 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 Co. has a 1-year low of $76.67 and a 1-year high of $114.67. The firm has a market cap of $22.00 billion, a price-to-earnings ratio of 11.35, a PEG ratio of 1.74 and a beta of 1.08.

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 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%. Research analysts predict that Northern Trust Co. will post 8.2 EPS for the current year.

Northern Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given 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 yield of 2.70%. Northern Trust’s dividend payout ratio is currently 30.67%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on NTRS shares. StockNews.com upgraded shares of Northern Trust from a “hold” rating to a “buy” rating in a report on Friday, January 24th. Barclays boosted 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. Keefe, Bruyette & Woods lifted their price objective on Northern Trust from $113.00 to $122.00 and gave the stock a “market perform” rating in a report on Friday, January 24th. The Goldman Sachs Group upped their target price on Northern Trust from $92.00 to $102.00 and gave the company a “sell” rating in a research report on Friday, January 24th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Northern Trust from $100.00 to $108.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $112.58.

Insider Buying and Selling

In other Northern Trust news, COO Peter Cherecwich sold 26,132 shares of the company’s stock in a transaction dated 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 transaction, the chief operating officer now owns 26,586 shares in the company, valued at approximately $2,987,202.96. This represents a 49.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jason J. Tyler sold 2,237 shares of Northern Trust stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $112.67, for a total value of $252,042.79. Following the sale, the insider now directly owns 58,449 shares in the company, valued at $6,585,448.83. The trade was a 3.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 40,631 shares of company stock worth $4,550,459 in the last three months. 0.64% of the stock is owned by insiders.

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.