Corient Private Wealth LLC Sells 47,479 Shares of Northern Trust Co. (NASDAQ:NTRS)

Corient Private Wealth LLC decreased its holdings in Northern Trust Co. (NASDAQ:NTRS) by 11.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 372,502 shares of the asset manager’s stock after selling 47,479 shares during the period. Corient Private Wealth LLC owned 0.19% of Northern Trust worth $38,182,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NTRS. Y.D. More Investments Ltd raised its position in Northern Trust by 118.4% during the fourth quarter. Y.D. More Investments Ltd now owns 249 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 135 shares during the period. Empirical Asset Management LLC purchased a new position in Northern Trust during the fourth quarter worth $33,000. Brooklyn Investment Group boosted its stake in Northern Trust by 51.2% during the fourth quarter. Brooklyn Investment Group now owns 378 shares of the asset manager’s stock worth $39,000 after buying an additional 128 shares during the period. Assetmark Inc. increased its position in Northern Trust by 528.3% during the fourth quarter. Assetmark Inc. now owns 377 shares of the asset manager’s stock valued at $39,000 after acquiring an additional 317 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new stake in shares of Northern Trust in the fourth quarter valued at $51,000. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on NTRS shares. Morgan Stanley cut their price target on shares of Northern Trust from $138.00 to $136.00 and set an “equal weight” rating on the stock in a report on Thursday, March 6th. Royal Bank of Canada increased their target price on Northern Trust from $107.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday, January 24th. The Goldman Sachs Group boosted their target price on shares of Northern Trust from $92.00 to $102.00 and gave the company a “sell” rating in a research note on Friday, January 24th. UBS Group raised 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, Truist Financial boosted their price objective on shares of Northern Trust from $110.00 to $116.00 and gave the company a “hold” rating in a research report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $113.50.

Insider Activity

In related news, EVP Thomas A. South sold 3,804 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $113.00, for a total transaction of $429,852.00. Following the transaction, the executive vice president now directly owns 81,794 shares of the company’s stock, valued at $9,242,722. This represents a 4.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, 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 transaction of $2,936,191.52. Following the transaction, the chief operating officer now owns 26,586 shares in the company, valued at approximately $2,987,202.96. This trade represents a 49.57 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 35,335 shares of company stock worth $3,970,211. Corporate insiders own 0.64% of the company’s stock.

Northern Trust Stock Performance

Shares of NTRS stock opened at $98.68 on Tuesday. The firm has a market cap of $19.31 billion, a price-to-earnings ratio of 10.09, a PEG ratio of 1.72 and a beta of 1.07. Northern Trust Co. has a 52-week low of $79.32 and a 52-week high of $114.67. The company has a quick ratio of 0.71, a current ratio of 0.68 and a debt-to-equity ratio of 0.58. The company’s 50 day moving average is $107.65 and its 200 day moving average is $102.32.

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

Northern Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 3.04%. The ex-dividend date of this dividend 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.