Cibc World Markets Corp Cuts Stock Holdings in Northern Trust Co. (NASDAQ:NTRS)

Cibc World Markets Corp lowered its position in Northern Trust Co. (NASDAQ:NTRS) by 19.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 31,459 shares of the asset manager’s stock after selling 7,793 shares during the period. Cibc World Markets Corp’s holdings in Northern Trust were worth $3,225,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of NTRS. Empowered Funds LLC boosted its stake in Northern Trust by 7.7% in the third quarter. Empowered Funds LLC now owns 4,094 shares of the asset manager’s stock worth $369,000 after buying an additional 293 shares in the last quarter. Natixis Advisors LLC boosted its stake in Northern Trust by 31.6% in the third quarter. Natixis Advisors LLC now owns 81,774 shares of the asset manager’s stock worth $7,362,000 after buying an additional 19,655 shares in the last quarter. Pathstone Holdings LLC boosted its stake in Northern Trust by 2.6% in the third quarter. Pathstone Holdings LLC now owns 15,936 shares of the asset manager’s stock worth $1,437,000 after buying an additional 402 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Northern Trust in the third quarter worth approximately $2,071,000. Finally, Ontario Teachers Pension Plan Board purchased a new stake in Northern Trust in the third quarter worth approximately $390,000. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Insiders Place Their Bets

In other Northern Trust news, EVP Thomas A. South sold 3,804 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $113.00, for a total value of $429,852.00. Following the completion of the transaction, the executive vice president now owns 81,794 shares in the company, valued at approximately $9,242,722. This represents a 4.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jason J. Tyler sold 2,237 shares of the stock in a transaction 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 sale, 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,335 shares of company stock worth $3,970,211. 0.64% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on NTRS. Morgan Stanley cut their target price on Northern Trust from $138.00 to $136.00 and set an “equal weight” rating for the company in a research note on Thursday, March 6th. Keefe, Bruyette & Woods boosted their price objective on Northern Trust from $113.00 to $122.00 and gave the company a “market perform” rating in a research report on Friday, January 24th. Truist Financial boosted their price objective on Northern Trust from $110.00 to $116.00 and gave the company a “hold” rating in a research report on Friday, January 24th. Royal Bank of Canada boosted their price objective on Northern Trust from $107.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, January 24th. Finally, StockNews.com downgraded Northern Trust from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. One 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. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $113.50.

Northern Trust Price Performance

Shares of Northern Trust stock opened at $98.87 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. The company has a market cap of $19.35 billion, a PE ratio of 10.11, a P/E/G ratio of 1.72 and a beta of 1.07. The business has a 50 day moving average of $107.44 and a 200 day moving average of $102.32. Northern Trust Co. has a 52 week low of $79.32 and a 52 week high of $114.67.

Northern Trust (NASDAQ:NTRS) last announced its earnings results on Thursday, January 23rd. The asset manager reported $2.26 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%. As a group, equities research analysts forecast that Northern Trust Co. will post 8.27 earnings per share for the current year.

Northern Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a $0.75 dividend. The ex-dividend date is Friday, March 14th. This represents a $3.00 dividend on an annualized basis and a yield of 3.03%. Northern Trust’s dividend payout ratio (DPR) is 30.67%.

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.