North Reef Capital Management LP Decreases Holdings in Northern Trust Corporation $NTRS

North Reef Capital Management LP cut its stake in shares of Northern Trust Corporation (NASDAQ:NTRS) by 3.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 298,559 shares of the asset manager’s stock after selling 12,052 shares during the period. Northern Trust comprises approximately 1.4% of North Reef Capital Management LP’s holdings, making the stock its 15th largest position. North Reef Capital Management LP’s holdings in Northern Trust were worth $41,670,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of NTRS. Reflection Asset Management purchased a new stake in Northern Trust during the fourth quarter valued at $25,000. Triumph Capital Management bought a new position in Northern Trust in the third quarter valued at about $25,000. Elyxium Wealth LLC purchased a new position in Northern Trust in the fourth quarter worth about $34,000. International Assets Investment Management LLC purchased a new position in Northern Trust in the fourth quarter worth about $35,000. Finally, Transamerica Financial Advisors LLC grew its stake in shares of Northern Trust by 54.1% during the 4th quarter. Transamerica Financial Advisors LLC now owns 265 shares of the asset manager’s stock valued at $36,000 after purchasing an additional 93 shares during the period. 83.19% of the stock is currently owned by hedge funds and other institutional investors.

Northern Trust Stock Up 1.4%

NTRS stock opened at $180.52 on Friday. The business’s 50-day moving average price is $174.80 and its 200-day moving average price is $157.87. The stock has a market cap of $33.41 billion, a P/E ratio of 15.50, a PEG ratio of 1.13 and a beta of 1.25. The company has a quick ratio of 0.62, a current ratio of 0.65 and a debt-to-equity ratio of 0.43. Northern Trust Corporation has a twelve month low of $121.12 and a twelve month high of $191.60.

Northern Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 4th will be paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Friday, September 4th. This is a positive change from Northern Trust’s previous quarterly dividend of $0.80. Northern Trust’s dividend payout ratio (DPR) is 27.47%.

Wall Street Analysts Forecast Growth

NTRS has been the topic of a number of research reports. Evercore set a $179.00 price objective on shares of Northern Trust in a report on Monday, July 6th. JPMorgan Chase & Co. upped their target price on shares of Northern Trust from $170.00 to $179.50 and gave the company a “neutral” rating in a report on Monday, July 6th. Barclays increased their price target on shares of Northern Trust from $176.00 to $189.00 and gave the stock an “equal weight” rating in a research report on Thursday. Keefe, Bruyette & Woods lifted their price target on shares of Northern Trust from $157.00 to $175.00 and gave the stock an “underperform” rating in a research note on Thursday, July 9th. Finally, Royal Bank Of Canada downgraded shares of Northern Trust from an “outperform” rating to a “sector perform” rating and set a $178.00 price objective for the company. in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $180.25.

Insider Activity at Northern Trust

In other news, CFO David W. Fox, Jr. sold 19,987 shares of the firm’s stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $166.16, for a total transaction of $3,321,039.92. Following the sale, the chief financial officer directly owned 18,588 shares in the company, valued at $3,088,582.08. This trade represents a 51.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert Edward Jr. Moritz bought 225 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were purchased at an average price of $166.41 per share, for a total transaction of $37,442.25. Following the purchase, the director owned 8,145 shares in the company, valued at $1,355,409.45. This represents a 2.84% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.66% of the stock is owned by insiders.

About Northern Trust

Northern Trust Corporation (NASDAQ: NTRS) is a global financial services firm headquartered in Chicago that provides asset servicing, asset management and wealth management solutions to institutions, corporations and high-net-worth individuals. The company’s core businesses include custody and fund administration, investment operations outsourcing, trust and fiduciary services, private banking, and retirement and defined contribution plan services.

Northern Trust’s product and service offerings span custody and fund accounting, portfolio and performance analytics, securities lending, cash management and foreign exchange, as well as discretionary and non-discretionary investment management.