Legal & General Group Plc Sells 62,759 Shares of Northern Trust Corporation $NTRS

Legal & General Group Plc decreased its position in shares of Northern Trust Corporation (NASDAQ:NTRS) by 4.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 1,351,836 shares of the asset manager’s stock after selling 62,759 shares during the quarter. Legal & General Group Plc’s holdings in Northern Trust were worth $184,647,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. Triumph Capital Management bought a new position in shares of Northern Trust in the third quarter worth $25,000. Board of the Pension Protection Fund bought a new position in shares of Northern Trust in the fourth quarter worth $27,000. Elyxium Wealth LLC bought a new position in shares of Northern Trust in the fourth quarter worth $34,000. International Assets Investment Management LLC bought a new position in shares of Northern Trust in the fourth quarter worth $35,000. Finally, Olistico Wealth LLC bought a new position in shares of Northern Trust in the fourth quarter worth $41,000. Institutional investors own 83.19% of the company’s stock.

Insiders Place Their Bets

In other Northern Trust news, Director Robert Edward Jr. Moritz bought 225 shares of the firm’s stock in a transaction 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 completion of the transaction, the director directly owned 8,145 shares in the company, valued at approximately $1,355,409.45. The trade was a 2.84% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO David W. Fox, Jr. sold 19,987 shares of Northern Trust stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $166.16, for a total value of $3,321,039.92. Following the completion of the transaction, the chief financial officer owned 18,588 shares in the company, valued at approximately $3,088,582.08. This represents a 51.81% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 29,064 shares of company stock worth $4,682,064. Insiders own 0.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Royal Bank Of Canada raised their price target on Northern Trust from $159.00 to $178.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. BMO Capital Markets upgraded Northern Trust from a “market perform” rating to an “outperform” rating and set a $168.00 price target on the stock in a research report on Monday, April 6th. Truist Financial raised their price target on Northern Trust from $155.00 to $176.00 and gave the stock a “hold” rating in a research report on Wednesday, April 22nd. Wells Fargo & Company raised their price target on Northern Trust from $150.00 to $175.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 22nd. Finally, Barclays raised their price target on Northern Trust from $160.00 to $176.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $164.08.

Northern Trust Stock Performance

Northern Trust stock opened at $167.94 on Thursday. Northern Trust Corporation has a 12-month low of $104.99 and a 12-month high of $173.18. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.51. The business’s 50-day moving average price is $155.06 and its two-hundred day moving average price is $145.49. The stock has a market cap of $31.08 billion, a PE ratio of 17.59, a P/E/G ratio of 1.22 and a beta of 1.27.

Northern Trust (NASDAQ:NTRS) last released its earnings results on Tuesday, April 21st. The asset manager reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.37 by $0.34. Northern Trust had a return on equity of 15.94% and a net margin of 12.84%.The firm had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter in the previous year, the business posted $1.90 earnings per share. The business’s revenue for the quarter was up 13.8% on a year-over-year basis. As a group, analysts expect that Northern Trust Corporation will post 10.68 earnings per share for the current fiscal year.

Northern Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 5th will be given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Friday, June 5th. Northern Trust’s payout ratio is currently 33.51%.

Northern Trust Company Profile

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.