ProShare Advisors LLC Sells 9,590 Shares of Northern Trust Corporation $NTRS

ProShare Advisors LLC reduced its stake in Northern Trust Corporation (NASDAQ:NTRS) by 19.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 40,204 shares of the asset manager’s stock after selling 9,590 shares during the period. ProShare Advisors LLC’s holdings in Northern Trust were worth $5,491,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Triumph Capital Management bought a new stake in Northern Trust during the 3rd quarter worth approximately $25,000. Board of the Pension Protection Fund bought a new stake in Northern Trust during the 4th quarter worth approximately $27,000. Elyxium Wealth LLC bought a new stake in Northern Trust during the 4th quarter worth approximately $34,000. International Assets Investment Management LLC bought a new stake in Northern Trust during the 4th quarter worth approximately $35,000. Finally, Olistico Wealth LLC bought a new stake in Northern Trust during the 4th quarter worth approximately $41,000. 83.19% of the stock is currently owned by institutional investors.

Northern Trust Stock Up 0.4%

NASDAQ:NTRS opened at $167.77 on Friday. The stock’s fifty day moving average price is $153.16 and its two-hundred day moving average price is $144.52. Northern Trust Corporation has a 52-week low of $104.09 and a 52-week high of $173.18. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.62 and a current ratio of 0.62. The company has a market cap of $31.05 billion, a price-to-earnings ratio of 17.57, a P/E/G ratio of 1.20 and a beta of 1.27.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings data on Tuesday, April 21st. The asset manager reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $2.13 billion. During the same quarter in the prior year, the business earned $1.90 EPS. The business’s revenue for the quarter was up 13.8% compared to the same quarter last year. On average, analysts anticipate that Northern Trust Corporation will post 10.68 EPS for the current year.

Northern Trust Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on NTRS shares. Citigroup started coverage on Northern Trust in a research report on Monday, February 23rd. They set a “neutral” rating on the stock. Wells Fargo & Company increased 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. Truist Financial increased 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. Royal Bank Of Canada increased 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. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Northern Trust currently has a consensus rating of “Hold” and an average target price of $164.08.

Insider Transactions at Northern Trust

In other Northern Trust news, insider Clive Bellows sold 2,800 shares of the company’s stock in a transaction on Friday, April 24th. The stock was sold at an average price of $165.02, for a total transaction of $462,056.00. Following the transaction, the insider owned 28,217 shares of the company’s stock, valued at approximately $4,656,369.34. This represents a 9.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert Edward Jr. Moritz acquired 225 shares of Northern Trust stock in a transaction on Friday, May 1st. The shares were purchased at an average cost of $166.41 per share, for a total transaction of $37,442.25. Following the acquisition, the director owned 8,145 shares in the company, valued at approximately $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. Insiders sold a total of 30,514 shares of company stock worth $4,890,937 in the last quarter. 0.66% of the stock is owned by corporate 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.