Securian Asset Management Inc. Decreases Stock Position in Northern Trust Corporation $NTRS

Securian Asset Management Inc. cut its stake in shares of Northern Trust Corporation (NASDAQ:NTRS) by 44.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,142 shares of the asset manager’s stock after selling 4,044 shares during the quarter. Securian Asset Management Inc.’s holdings in Northern Trust were worth $702,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Empowered Funds LLC lifted its position in Northern Trust by 13.3% in the first quarter. Empowered Funds LLC now owns 20,112 shares of the asset manager’s stock valued at $1,984,000 after purchasing an additional 2,363 shares during the last quarter. Woodline Partners LP raised its holdings in Northern Trust by 39.1% during the 1st quarter. Woodline Partners LP now owns 16,557 shares of the asset manager’s stock valued at $1,633,000 after buying an additional 4,653 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in Northern Trust by 79.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,350 shares of the asset manager’s stock valued at $171,000 after buying an additional 596 shares during the period. WINTON GROUP Ltd bought a new stake in Northern Trust in the 2nd quarter worth $267,000. Finally, Daiwa Securities Group Inc. grew its holdings in Northern Trust by 4.6% in the 2nd quarter. Daiwa Securities Group Inc. now owns 29,290 shares of the asset manager’s stock worth $3,714,000 after acquiring an additional 1,275 shares during the last quarter. 83.19% of the stock is currently owned by institutional investors.

Insider Transactions at Northern Trust

In related news, CFO David W. Fox, Jr. sold 19,987 shares of the company’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $166.16, for a total value of $3,321,039.92. Following the sale, the chief financial officer directly owned 18,588 shares of the company’s stock, valued at $3,088,582.08. This represents a 51.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robert Edward Jr. Moritz acquired 225 shares of the firm’s stock in a transaction on Friday, May 1st. The stock was purchased at an average price of $166.41 per share, with a total value of $37,442.25. Following the acquisition, the director owned 8,145 shares of the company’s stock, valued at $1,355,409.45. This represents a 2.84% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have sold 30,514 shares of company stock valued at $4,890,937. Company insiders own 0.66% of the company’s stock.

Northern Trust Price Performance

Shares of NASDAQ NTRS opened at $164.30 on Friday. Northern Trust Corporation has a 1 year low of $104.09 and a 1 year high of $173.18. The stock has a market capitalization of $30.40 billion, a P/E ratio of 17.20, a P/E/G ratio of 1.17 and a beta of 1.27. The company’s 50-day moving average is $150.15 and its 200 day moving average is $143.01. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.62 and a quick ratio of 0.62.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings data on Tuesday, April 21st. The asset manager reported $2.71 earnings per share for the quarter, beating 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 business had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same period in the previous year, the firm posted $1.90 EPS. The business’s revenue was up 13.8% on a year-over-year basis. On average, sell-side analysts expect that Northern Trust Corporation will post 10.68 earnings per share for the current year.

Northern Trust Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages have recently commented on NTRS. Royal Bank Of Canada upped their price objective on shares of Northern Trust from $159.00 to $178.00 and gave the company an “outperform” rating in a research note on Wednesday, April 22nd. Zacks Research upgraded Northern Trust from a “hold” rating to a “strong-buy” rating in a report on Tuesday. Evercore upped their price target on Northern Trust from $142.00 to $155.00 and gave the company an “in-line” rating in a research report on Friday, January 23rd. Weiss Ratings upgraded Northern Trust from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. Finally, BMO Capital Markets upgraded Northern Trust from a “market perform” rating to an “outperform” rating and set a $168.00 price objective on the stock in a research report on Monday, April 6th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $164.08.

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.