Nomura Asset Management Co. Ltd. Reduces Holdings in Northern Trust Co. (NASDAQ:NTRS)

Nomura Asset Management Co. Ltd. cut its stake in shares of Northern Trust Co. (NASDAQ:NTRS) by 2.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 166,423 shares of the asset manager’s stock after selling 3,570 shares during the quarter. Nomura Asset Management Co. Ltd. owned 0.08% of Northern Trust worth $14,043,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Fortitude Family Office LLC purchased a new stake in Northern Trust during the 4th quarter valued at about $28,000. Allworth Financial LP boosted its holdings in Northern Trust by 94.1% during the 4th quarter. Allworth Financial LP now owns 359 shares of the asset manager’s stock valued at $30,000 after acquiring an additional 174 shares during the period. Quent Capital LLC boosted its holdings in Northern Trust by 77.8% during the 4th quarter. Quent Capital LLC now owns 361 shares of the asset manager’s stock valued at $30,000 after acquiring an additional 158 shares during the period. Friedenthal Financial purchased a new stake in Northern Trust during the 4th quarter valued at about $45,000. Finally, Bruce G. Allen Investments LLC purchased a new stake in Northern Trust during the 4th quarter valued at about $45,000. 83.19% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NTRS has been the subject of several research reports. Jefferies Financial Group increased their target price on Northern Trust from $101.00 to $103.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Evercore ISI increased their target price on Northern Trust from $86.00 to $87.00 and gave the stock an “in-line” rating in a research report on Thursday, April 4th. Bank of America increased their target price on Northern Trust from $93.00 to $101.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Finally, Morgan Stanley reissued an “underweight” rating and issued a $86.00 target price (up previously from $82.00) on shares of Northern Trust in a research report on Tuesday, January 30th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $84.92.

Northern Trust Stock Performance

Shares of NTRS opened at $83.31 on Monday. The business’s fifty day simple moving average is $84.94 and its two-hundred day simple moving average is $82.20. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. Northern Trust Co. has a 12 month low of $62.44 and a 12 month high of $89.25. The company has a market cap of $17.04 billion, a price-to-earnings ratio of 18.39, a P/E/G ratio of 1.19 and a beta of 1.13.

Northern Trust (NASDAQ:NTRS) last issued its earnings results on Tuesday, April 16th. The asset manager reported $1.70 EPS for the quarter, beating the consensus estimate of $1.47 by $0.23. Northern Trust had a return on equity of 12.57% and a net margin of 7.59%. The business had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.79 billion. Research analysts anticipate that Northern Trust Co. will post 6.82 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 Monday, July 1st. Shareholders of record on Friday, June 7th will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $3.00 annualized dividend and a yield of 3.60%. Northern Trust’s dividend payout ratio is 66.23%.

Insider Buying and Selling at Northern Trust

In other Northern Trust news, insider Steven L. Fradkin sold 4,097 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $82.56, for a total transaction of $338,248.32. Following the sale, the insider now directly owns 46,078 shares in the company, valued at approximately $3,804,199.68. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Steven L. Fradkin sold 4,097 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $82.56, for a total value of $338,248.32. Following the transaction, the insider now directly owns 46,078 shares in the company, valued at approximately $3,804,199.68. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Peter Cherecwich sold 12,000 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $87.09, for a total value of $1,045,080.00. Following the completion of the transaction, the insider now owns 31,471 shares in the company, valued at $2,740,809.39. The disclosure for this sale can be found here. Company insiders own 0.64% of the company’s stock.

About Northern Trust

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.