Royal Bank of Canada Sells 122,399 Shares of Northern Trust Corporation $NTRS

Royal Bank of Canada decreased its position in Northern Trust Corporation (NASDAQ:NTRS) by 14.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 701,631 shares of the asset manager’s stock after selling 122,399 shares during the period. Royal Bank of Canada’s holdings in Northern Trust were worth $97,927,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Reflection Asset Management acquired a new stake in shares of Northern Trust during the 4th quarter worth approximately $25,000. Triumph Capital Management acquired a new position in shares of Northern Trust in the third quarter valued at $25,000. Elyxium Wealth LLC bought a new position in Northern Trust in the fourth quarter worth $34,000. International Assets Investment Management LLC bought a new position in Northern Trust in the fourth quarter worth $35,000. Finally, Transamerica Financial Advisors LLC boosted its stake in Northern Trust by 54.1% during the fourth quarter. Transamerica Financial Advisors LLC now owns 265 shares of the asset manager’s stock worth $36,000 after buying an additional 93 shares in the last quarter. Institutional investors own 83.19% of the company’s stock.

Insider Activity at Northern Trust

In other news, Director Robert Edward Jr. Moritz bought 255 shares of Northern Trust stock in a transaction dated Wednesday, July 29th. The shares were bought at an average price of $179.57 per share, for a total transaction of $45,790.35. Following the purchase, the director owned 8,400 shares of the company’s stock, valued at approximately $1,508,388. This trade represents a 3.13% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.66% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on NTRS shares. Citigroup boosted their price target on shares of Northern Trust from $162.00 to $172.00 and gave the company a “neutral” rating in a report on Tuesday, June 30th. JPMorgan Chase & Co. raised their price objective on shares of Northern Trust from $170.00 to $179.50 and gave the stock a “neutral” rating in a report on Monday, July 6th. Royal Bank Of Canada lowered shares of Northern Trust from an “outperform” rating to a “sector perform” rating and set a $178.00 target price on the stock. in a research report on Wednesday, July 22nd. Wells Fargo & Company upped their target price on shares of Northern Trust from $189.00 to $194.00 and gave the company an “equal weight” rating in a research note on Thursday, July 23rd. Finally, Weiss Ratings raised shares of Northern Trust from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $180.25.

Northern Trust Price Performance

Shares of NTRS stock opened at $182.19 on Friday. The stock’s fifty day simple moving average is $176.30 and its 200 day simple moving average is $159.17. Northern Trust Corporation has a one year low of $121.12 and a one year high of $191.60. The firm has a market cap of $33.71 billion, a price-to-earnings ratio of 15.64, a P/E/G ratio of 1.03 and a beta of 1.25. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.65 and a quick ratio of 0.62.

Northern Trust Increases Dividend

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

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.