Romano Brothers AND Company Trims Position in Northern Trust Co. (NASDAQ:NTRS)

Posted by Defense World Staff on Mar 26th, 2023

Romano Brothers AND Company lessened its stake in Northern Trust Co. (NASDAQ:NTRS – Get Rating) by 16.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,013 shares of the asset manager’s stock after selling 589 shares during the period. Romano Brothers AND Company’s holdings in Northern Trust were worth $267,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Piershale Financial Group Inc. purchased a new position in shares of Northern Trust in the 4th quarter worth approximately $27,000. Massmutual Trust Co. FSB ADV lifted its stake in Northern Trust by 145.4% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 319 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 189 shares during the period. CoreCap Advisors LLC acquired a new stake in Northern Trust during the 2nd quarter valued at approximately $49,000. Hexagon Capital Partners LLC lifted its stake in Northern Trust by 890.0% during the 3rd quarter. Hexagon Capital Partners LLC now owns 594 shares of the asset manager’s stock valued at $51,000 after acquiring an additional 534 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in Northern Trust during the 2nd quarter valued at approximately $51,000. Hedge funds and other institutional investors own 81.44% of the company’s stock.

Northern Trust Stock Up 0.3 %

Shares of NTRS opened at $83.43 on Friday. The stock has a market capitalization of $17.33 billion, a PE ratio of 13.59 and a beta of 1.08. Northern Trust Co. has a 1 year low of $76.15 and a 1 year high of $121.25. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.69 and a current ratio of 0.69. The company’s 50-day simple moving average is $93.17 and its 200-day simple moving average is $90.60.

Northern Trust (NASDAQ:NTRS – Get Rating) last issued its quarterly earnings results on Thursday, January 19th. The asset manager reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.81 by ($1.10). Northern Trust had a return on equity of 14.89% and a net margin of 17.24%. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.75 billion. During the same period in the prior year, the company posted $1.91 EPS. The firm’s revenue for the quarter was down 8.5% compared to the same quarter last year. Analysts forecast that Northern Trust Co. will post 6.83 earnings per share for the current fiscal year.

Northern Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, April 1st. Investors of record on Friday, March 10th will be paid a dividend of $0.75 per share. The ex-dividend date is Thursday, March 9th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.60%. Northern Trust’s payout ratio is 48.86%.

Insider Buying and Selling at Northern Trust

In other Northern Trust news, CFO Jason J. Tyler sold 1,764 shares of the stock in a transaction that occurred on Monday, February 6th. The shares were sold at an average price of $96.98, for a total value of $171,072.72. Following the transaction, the chief financial officer now directly owns 30,470 shares in the company, valued at $2,954,980.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Lauren E. Allnutt sold 559 shares of the firm’s stock in a transaction that occurred on Thursday, March 9th. The shares were sold at an average price of $87.30, for a total transaction of $48,800.70. Following the transaction, the executive vice president now directly owns 5,576 shares in the company, valued at $486,784.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Jason J. Tyler sold 1,764 shares of the stock in a transaction on Monday, February 6th. The stock was sold at an average price of $96.98, for a total value of $171,072.72. Following the sale, the chief financial officer now directly owns 30,470 shares of the company’s stock, valued at $2,954,980.60. The disclosure for this sale can be found here. 0.55% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

NTRS has been the subject of several analyst reports. Barclays boosted their target price on shares of Northern Trust from $105.00 to $118.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 3rd. Wells Fargo & Company dropped their target price on shares of Northern Trust from $121.00 to $115.00 in a report on Tuesday, December 13th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Northern Trust from $95.00 to $90.00 in a report on Friday, January 20th. StockNews.com initiated coverage on shares of Northern Trust in a research report on Thursday, March 16th. They set a “hold” rating on the stock. Finally, The Goldman Sachs Group cut shares of Northern Trust from a “buy” rating to a “neutral” rating and lowered their price target for the company from $97.00 to $95.00 in a research report on Wednesday, January 4th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $100.32.

Northern Trust Profile

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Northern Trust Corp. is a financial holding company, which engages in the provision of asset servicing, fund administration, asset management, fiduciary, and banking solutions for corporations, institutions, families, and individuals. It operates through the following segments: Corporate & Institutional Services and Wealth Management.