Fifth Third Bancorp Has $1.48 Million Stake in Northern Trust Co. (NASDAQ:NTRS)

Posted by on Apr 8th, 2023

Fifth Third Bancorp reduced its stake in Northern Trust Co. (NASDAQ:NTRS – Get Rating) by 7.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,748 shares of the asset manager’s stock after selling 1,329 shares during the period. Fifth Third Bancorp’s holdings in Northern Trust were worth $1,482,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in NTRS. Goldman Sachs Group Inc. lifted its stake in Northern Trust by 48.7% during the second quarter. Goldman Sachs Group Inc. now owns 4,612,225 shares of the asset manager’s stock worth $444,986,000 after purchasing an additional 1,510,570 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Northern Trust by 51.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,457,214 shares of the asset manager’s stock worth $295,798,000 after purchasing an additional 1,174,377 shares during the last quarter. Eaton Vance Management lifted its stake in shares of Northern Trust by 1,080.5% in the 1st quarter. Eaton Vance Management now owns 600,908 shares of the asset manager’s stock valued at $69,974,000 after acquiring an additional 550,006 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Northern Trust by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 22,711,584 shares of the asset manager’s stock valued at $2,644,763,000 after acquiring an additional 457,748 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in shares of Northern Trust by 1,568.6% in the 2nd quarter. Millennium Management LLC now owns 376,367 shares of the asset manager’s stock valued at $36,312,000 after acquiring an additional 353,811 shares during the last quarter. 81.44% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Jason J. Tyler sold 1,764 shares of the stock in a transaction dated Monday, February 6th. The stock was sold at an average price of $96.98, for a total transaction of $171,072.72. Following the completion of the sale, the chief financial officer now owns 30,470 shares in the company, valued at $2,954,980.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Jason J. Tyler sold 1,764 shares of Northern Trust stock in a transaction dated 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Lauren E. Allnutt sold 559 shares of the stock in a transaction that occurred on Thursday, March 9th. The shares were sold at an average price of $87.30, for a total value of $48,800.70. Following the transaction, the executive vice president now directly owns 5,576 shares of the company’s stock, valued at $486,784.80. The disclosure for this sale can be found here. 0.63% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on NTRS shares. Morgan Stanley increased their price objective on Northern Trust from $97.00 to $101.00 and gave the company an “equal weight” rating in a report on Wednesday, February 1st. UBS Group decreased their price target on Northern Trust from $108.00 to $105.00 and set a “buy” rating for the company in a report on Tuesday. StockNews.com started coverage on shares of Northern Trust in a research report on Thursday, March 16th. They set a “hold” rating on the stock. Barclays increased their price objective on shares of Northern Trust from $105.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 3rd. Finally, The Goldman Sachs Group downgraded Northern Trust from a “buy” rating to a “neutral” rating and cut their price target for the company from $97.00 to $95.00 in a research note on Wednesday, January 4th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $100.79.

Northern Trust Price Performance

Shares of NASDAQ NTRS opened at $86.73 on Friday. Northern Trust Co. has a fifty-two week low of $76.15 and a fifty-two week high of $116.58. The company has a 50 day simple moving average of $91.35 and a two-hundred day simple moving average of $89.98. The company has a market capitalization of $18.02 billion, a price-to-earnings ratio of 14.13 and a beta of 1.07. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.69 and a current ratio of 0.69.

Northern Trust (NASDAQ:NTRS – Get Rating) last posted its quarterly earnings results on Thursday, January 19th. The asset manager reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $1.81 by ($1.10). Northern Trust had a net margin of 17.24% and a return on equity of 14.89%. The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.75 billion. During the same quarter in the previous year, the company earned $1.91 EPS. The company’s quarterly revenue was down 8.5% compared to the same quarter last year. Analysts expect that Northern Trust Co. will post 6.92 EPS for the current fiscal year.

Northern Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Saturday, April 1st. Investors of record on Friday, March 10th were paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date of this dividend was Thursday, March 9th. Northern Trust’s dividend payout ratio (DPR) is 48.86%.

About Northern Trust

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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.

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Institutional Ownership by Quarter for Northern Trust (NASDAQ:NTRS)

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