Shell Asset Management Co. Cuts Position in Northern Trust Co. (NASDAQ:NTRS)

Posted by Defense World Staff on May 5th, 2023

Shell Asset Management Co. decreased its position in shares of Northern Trust Co. (NASDAQ:NTRS – Get Rating) by 19.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,163 shares of the asset manager’s stock after selling 1,483 shares during the period. Shell Asset Management Co.’s holdings in Northern Trust were worth $545,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in NTRS. Piershale Financial Group Inc. bought a new stake in Northern Trust in the 4th quarter worth approximately $27,000. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Northern Trust by 145.4% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 319 shares of the asset manager’s stock worth $28,000 after acquiring an additional 189 shares during the last quarter. Covestor Ltd boosted its stake in shares of Northern Trust by 64.8% in the 1st quarter. Covestor Ltd now owns 496 shares of the asset manager’s stock valued at $58,000 after purchasing an additional 195 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in Northern Trust in the 2nd quarter worth $51,000. Finally, Dupont Capital Management Corp lifted its stake in Northern Trust by 27.9% in the fourth quarter. Dupont Capital Management Corp now owns 545 shares of the asset manager’s stock worth $48,000 after purchasing an additional 119 shares during the last quarter. Institutional investors own 81.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on NTRS. Deutsche Bank Aktiengesellschaft decreased their price objective on Northern Trust from $84.00 to $80.00 in a report on Wednesday, April 26th. Seaport Res Ptn lowered Northern Trust from a “buy” rating to a “neutral” rating in a research note on Tuesday, April 25th. Evercore ISI cut their target price on shares of Northern Trust from $88.00 to $86.00 and set an “in-line” rating on the stock in a report on Wednesday, April 5th. UBS Group lowered their price target on shares of Northern Trust from $108.00 to $105.00 and set a “buy” rating for the company in a report on Tuesday, April 4th. Finally, StockNews.com started coverage on shares of Northern Trust in a report on Thursday, March 16th. They issued a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Northern Trust has an average rating of “Hold” and an average target price of $97.29.

Insider Buying and Selling at Northern Trust

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

Northern Trust Stock Down 2.2 %

NTRS stock opened at $71.60 on Friday. Northern Trust Co. has a fifty-two week low of $70.63 and a fifty-two week high of $113.15. The company has a market capitalization of $14.92 billion, a price-to-earnings ratio of 12.18 and a beta of 1.07. The business’s 50 day moving average price is $85.88 and its two-hundred day moving average price is $89.31. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.69 and a current ratio of 0.69.

Northern Trust (NASDAQ:NTRS – Get Rating) last issued its quarterly earnings results on Tuesday, April 25th. The asset manager reported $1.51 earnings per share for the quarter, missing the consensus estimate of $1.52 by ($0.01). Northern Trust had a return on equity of 14.30% and a net margin of 14.73%. The firm had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.78 billion. During the same period in the previous year, the company earned $1.77 earnings per share. Northern Trust’s revenue for the quarter was up 1.9% on a year-over-year basis. As a group, analysts forecast that Northern Trust Co. will post 6.39 earnings per share for the current fiscal year.

Northern Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, July 1st. Investors of record on Friday, June 9th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 4.19%. The ex-dividend date of this dividend is Thursday, June 8th. Northern Trust’s payout ratio is currently 51.02%.

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.