Northern Trust Co. (NASDAQ:NTRS) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

Posted by Defense World Staff on Jul 19th, 2023

Sumitomo Mitsui Trust Holdings Inc. lessened its stake in shares of Northern Trust Co. (NASDAQ:NTRS – Free Report) by 29.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 590,052 shares of the asset manager’s stock after selling 249,508 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.28% of Northern Trust worth $52,001,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Piershale Financial Group Inc. acquired a new position in Northern Trust in the fourth quarter worth approximately $27,000. Massmutual Trust Co. FSB ADV grew its position in Northern Trust by 145.4% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 319 shares of the asset manager’s stock worth $28,000 after buying an additional 189 shares during the last quarter. CoreCap Advisors LLC acquired a new position in Northern Trust in the fourth quarter worth approximately $45,000. Dupont Capital Management Corp grew its position 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 buying an additional 119 shares during the last quarter. Finally, CI Investments Inc. grew its position in Northern Trust by 110.5% in the fourth quarter. CI Investments Inc. now owns 560 shares of the asset manager’s stock worth $50,000 after buying an additional 294 shares during the last quarter. Institutional investors and hedge funds own 81.90% of the company’s stock.

Northern Trust Trading Up 1.7 %

Shares of NASDAQ:NTRS opened at $71.70 on Wednesday. The firm has a fifty day moving average of $73.16 and a two-hundred day moving average of $83.84. The firm has a market capitalization of $14.94 billion, a P/E ratio of 12.19 and a beta of 1.07. Northern Trust Co. has a 12-month low of $69.54 and a 12-month high of $104.57. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.45.

Northern Trust (NASDAQ:NTRS – Get Free Report) last issued its earnings results on Tuesday, April 25th. The asset manager reported $1.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.01). The company had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.78 billion. Northern Trust had a net margin of 14.73% and a return on equity of 14.30%. The company’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period last year, the business earned $1.77 EPS. On average, equities analysts expect that Northern Trust Co. will post 6.28 EPS for the current fiscal year.

Northern Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Friday, September 8th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 4.18%. Northern Trust’s payout ratio is presently 51.02%.

Analysts Set New Price Targets

Several research firms have issued reports on NTRS. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Northern Trust from $84.00 to $80.00 in a research report on Wednesday, April 26th. Citigroup lowered their price objective on shares of Northern Trust from $78.00 to $75.00 in a research report on Tuesday, June 13th. Royal Bank of Canada lowered their price objective on shares of Northern Trust from $87.00 to $77.00 in a research report on Wednesday, April 26th. Seaport Res Ptn cut shares of Northern Trust from a “buy” rating to a “neutral” rating in a research report on Tuesday, April 25th. Finally, Evercore ISI lowered their price objective on shares of Northern Trust from $88.00 to $86.00 and set an “in-line” rating on the stock in a research report on Wednesday, April 5th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $90.77.

Northern Trust Profile

(Free Report)

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.