Northern Trust Co. (NASDAQ:NTRS) Position Reduced by Virtu Financial LLC

Virtu Financial LLC trimmed its position in Northern Trust Co. (NASDAQ:NTRS) by 25.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 5,283 shares of the asset manager’s stock after selling 1,766 shares during the period. Virtu Financial LLC’s holdings in Northern Trust were worth $446,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in NTRS. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Northern Trust in the third quarter worth about $322,000. Envestnet Asset Management Inc. boosted its holdings in shares of Northern Trust by 129.2% in the third quarter. Envestnet Asset Management Inc. now owns 207,086 shares of the asset manager’s stock worth $14,388,000 after buying an additional 116,727 shares during the period. Nordea Investment Management AB boosted its holdings in shares of Northern Trust by 2.4% in the third quarter. Nordea Investment Management AB now owns 12,962 shares of the asset manager’s stock worth $907,000 after buying an additional 305 shares during the period. WINTON GROUP Ltd acquired a new position in shares of Northern Trust in the third quarter worth about $345,000. Finally, Rathbones Group PLC boosted its holdings in shares of Northern Trust by 938.4% in the third quarter. Rathbones Group PLC now owns 157,822 shares of the asset manager’s stock worth $10,965,000 after buying an additional 142,624 shares during the period. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Northern Trust

In other news, insider Steven L. Fradkin sold 4,097 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $82.56, for a total value of $338,248.32. Following the sale, the insider now owns 46,078 shares in the company, valued at $3,804,199.68. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Peter Cherecwich sold 12,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $87.09, for a total transaction of $1,045,080.00. Following the completion of the sale, the insider now directly owns 31,471 shares of the company’s stock, valued at $2,740,809.39. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Steven L. Fradkin sold 4,097 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $82.56, for a total transaction of $338,248.32. Following the sale, the insider now directly owns 46,078 shares of the company’s stock, valued at $3,804,199.68. The disclosure for this sale can be found here. 0.64% of the stock is currently owned by corporate insiders.

Northern Trust Trading Up 1.0 %

NASDAQ:NTRS opened at $82.90 on Wednesday. Northern Trust Co. has a 12 month low of $62.44 and a 12 month high of $89.25. The firm has a market cap of $16.96 billion, a price-to-earnings ratio of 18.30, a P/E/G ratio of 1.16 and a beta of 1.10. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.61. The company’s 50 day moving average is $83.60 and its 200-day moving average is $83.07.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings results on Tuesday, April 16th. The asset manager reported $1.70 EPS for the quarter, beating analysts’ consensus estimates of $1.47 by $0.23. Northern Trust had a net margin of 7.59% and a return on equity of 12.57%. The company had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.79 billion. Equities analysts anticipate that Northern Trust Co. will post 6.85 EPS for the current year.

Northern Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 7th will be paid a $0.75 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $3.00 annualized dividend and a dividend yield of 3.62%. Northern Trust’s payout ratio is 66.23%.

Wall Street Analysts Forecast Growth

NTRS has been the subject of several research reports. Evercore ISI raised their price target on shares of Northern Trust from $86.00 to $87.00 and gave the stock an “in-line” rating in a report on Thursday, April 4th. Bank of America raised their price target on shares of Northern Trust from $93.00 to $101.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Finally, Jefferies Financial Group raised their price target on shares of Northern Trust from $101.00 to $103.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $85.82.

About Northern Trust

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.