PNC Financial Services Group Inc. Has $12.59 Million Stock Position in Northern Trust Co. (NASDAQ:NTRS)

PNC Financial Services Group Inc. cut its holdings in Northern Trust Co. (NASDAQ:NTRS) by 5.0% during the 4th quarter, HoldingsChannel reports. The fund owned 149,211 shares of the asset manager’s stock after selling 7,899 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Northern Trust were worth $12,590,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Spartan Planning & Wealth Management lifted its position in shares of Northern Trust by 10,566.7% during the 4th quarter. Spartan Planning & Wealth Management now owns 320 shares of the asset manager’s stock valued at $27,000 after acquiring an additional 317 shares during the period. Fortitude Family Office LLC acquired a new stake in Northern Trust during the fourth quarter worth about $28,000. Allworth Financial LP increased its holdings in Northern Trust by 94.1% in the 4th quarter. Allworth Financial LP now owns 359 shares of the asset manager’s stock valued at $30,000 after buying an additional 174 shares during the period. Quent Capital LLC raised its position in shares of Northern Trust by 77.8% in the 4th quarter. Quent Capital LLC now owns 361 shares of the asset manager’s stock valued at $30,000 after buying an additional 158 shares in the last quarter. Finally, Friedenthal Financial bought a new stake in shares of Northern Trust during the 4th quarter worth approximately $45,000. 83.19% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

NTRS has been the topic of a number of recent analyst reports. Evercore ISI lifted their price objective on shares of Northern Trust from $86.00 to $87.00 and gave the company an “in-line” rating in a research note on Thursday, April 4th. Bank of America boosted their price target on 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 upped their price objective on Northern Trust from $101.00 to $103.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $85.82.

Northern Trust Trading Up 1.0 %

Shares of NTRS stock opened at $82.90 on Wednesday. Northern Trust Co. has a twelve month low of $62.44 and a twelve month high of $89.25. The stock’s fifty day simple moving average is $83.60 and its 200 day simple moving average is $83.07. 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 firm has a market capitalization of $16.96 billion, a P/E ratio of 18.30, a P/E/G ratio of 1.17 and a beta of 1.10.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings results on Tuesday, April 16th. The asset manager reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.23. The company had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.79 billion. Northern Trust had a return on equity of 12.57% and a net margin of 7.59%. As a group, sell-side analysts predict that Northern Trust Co. will post 6.85 EPS for the current fiscal year.

Northern Trust Announces Dividend

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

Insider Buying and Selling

In related news, insider Steven L. Fradkin sold 4,097 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now directly owns 46,078 shares of the company’s stock, valued at approximately $3,804,199.68. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Steven L. Fradkin sold 4,097 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now owns 46,078 shares in the company, valued at approximately $3,804,199.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Peter Cherecwich sold 12,000 shares of the company’s stock in a transaction 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 in the company, valued at $2,740,809.39. The disclosure for this sale can be found here. 0.64% of the stock is currently owned by insiders.

Northern Trust Profile

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.