Northern Trust Co. (NASDAQ:NTRS) Shares Sold by Price T Rowe Associates Inc. MD (2024)

Price T Rowe Associates Inc. MD reduced its stake in shares of Northern Trust Co. (NASDAQ:NTRS – Free Report) by 3.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 332,211 shares of the asset manager’s stock after selling 13,302 shares during the period. Price T Rowe Associates Inc. MD owned 0.16% of Northern Trust worth $29,541,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Raymond James Financial Services Advisors Inc. grew its stake in shares of Northern Trust by 59.2% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 11,996 shares of the asset manager’s stock valued at $1,012,000 after buying an additional 4,460 shares during the period. Fifth Third Bancorp raised its holdings in shares of Northern Trust by 10.8% in the 4th quarter. Fifth Third Bancorp now owns 10,359 shares of the asset manager’s stock worth $874,000 after purchasing an additional 1,013 shares during the period. Independence Bank of Kentucky grew its holdings in shares of Northern Trust by 342.9% during the 4th quarter. Independence Bank of Kentucky now owns 775 shares of the asset manager’s stock worth $65,000 after purchasing an additional 600 shares during the period. Ballentine Partners LLC acquired a new stake in Northern Trust during the 4th quarter worth approximately $272,000. Finally, Park Place Capital Corp purchased a new position in Northern Trust in the fourth quarter valued at approximately $57,000. 83.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. The Goldman Sachs Group cut their target price on shares of Northern Trust from $94.00 to $84.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 2nd. Keefe, Bruyette & Woods dropped their target price on Northern Trust from $92.00 to $85.00 and set a “market perform” rating on the stock in a report on Thursday, June 27th. Evercore ISI upped their price target on Northern Trust from $86.00 to $87.00 and gave the stock an “in-line” rating in a report on Thursday, April 4th. Morgan Stanley dropped their price target on shares of Northern Trust from $97.00 to $93.00 and set an “underweight” rating on the stock in a research note on Tuesday. Finally, Royal Bank of Canada raised their target price on Northern Trust from $86.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $87.33.

Get Our Latest Stock Analysis on NTRS

Northern Trust Stock Performance

Shares of NASDAQ NTRS opened at $86.89 on Friday. The business’s 50-day simple moving average is $84.57 and its 200-day simple moving average is $83.59. Northern Trust Co. has a 52 week low of $62.44 and a 52 week high of $92.46. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71. The firm has a market cap of $17.78 billion, a price-to-earnings ratio of 19.18, a P/E/G ratio of 1.32 and a beta of 1.10.

Northern Trust (NASDAQ:NTRS – Get Free Report) last announced its quarterly earnings results on Wednesday, July 17th. The asset manager reported $1.78 EPS for the quarter, beating the consensus estimate of $1.75 by $0.03. Northern Trust had a return on equity of 12.24% and a net margin of 10.53%. The company had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter last year, the company posted $1.79 earnings per share. The company’s revenue for the quarter was up 53.8% compared to the same quarter last year. As a group, equities research analysts expect that Northern Trust Co. will post 7.02 earnings per share for the current fiscal year.

Northern Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 6th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 3.45%. The ex-dividend date is Friday, September 6th. Northern Trust’s payout ratio is currently 66.23%.

Insider Activity

In other Northern Trust news, insider Peter Cherecwich sold 12,000 shares of the firm’s stock in a transaction dated 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 transaction, the insider now owns 31,471 shares in the company, valued at $2,740,809.39. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.64% of the stock is owned by company insiders.

Northern Trust Company 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.

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