OLD Republic International Corp Sells 7,000 Shares of Northern Trust Co. (NASDAQ:NTRS)

OLD Republic International Corp cut its position in shares of Northern Trust Co. (NASDAQ:NTRS) by 4.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 160,500 shares of the asset manager’s stock after selling 7,000 shares during the period. OLD Republic International Corp’s holdings in Northern Trust were worth $13,543,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fortitude Family Office LLC bought a new stake in shares of Northern Trust in the 4th quarter worth about $28,000. Allworth Financial LP increased its holdings in shares of Northern Trust by 94.1% during the fourth quarter. Allworth Financial LP now owns 359 shares of the asset manager’s stock worth $30,000 after buying an additional 174 shares in the last quarter. Quent Capital LLC raised its stake in shares of Northern Trust by 77.8% in the fourth quarter. Quent Capital LLC now owns 361 shares of the asset manager’s stock valued at $30,000 after acquiring an additional 158 shares during the last quarter. Friedenthal Financial acquired a new position in shares of Northern Trust in the 4th quarter worth approximately $45,000. Finally, Bruce G. Allen Investments LLC bought a new stake in Northern Trust during the 4th quarter worth approximately $45,000. 83.19% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Northern Trust news, insider Steven L. Fradkin sold 4,097 shares of Northern Trust 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 of the company’s stock, valued at $3,804,199.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Steven L. Fradkin sold 30,392 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $80.11, for a total value of $2,434,703.12. Following the completion of the transaction, the insider now owns 55,707 shares in the company, valued at approximately $4,462,687.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Steven L. Fradkin sold 4,097 shares of the 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 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. Corporate insiders own 0.64% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on NTRS shares. Royal Bank of Canada boosted their price objective on Northern Trust from $82.00 to $86.00 and gave the stock an “outperform” rating in a research note on Friday, January 19th. Evercore ISI raised 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 report on Thursday, April 4th. TheStreet raised shares of Northern Trust from a “c+” rating to a “b-” rating in a research note on Friday, January 12th. Morgan Stanley reissued an “underweight” rating and issued a $86.00 price target (up previously from $82.00) on shares of Northern Trust in a report on Tuesday, January 30th. Finally, Jefferies Financial Group boosted their price objective on shares of Northern Trust from $101.00 to $103.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $84.92.

Northern Trust Trading Up 0.4 %

NASDAQ:NTRS traded up $0.36 during mid-day trading on Friday, hitting $87.14. The company had a trading volume of 223,364 shares, compared to its average volume of 1,444,783. The firm has a market cap of $17.83 billion, a P/E ratio of 19.16, a P/E/G ratio of 1.21 and a beta of 1.13. Northern Trust Co. has a fifty-two week low of $62.44 and a fifty-two week high of $89.25. The business’s fifty day moving average is $84.21 and its two-hundred day moving average is $80.54. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.71.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings results on Tuesday, April 16th. The asset manager reported $1.70 earnings per share for the quarter, beating analysts’ consensus estimates of $1.47 by $0.23. The business had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.79 billion. Northern Trust had a net margin of 7.59% and a return on equity of 12.57%. As a group, research analysts expect that Northern Trust Co. will post 6.86 earnings per share for the current year.

Northern Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors 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 yield of 3.44%. The ex-dividend date is Friday, June 7th. Northern Trust’s payout ratio is presently 66.23%.

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.