Claro Advisors LLC Sells 1,881 Shares of Northern Trust Co. (NASDAQ:NTRS)

Claro Advisors LLC lowered its stake in Northern Trust Co. (NASDAQ:NTRS) by 19.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,874 shares of the asset manager’s stock after selling 1,881 shares during the period. Claro Advisors LLC’s holdings in Northern Trust were worth $807,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. FMR LLC boosted its holdings in Northern Trust by 9.3% in the third quarter. FMR LLC now owns 18,187,663 shares of the asset manager’s stock valued at $1,637,435,000 after acquiring an additional 1,542,685 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Northern Trust by 13.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 7,413,620 shares of the asset manager’s stock valued at $622,596,000 after acquiring an additional 850,556 shares in the last quarter. Primecap Management Co. CA boosted its holdings in Northern Trust by 0.5% in the third quarter. Primecap Management Co. CA now owns 7,085,117 shares of the asset manager’s stock valued at $637,873,000 after acquiring an additional 38,360 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Northern Trust by 9.9% in the third quarter. JPMorgan Chase & Co. now owns 4,296,442 shares of the asset manager’s stock valued at $386,809,000 after acquiring an additional 388,692 shares in the last quarter. Finally, Ariel Investments LLC boosted its holdings in Northern Trust by 3.6% in the second quarter. Ariel Investments LLC now owns 2,644,205 shares of the asset manager’s stock valued at $222,060,000 after acquiring an additional 91,816 shares in the last quarter. Institutional investors own 83.19% of the company’s stock.

Insiders Place Their Bets

In other news, insider Teresa Parker sold 4,439 shares of the company’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $100.86, for a total transaction of $447,717.54. Following the completion of the sale, the insider now owns 79,326 shares of the company’s stock, valued at $8,000,820.36. This represents a 5.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Vice Chairman Steven L. Fradkin sold 27,874 shares of the company’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $100.50, for a total transaction of $2,801,337.00. Following the sale, the insider now directly owns 46,078 shares of the company’s stock, valued at $4,630,839. The trade was a 37.69 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 82,151 shares of company stock valued at $8,489,889. 0.64% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Northern Trust from $100.00 to $108.00 and gave the company a “hold” rating in a report on Monday, November 11th. StockNews.com upgraded shares of Northern Trust from a “hold” rating to a “buy” rating in a report on Tuesday, December 10th. Truist Financial assumed coverage on shares of Northern Trust in a report on Tuesday, January 7th. They set a “hold” rating and a $110.00 target price on the stock. Morgan Stanley dropped their target price on shares of Northern Trust from $127.00 to $125.00 and set an “equal weight” rating on the stock in a report on Friday, January 3rd. Finally, The Goldman Sachs Group cut shares of Northern Trust from a “neutral” rating to a “sell” rating and dropped their target price for the company from $84.00 to $82.00 in a report on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Northern Trust has a consensus rating of “Hold” and an average target price of $107.17.

Northern Trust Price Performance

Shares of NASDAQ:NTRS opened at $100.32 on Tuesday. Northern Trust Co. has a fifty-two week low of $76.67 and a fifty-two week high of $111.87. The business has a 50-day simple moving average of $105.67 and a two-hundred day simple moving average of $95.30. 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 $19.89 billion, a price-to-earnings ratio of 12.48, a price-to-earnings-growth ratio of 1.18 and a beta of 1.08.

Northern Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 1st. Shareholders of record on Friday, December 6th were given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date of this dividend was Friday, December 6th. Northern Trust’s dividend payout ratio (DPR) is 37.31%.

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.