American International Group Inc. Has $4.58 Million Stake in Northern Trust Co. (NASDAQ:NTRS)

American International Group Inc. decreased its position in shares of Northern Trust Co. (NASDAQ:NTRS) by 0.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,273 shares of the asset manager’s stock after selling 482 shares during the period. American International Group Inc.’s holdings in Northern Trust were worth $4,580,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. EP Wealth Advisors LLC acquired a new position in shares of Northern Trust during the fourth quarter valued at about $200,000. Speece Thorson Capital Group Inc. raised its position in shares of Northern Trust by 0.6% during the fourth quarter. Speece Thorson Capital Group Inc. now owns 191,829 shares of the asset manager’s stock valued at $16,187,000 after buying an additional 1,188 shares during the last quarter. Sierra Summit Advisors LLC acquired a new position in shares of Northern Trust during the fourth quarter valued at about $316,000. V Square Quantitative Management LLC raised its position in shares of Northern Trust by 112.7% during the fourth quarter. V Square Quantitative Management LLC now owns 9,197 shares of the asset manager’s stock valued at $776,000 after buying an additional 4,873 shares during the last quarter. Finally, Quarry LP acquired a new position in shares of Northern Trust during the fourth quarter valued at about $56,000. Institutional investors and hedge funds own 83.19% of the company’s stock.

Northern Trust Price Performance

Shares of Northern Trust stock opened at $82.76 on Friday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $16.93 billion, a price-to-earnings ratio of 18.27, a P/E/G ratio of 1.16 and a beta of 1.10. Northern Trust Co. has a 1-year low of $62.44 and a 1-year high of $89.25. The firm’s 50-day moving average price is $83.47 and its two-hundred day moving average price is $83.09.

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 the consensus estimate of $1.47 by $0.23. Northern Trust had a net margin of 7.59% and a return on equity of 12.57%. The business had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.79 billion. On average, equities analysts predict that Northern Trust Co. will post 6.88 earnings per share for the current fiscal year.

Northern Trust Announces Dividend

The business 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. 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 dividend payout ratio (DPR) is currently 66.23%.

Analyst Ratings Changes

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

Insider Activity

In other news, 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Northern Trust news, insider Peter Cherecwich sold 12,000 shares of the firm’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 value of $1,045,080.00. Following the transaction, the insider now directly owns 31,471 shares of the company’s stock, valued at $2,740,809.39. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Steven L. Fradkin sold 4,097 shares of the firm’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 transaction of $338,248.32. Following the completion of the transaction, the insider now directly owns 46,078 shares in the company, valued at $3,804,199.68. The disclosure for this sale can be found here. 0.64% of the stock is owned by insiders.

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.