Janney Montgomery Scott LLC Lowers Position in Northern Trust Co. (NASDAQ:NTRS)

Janney Montgomery Scott LLC trimmed its stake in Northern Trust Co. (NASDAQ:NTRS) by 52.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,321 shares of the asset manager’s stock after selling 2,521 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Northern Trust were worth $238,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of NTRS. Allworth Financial LP grew its position in shares of Northern Trust by 9.1% during the third quarter. Allworth Financial LP now owns 1,170 shares of the asset manager’s stock worth $105,000 after buying an additional 98 shares in the last quarter. Ballentine Partners LLC grew its position in shares of Northern Trust by 4.4% during the fourth quarter. Ballentine Partners LLC now owns 2,483 shares of the asset manager’s stock worth $255,000 after buying an additional 105 shares in the last quarter. Pallas Capital Advisors LLC grew its position in shares of Northern Trust by 1.8% during the fourth quarter. Pallas Capital Advisors LLC now owns 6,091 shares of the asset manager’s stock worth $624,000 after buying an additional 107 shares in the last quarter. Mesirow Financial Investment Management Inc. grew its position in shares of Northern Trust by 0.4% during the third quarter. Mesirow Financial Investment Management Inc. now owns 35,673 shares of the asset manager’s stock worth $3,212,000 after buying an additional 127 shares in the last quarter. Finally, Brooklyn Investment Group grew its position in shares of Northern Trust by 51.2% during the fourth quarter. Brooklyn Investment Group now owns 378 shares of the asset manager’s stock worth $39,000 after buying an additional 128 shares in the last quarter. 83.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on NTRS. Truist Financial lifted their price objective on shares of Northern Trust from $110.00 to $116.00 and gave the stock a “hold” rating in a report on Friday, January 24th. UBS Group raised their target price on Northern Trust from $110.00 to $114.00 and gave the company a “neutral” rating in a research note on Monday, January 27th. Keefe, Bruyette & Woods raised their target price on Northern Trust from $113.00 to $122.00 and gave the company a “market perform” rating in a research note on Friday, January 24th. Barclays raised their target price on Northern Trust from $115.00 to $118.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Finally, Evercore ISI lifted their price objective on shares of Northern Trust from $86.00 to $103.00 and gave the company an “in-line” rating in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Northern Trust currently has a consensus rating of “Hold” and a consensus target price of $112.58.

Northern Trust Price Performance

NASDAQ:NTRS opened at $110.10 on Thursday. The business’s 50-day moving average price is $106.48 and its 200 day moving average price is $98.82. The firm has a market cap of $21.82 billion, a P/E ratio of 11.26, a PEG ratio of 1.74 and a beta of 1.08. Northern Trust Co. has a 52-week low of $76.67 and a 52-week high of $114.67. The company has a quick ratio of 0.71, a current ratio of 0.68 and a debt-to-equity ratio of 0.58.

Northern Trust (NASDAQ:NTRS) last released its earnings results on Thursday, January 23rd. The asset manager reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.96 by $0.30. Northern Trust had a return on equity of 13.74% and a net margin of 12.77%. As a group, sell-side analysts predict that Northern Trust Co. will post 8.2 earnings per share for the current fiscal year.

Northern Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a $0.75 dividend. The ex-dividend date is Friday, March 14th. This represents a $3.00 dividend on an annualized basis and a yield of 2.72%. Northern Trust’s dividend payout ratio is currently 30.67%.

Insider Buying and Selling

In other Northern Trust news, Vice Chairman Steven L. Fradkin sold 9,100 shares of Northern Trust stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $111.00, for a total transaction of $1,010,100.00. Following the transaction, the insider now owns 47,797 shares of the company’s stock, valued at $5,305,467. The trade was a 15.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jason J. Tyler sold 2,237 shares of Northern Trust stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $112.67, for a total value of $252,042.79. Following the transaction, the insider now directly owns 58,449 shares in the company, valued at approximately $6,585,448.83. This trade represents a 3.69 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 40,631 shares of company stock valued at $4,550,459. 0.64% of the stock is owned by corporate 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.