Metropolitan Life Insurance Co. NY Cuts Stake in Northern Trust Co. (NTRS)

Metropolitan Life Insurance Co. NY decreased its position in shares of Northern Trust Co. (NASDAQ:NTRS) by 67.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 32,774 shares of the asset manager’s stock after selling 68,605 shares during the quarter. Metropolitan Life Insurance Co. NY’s holdings in Northern Trust were worth $3,274,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Raymond James Trust N.A. grew its stake in shares of Northern Trust by 15.9% during the 4th quarter. Raymond James Trust N.A. now owns 3,629 shares of the asset manager’s stock worth $362,000 after acquiring an additional 498 shares during the period. Steward Partners Investment Advisory LLC boosted its stake in Northern Trust by 18.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,232 shares of the asset manager’s stock worth $322,000 after purchasing an additional 500 shares during the period. OLD National Bancorp IN boosted its stake in Northern Trust by 7.7% in the 4th quarter. OLD National Bancorp IN now owns 7,010 shares of the asset manager’s stock worth $701,000 after purchasing an additional 500 shares during the period. Standard Life Aberdeen plc boosted its stake in Northern Trust by 0.9% in the 4th quarter. Standard Life Aberdeen plc now owns 56,584 shares of the asset manager’s stock worth $5,653,000 after purchasing an additional 515 shares during the period. Finally, Cornerstone Advisors Inc. boosted its stake in Northern Trust by 30.6% in the 4th quarter. Cornerstone Advisors Inc. now owns 2,324 shares of the asset manager’s stock worth $232,000 after purchasing an additional 545 shares during the period. Institutional investors own 79.74% of the company’s stock.

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In other Northern Trust news, EVP Wilson Leech sold 8,958 shares of the firm’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $106.17, for a total value of $951,070.86. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Aileen B. Blake sold 3,000 shares of the firm’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $105.32, for a total value of $315,960.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 189,457 shares of company stock worth $20,188,250. Insiders own 1.04% of the company’s stock.

NTRS has been the subject of several analyst reports. Zacks Investment Research upgraded Northern Trust from a “hold” rating to a “buy” rating and set a $110.00 target price for the company in a research note on Tuesday, December 19th. Wells Fargo set a $105.00 target price on Northern Trust and gave the stock a “hold” rating in a research note on Wednesday, December 20th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $110.00 target price on shares of Northern Trust in a research note on Friday, December 22nd. Barclays raised their target price on Northern Trust from $102.00 to $114.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 2nd. Finally, Sandler O’Neill restated a “hold” rating and issued a $105.00 target price on shares of Northern Trust in a research note on Wednesday, January 10th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the company. Northern Trust presently has a consensus rating of “Hold” and an average price target of $104.81.

Shares of NTRS stock opened at $106.35 on Wednesday. Northern Trust Co. has a 1-year low of $83.17 and a 1-year high of $110.81. The firm has a market capitalization of $24,074.09, a PE ratio of 22.14, a price-to-earnings-growth ratio of 1.40 and a beta of 0.95. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.35.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings results on Wednesday, January 24th. The asset manager reported $1.35 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.05. Northern Trust had a return on equity of 12.77% and a net margin of 20.98%. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter last year, the firm posted $1.11 EPS. The company’s revenue was up 15.6% compared to the same quarter last year. equities research analysts forecast that Northern Trust Co. will post 6.1 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Sunday, April 1st. Shareholders of record on Friday, March 9th will be issued a $0.42 dividend. The ex-dividend date is Thursday, March 8th. This represents a $1.68 annualized dividend and a dividend yield of 1.58%. Northern Trust’s payout ratio is currently 34.15%.

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Northern Trust Profile

Northern Trust Corporation is a financial holding company. The Company provides asset servicing, fund administration, asset management, fiduciary and banking solutions for corporations, institutions, families and individuals across the world. Its segments include Corporate & Institutional Services (C&IS), Wealth Management, and Treasury and Other.

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Institutional Ownership by Quarter for Northern Trust (NASDAQ:NTRS)

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