Triangle Securities Wealth Management Sells 207 Shares of Northern Trust Co. (NASDAQ:NTRS)

Triangle Securities Wealth Management trimmed its position in shares of Northern Trust Co. (NASDAQ:NTRS) by 3.6% during the 1st quarter, HoldingsChannel.com reports. The firm owned 5,482 shares of the asset manager’s stock after selling 207 shares during the quarter. Triangle Securities Wealth Management’s holdings in Northern Trust were worth $541,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Ellevest Inc. grew its holdings in Northern Trust by 3.4% during the 4th quarter. Ellevest Inc. now owns 3,410 shares of the asset manager’s stock valued at $350,000 after purchasing an additional 113 shares during the last quarter. Bradley Foster & Sargent Inc. CT grew its holdings in Northern Trust by 2.4% during the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 4,774 shares of the asset manager’s stock valued at $489,000 after purchasing an additional 114 shares during the last quarter. Y.D. More Investments Ltd grew its holdings in Northern Trust by 118.4% during the 4th quarter. Y.D. More Investments Ltd now owns 249 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 135 shares during the last quarter. Moors & Cabot Inc. boosted its position in Northern Trust by 4.0% in the 4th quarter. Moors & Cabot Inc. now owns 3,560 shares of the asset manager’s stock valued at $365,000 after buying an additional 137 shares during the period. Finally, Steward Partners Investment Advisory LLC boosted its position in Northern Trust by 29.8% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 597 shares of the asset manager’s stock valued at $61,000 after buying an additional 137 shares during the period. 83.19% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

NTRS has been the subject of several research reports. Citigroup lowered their price objective on shares of Northern Trust from $110.00 to $105.00 and set a “neutral” rating for the company in a research report on Monday, March 24th. Wall Street Zen cut shares of Northern Trust from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Royal Bank of Canada lowered their price objective on shares of Northern Trust from $115.00 to $105.00 and set an “outperform” rating for the company in a research report on Wednesday, April 23rd. Truist Financial lowered their price objective on shares of Northern Trust from $98.00 to $92.00 and set a “hold” rating for the company in a research report on Wednesday, April 23rd. Finally, Morgan Stanley boosted their price objective on shares of Northern Trust from $101.00 to $103.00 and gave the company an “underweight” rating in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $108.42.

Insider Activity at Northern Trust

In other Northern Trust news, EVP Clive Bellows sold 3,300 shares of the firm’s stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $99.95, for a total value of $329,835.00. Following the completion of the transaction, the executive vice president now owns 28,736 shares of the company’s stock, valued at approximately $2,872,163.20. This trade represents a 10.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Teresa Parker sold 6,467 shares of the firm’s stock in a transaction on Friday, May 9th. The stock was sold at an average price of $100.62, for a total transaction of $650,709.54. Following the completion of the transaction, the insider now directly owns 79,391 shares of the company’s stock, valued at approximately $7,988,322.42. This represents a 7.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,772 shares of company stock valued at $981,069 over the last 90 days. Insiders own 0.77% of the company’s stock.

Northern Trust Trading Down 0.9%

NASDAQ:NTRS opened at $106.10 on Thursday. Northern Trust Co. has a 52 week low of $79.68 and a 52 week high of $114.67. The firm has a 50 day moving average of $97.42 and a 200 day moving average of $103.28. The company has a quick ratio of 0.71, a current ratio of 0.68 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $20.64 billion, a price-to-earnings ratio of 10.85, a PEG ratio of 1.72 and a beta of 1.22.

Northern Trust (NASDAQ:NTRS) last posted its earnings results on Tuesday, April 22nd. The asset manager reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.05. Northern Trust had a net margin of 12.77% and a return on equity of 13.74%. The company had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.95 billion. As a group, sell-side analysts anticipate that Northern Trust Co. will post 8.27 earnings per share for the current fiscal year.

Northern Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 6th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.00 dividend on an annualized basis and a yield of 2.83%. Northern Trust’s payout ratio is 27.99%.

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.