Hudson Bay Capital Management LP Sells 27,472 Shares of Northern Trust Corporation $NTRS

Hudson Bay Capital Management LP lessened its stake in Northern Trust Corporation (NASDAQ:NTRS) by 27.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 73,026 shares of the asset manager’s stock after selling 27,472 shares during the period. Hudson Bay Capital Management LP’s holdings in Northern Trust were worth $9,829,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. New Age Alpha Advisors LLC raised its holdings in Northern Trust by 4.9% in the 3rd quarter. New Age Alpha Advisors LLC now owns 1,659 shares of the asset manager’s stock valued at $223,000 after acquiring an additional 78 shares in the last quarter. Salomon & Ludwin LLC grew its holdings in shares of Northern Trust by 13.1% during the 3rd quarter. Salomon & Ludwin LLC now owns 682 shares of the asset manager’s stock worth $90,000 after purchasing an additional 79 shares in the last quarter. Compound Planning Inc. increased its position in shares of Northern Trust by 5.1% during the third quarter. Compound Planning Inc. now owns 1,666 shares of the asset manager’s stock valued at $224,000 after purchasing an additional 81 shares during the period. NorthRock Partners LLC increased its position in shares of Northern Trust by 2.2% during the third quarter. NorthRock Partners LLC now owns 3,812 shares of the asset manager’s stock valued at $513,000 after purchasing an additional 83 shares during the period. Finally, HighPoint Advisor Group LLC raised its stake in shares of Northern Trust by 2.3% in the third quarter. HighPoint Advisor Group LLC now owns 3,717 shares of the asset manager’s stock valued at $500,000 after purchasing an additional 84 shares in the last quarter. 83.19% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on NTRS. Royal Bank Of Canada lifted their price target on shares of Northern Trust from $139.00 to $159.00 and gave the stock an “outperform” rating in a research note on Friday, January 23rd. The Goldman Sachs Group raised their price objective on shares of Northern Trust from $130.00 to $148.00 and gave the stock a “sell” rating in a report on Wednesday, January 28th. Evercore upped their target price on shares of Northern Trust from $142.00 to $155.00 and gave the company an “in-line” rating in a research note on Friday, January 23rd. Barclays raised their price target on shares of Northern Trust from $136.00 to $160.00 and gave the stock an “equal weight” rating in a research note on Monday, January 5th. Finally, Morgan Stanley upped their price objective on Northern Trust from $131.00 to $140.00 and gave the company an “underweight” rating in a research note on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $148.75.

Insider Activity at Northern Trust

In related news, insider Guy Gibson sold 3,009 shares of the business’s stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $142.39, for a total value of $428,451.51. Following the completion of the transaction, the insider owned 29,332 shares in the company, valued at $4,176,583.48. The trade was a 9.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Peter Cherecwich sold 25,000 shares of the company’s stock in a transaction on Monday, January 26th. The stock was sold at an average price of $149.62, for a total value of $3,740,500.00. Following the transaction, the chief operating officer directly owned 26,259 shares in the company, valued at approximately $3,928,871.58. This represents a 48.77% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 34,905 shares of company stock valued at $5,166,714 in the last three months. 0.77% of the stock is currently owned by corporate insiders.

Northern Trust Price Performance

Shares of NTRS stock opened at $135.78 on Friday. Northern Trust Corporation has a 52 week low of $81.62 and a 52 week high of $157.60. The stock has a market capitalization of $25.16 billion, a PE ratio of 15.54, a PEG ratio of 1.07 and a beta of 1.27. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.69 and a current ratio of 0.69. The stock’s fifty day moving average is $145.04 and its 200-day moving average is $136.43.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings results on Friday, January 30th. The asset manager reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.37 by $0.05. Northern Trust had a net margin of 12.15% and a return on equity of 14.87%. The business had revenue of $3.15 billion for the quarter. During the same quarter last year, the company earned $2.26 EPS. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. Equities research analysts expect that Northern Trust Corporation will post 8.27 EPS for the current fiscal year.

Northern Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Friday, March 6th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Friday, March 6th. Northern Trust’s dividend payout ratio is presently 36.61%.

Northern Trust Company Profile

Northern Trust Corporation (NASDAQ: NTRS) is a global financial services firm headquartered in Chicago that provides asset servicing, asset management and wealth management solutions to institutions, corporations and high-net-worth individuals. The company’s core businesses include custody and fund administration, investment operations outsourcing, trust and fiduciary services, private banking, and retirement and defined contribution plan services.

Northern Trust’s product and service offerings span custody and fund accounting, portfolio and performance analytics, securities lending, cash management and foreign exchange, as well as discretionary and non-discretionary investment management.