Pictet Asset Management Holding SA Sells 5,510 Shares of Northern Trust Corporation $NTRS

Pictet Asset Management Holding SA lowered its holdings in shares of Northern Trust Corporation (NASDAQ:NTRS) by 4.9% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 105,953 shares of the asset manager’s stock after selling 5,510 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Northern Trust were worth $14,788,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in NTRS. Triumph Capital Management bought a new stake in Northern Trust during the third quarter valued at approximately $25,000. Reflection Asset Management purchased a new stake in Northern Trust during the fourth quarter valued at approximately $25,000. Board of the Pension Protection Fund bought a new position in Northern Trust in the fourth quarter worth approximately $27,000. Elyxium Wealth LLC purchased a new position in shares of Northern Trust during the 4th quarter worth $34,000. Finally, International Assets Investment Management LLC purchased a new position in shares of Northern Trust during the 4th quarter worth $35,000. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on NTRS. Truist Financial upped their price objective on Northern Trust from $176.00 to $186.00 and gave the stock a “hold” rating in a research note on Friday, June 26th. Royal Bank Of Canada lifted their target price on Northern Trust from $159.00 to $178.00 and gave the company an “outperform” rating in a research report on Wednesday, April 22nd. Zacks Research raised Northern Trust from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th. BMO Capital Markets upgraded Northern Trust from a “market perform” rating to an “outperform” rating and set a $168.00 price target for the company in a research report on Monday, April 6th. Finally, Barclays raised their price objective on Northern Trust from $160.00 to $176.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $170.69.

Northern Trust Stock Performance

NTRS opened at $176.50 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.62 and a current ratio of 0.62. The stock has a market capitalization of $32.66 billion, a price-to-earnings ratio of 18.48, a PEG ratio of 1.20 and a beta of 1.24. The company has a fifty day moving average of $168.75 and a 200 day moving average of $153.07. Northern Trust Corporation has a fifty-two week low of $118.99 and a fifty-two week high of $178.70.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings results on Tuesday, April 21st. The asset manager reported $2.71 EPS for the quarter, topping the consensus estimate of $2.37 by $0.34. The business had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.13 billion. Northern Trust had a net margin of 12.84% and a return on equity of 15.94%. The business’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.90 EPS. As a group, sell-side analysts forecast that Northern Trust Corporation will post 11.21 earnings per share for the current fiscal year.

Northern Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Friday, June 5th were given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Friday, June 5th. Northern Trust’s payout ratio is currently 33.51%.

Insider Buying and Selling

In related news, CFO David W. Fox, Jr. sold 19,987 shares of the stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $166.16, for a total transaction of $3,321,039.92. Following the completion of the transaction, the chief financial officer directly owned 18,588 shares of the company’s stock, valued at approximately $3,088,582.08. This represents a 51.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert Edward Jr. Moritz purchased 225 shares of the business’s stock in a transaction on Friday, May 1st. The shares were purchased at an average price of $166.41 per share, with a total value of $37,442.25. Following the acquisition, the director directly owned 8,145 shares in the company, valued at $1,355,409.45. This represents a 2.84% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have sold 22,800 shares of company stock worth $3,785,251. Corporate insiders own 0.66% of the company’s stock.

Northern Trust 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.