Thompson Investment Management Inc. Cuts Stock Position in Northern Trust Co. (NASDAQ:NTRS)

Thompson Investment Management Inc. cut its holdings in shares of Northern Trust Co. (NASDAQ:NTRS) by 0.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 73,584 shares of the asset manager’s stock after selling 178 shares during the period. Thompson Investment Management Inc.’s holdings in Northern Trust were worth $6,543,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of NTRS. Spartan Planning & Wealth Management increased its stake in Northern Trust by 10,566.7% during the fourth quarter. Spartan Planning & Wealth Management now owns 320 shares of the asset manager’s stock worth $27,000 after purchasing an additional 317 shares during the period. Fortitude Family Office LLC purchased a new stake in shares of Northern Trust during the fourth quarter worth approximately $28,000. Quent Capital LLC increased its stake in shares of Northern Trust by 77.8% during the fourth quarter. Quent Capital LLC now owns 361 shares of the asset manager’s stock worth $30,000 after buying an additional 158 shares during the period. Allworth Financial LP increased its stake in shares of Northern Trust by 94.1% during the fourth quarter. Allworth Financial LP now owns 359 shares of the asset manager’s stock worth $30,000 after buying an additional 174 shares during the period. Finally, Covestor Ltd increased its stake in shares of Northern Trust by 147.5% during the third quarter. Covestor Ltd now owns 604 shares of the asset manager’s stock worth $42,000 after buying an additional 360 shares during the period. 83.19% of the stock is currently owned by hedge funds and other institutional investors.

Northern Trust Stock Performance

Shares of Northern Trust stock traded down $0.12 during trading hours on Wednesday, hitting $81.94. 219,874 shares of the company were exchanged, compared to its average volume of 1,384,996. Northern Trust Co. has a 1 year low of $62.44 and a 1 year high of $89.25. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. The business has a 50-day moving average of $83.52 and a 200-day moving average of $83.15. The stock has a market capitalization of $16.76 billion, a price-to-earnings ratio of 18.06, a P/E/G ratio of 1.16 and a beta of 1.10.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings data on Tuesday, April 16th. The asset manager reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.23. The firm had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.79 billion. Northern Trust had a return on equity of 12.57% and a net margin of 7.59%. As a group, analysts expect that Northern Trust Co. will post 6.88 EPS for the current fiscal year.

Northern Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 3.66%. The ex-dividend date is Friday, June 7th. Northern Trust’s payout ratio is 66.23%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on NTRS. Bank of America upped their target price on shares of Northern Trust from $93.00 to $101.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Evercore ISI upped their price target on Northern Trust from $86.00 to $87.00 and gave the company an “in-line” rating in a report on Thursday, April 4th. Finally, Jefferies Financial Group upped their price target on Northern Trust from $101.00 to $103.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $85.82.

Insiders Place Their Bets

In other news, insider Peter Cherecwich sold 12,000 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $87.09, for a total value of $1,045,080.00. Following the completion of the transaction, the insider now owns 31,471 shares in the company, valued at $2,740,809.39. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, insider Steven L. Fradkin sold 4,097 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $82.56, for a total transaction of $338,248.32. Following the sale, the insider now owns 46,078 shares of the company’s stock, valued at $3,804,199.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Peter Cherecwich sold 12,000 shares of the stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $87.09, for a total value of $1,045,080.00. Following the sale, the insider now directly owns 31,471 shares in the company, valued at approximately $2,740,809.39. The disclosure for this sale can be found here. 0.64% of the stock is currently owned by company insiders.

Northern Trust Company Profile

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.