Lincoln Capital LLC Reduces Stake in Northern Trust Co. (NASDAQ:NTRS)

Lincoln Capital LLC lessened its stake in shares of Northern Trust Co. (NASDAQ:NTRS) by 15.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,534 shares of the asset manager’s stock after selling 468 shares during the quarter. Lincoln Capital LLC’s holdings in Northern Trust were worth $260,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. FMR LLC increased its position in shares of Northern Trust by 9.3% in the third quarter. FMR LLC now owns 18,187,663 shares of the asset manager’s stock worth $1,637,435,000 after purchasing an additional 1,542,685 shares during the last quarter. Primecap Management Co. CA raised its position in shares of Northern Trust by 0.5% during the 3rd quarter. Primecap Management Co. CA now owns 7,085,117 shares of the asset manager’s stock valued at $637,873,000 after buying an additional 38,360 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Northern Trust by 9.9% during the third quarter. JPMorgan Chase & Co. now owns 4,296,442 shares of the asset manager’s stock worth $386,809,000 after purchasing an additional 388,692 shares during the last quarter. Ariel Investments LLC boosted its holdings in shares of Northern Trust by 3.6% in the 2nd quarter. Ariel Investments LLC now owns 2,644,205 shares of the asset manager’s stock worth $222,060,000 after purchasing an additional 91,816 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Northern Trust by 1.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,577,091 shares of the asset manager’s stock valued at $141,986,000 after purchasing an additional 16,500 shares during the last quarter. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Analyst Upgrades and Downgrades

NTRS has been the topic of several research reports. Evercore ISI lifted their price target on shares of Northern Trust from $86.00 to $103.00 and gave the stock an “in-line” rating in a research note on Thursday, October 24th. UBS Group boosted their target price on Northern Trust from $86.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, October 8th. Wells Fargo & Company raised their price target on Northern Trust from $108.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Friday, November 15th. Bank of America upped their price target on shares of Northern Trust from $103.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Finally, Truist Financial initiated coverage on shares of Northern Trust in a report on Tuesday, January 7th. They issued a “hold” rating and a $110.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $107.17.

Insider Activity

In other Northern Trust news, EVP Susan Cohen Levy sold 19,585 shares of Northern Trust stock in a transaction on Friday, October 25th. The stock was sold at an average price of $102.26, for a total transaction of $2,002,762.10. Following the completion of the transaction, the executive vice president now owns 17,132 shares in the company, valued at approximately $1,751,918.32. The trade was a 53.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Vice Chairman Steven L. Fradkin sold 9,100 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $111.00, for a total value of $1,010,100.00. Following the completion of the sale, the insider now directly owns 47,797 shares in the company, valued at approximately $5,305,467. This represents a 15.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 82,151 shares of company stock worth $8,489,889. Corporate insiders own 0.64% of the company’s stock.

Northern Trust Stock Up 0.4 %

NTRS stock opened at $106.87 on Monday. Northern Trust Co. has a fifty-two week low of $76.67 and a fifty-two week high of $111.87. The company has a market capitalization of $21.18 billion, a price-to-earnings ratio of 13.29, a price-to-earnings-growth ratio of 1.06 and a beta of 1.08. The business’s 50 day moving average price is $105.73 and its two-hundred day moving average price is $95.81. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71.

Northern Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 1st. Shareholders of record on Friday, December 6th were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.81%. The ex-dividend date was Friday, December 6th. Northern Trust’s dividend payout ratio is currently 37.31%.

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.