Cornercap Investment Counsel Inc. Reduces Stake in Northern Trust Co. (NASDAQ:NTRS)

Cornercap Investment Counsel Inc. cut its holdings in shares of Northern Trust Co. (NASDAQ:NTRS) by 3.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 16,704 shares of the asset manager’s stock after selling 582 shares during the period. Northern Trust accounts for 0.6% of Cornercap Investment Counsel Inc.’s portfolio, making the stock its 24th biggest position. Cornercap Investment Counsel Inc.’s holdings in Northern Trust were worth $1,712,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NTRS. Pathstone Holdings LLC raised its holdings in Northern Trust by 2.6% in the 3rd quarter. Pathstone Holdings LLC now owns 15,936 shares of the asset manager’s stock worth $1,437,000 after purchasing an additional 402 shares in the last quarter. Daiwa Securities Group Inc. increased its position in shares of Northern Trust by 11.1% during the third quarter. Daiwa Securities Group Inc. now owns 24,668 shares of the asset manager’s stock valued at $2,221,000 after buying an additional 2,474 shares during the period. Bank of Montreal Can raised its stake in Northern Trust by 34.9% in the third quarter. Bank of Montreal Can now owns 283,690 shares of the asset manager’s stock worth $25,552,000 after buying an additional 73,327 shares in the last quarter. BNP Paribas Financial Markets boosted its position in Northern Trust by 0.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 257,997 shares of the asset manager’s stock valued at $23,227,000 after acquiring an additional 2,283 shares in the last quarter. Finally, Bridgewater Associates LP grew its holdings in shares of Northern Trust by 294.2% during the 3rd quarter. Bridgewater Associates LP now owns 18,648 shares of the asset manager’s stock worth $1,679,000 after acquiring an additional 13,918 shares during the period. Institutional investors own 83.19% of the company’s stock.

Insider Transactions at Northern Trust

In other Northern Trust news, EVP Thomas A. South sold 3,804 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $113.00, for a total value of $429,852.00. Following the transaction, the executive vice president now directly owns 81,794 shares of the company’s stock, valued at approximately $9,242,722. This trade represents a 4.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Peter Cherecwich sold 26,132 shares of the company’s stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $112.36, for a total transaction of $2,936,191.52. Following the sale, the chief operating officer now directly owns 26,586 shares of the company’s stock, valued at $2,987,202.96. The trade was a 49.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,335 shares of company stock worth $3,970,211 in the last ninety days. Insiders own 0.64% of the company’s stock.

Northern Trust Trading Down 3.4 %

Shares of NASDAQ:NTRS opened at $97.15 on Friday. Northern Trust Co. has a 1 year low of $79.32 and a 1 year high of $114.67. The stock’s fifty day moving average price is $107.04 and its 200-day moving average price is $102.78. The company has a market cap of $19.01 billion, a P/E ratio of 9.93, a PEG ratio of 1.72 and a beta of 1.07. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.68 and a quick ratio of 0.71.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings results on Thursday, January 23rd. The asset manager reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.96 by $0.30. Northern Trust had a net margin of 12.77% and a return on equity of 13.74%. Sell-side analysts expect that Northern Trust Co. will post 8.27 earnings per share for the current year.

Northern Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.75 per share. The ex-dividend date is Friday, March 14th. This represents a $3.00 dividend on an annualized basis and a yield of 3.09%. Northern Trust’s dividend payout ratio is presently 30.67%.

Wall Street Analysts Forecast Growth

NTRS has been the subject of a number of research analyst reports. Morgan Stanley lowered their target price on Northern Trust from $138.00 to $136.00 and set an “equal weight” rating for the company in a research note on Thursday, March 6th. StockNews.com cut shares of Northern Trust from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Barclays increased their price target on shares of Northern Trust from $115.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. The Goldman Sachs Group boosted their price objective on shares of Northern Trust from $92.00 to $102.00 and gave the stock a “sell” rating in a research note on Friday, January 24th. Finally, Truist Financial lifted their target price on shares of Northern Trust from $110.00 to $116.00 and gave the company a “hold” rating in a report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Northern Trust has an average rating of “Hold” and a consensus target price of $113.46.

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.