Cypress Capital Group Sells 3,605 Shares of Northern Trust Co. (NASDAQ:NTRS)

Cypress Capital Group reduced its position in shares of Northern Trust Co. (NASDAQ:NTRS) by 53.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,138 shares of the asset manager’s stock after selling 3,605 shares during the period. Cypress Capital Group’s holdings in Northern Trust were worth $322,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of NTRS. Farther Finance Advisors LLC boosted its holdings in shares of Northern Trust by 238.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,275 shares of the asset manager’s stock worth $295,000 after buying an additional 2,308 shares during the period. Chicago Partners Investment Group LLC bought a new stake in Northern Trust in the 3rd quarter valued at $177,000. Van ECK Associates Corp boosted its holdings in Northern Trust by 1.4% in the 3rd quarter. Van ECK Associates Corp now owns 131,481 shares of the asset manager’s stock valued at $11,837,000 after purchasing an additional 1,806 shares during the period. Robeco Institutional Asset Management B.V. boosted its holdings in Northern Trust by 55.4% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 416,664 shares of the asset manager’s stock valued at $37,512,000 after purchasing an additional 148,584 shares during the period. Finally, Intact Investment Management Inc. bought a new stake in Northern Trust in the 3rd quarter valued at $73,000. 83.19% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Jason J. Tyler sold 2,237 shares of the firm’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $112.67, for a total value of $252,042.79. Following the transaction, the insider now owns 58,449 shares of the company’s stock, valued at approximately $6,585,448.83. This trade represents a 3.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jane Karpinski sold 2,262 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $111.33, for a total transaction of $251,828.46. Following the completion of the transaction, the executive vice president now directly owns 17,236 shares in the company, valued at $1,918,883.88. This trade represents a 11.60 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 35,335 shares of company stock valued at $3,970,211. 0.64% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. StockNews.com downgraded shares of Northern Trust from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Wells Fargo & Company increased their price target on shares of Northern Trust from $108.00 to $110.00 and gave the company an “equal weight” rating in a report on Friday, November 15th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Northern Trust from $100.00 to $108.00 and gave the company a “hold” rating in a report on Monday, November 11th. UBS Group increased their price objective on shares of Northern Trust from $110.00 to $114.00 and gave the company a “neutral” rating in a research note on Monday, January 27th. Finally, Morgan Stanley dropped their price objective on shares of Northern Trust from $127.00 to $125.00 and set an “equal weight” rating for the company in a research note on Friday, January 3rd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $112.58.

Northern Trust Trading Up 1.0 %

Shares of Northern Trust stock opened at $105.37 on Thursday. The company has a quick ratio of 0.71, a current ratio of 0.68 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $20.62 billion, a P/E ratio of 10.77, a price-to-earnings-growth ratio of 1.72 and a beta of 1.07. Northern Trust Co. has a 12-month low of $79.30 and a 12-month high of $114.67. The company has a 50-day simple moving average of $108.21 and a 200 day simple moving average of $101.56.

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

Northern Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 2.85%. The ex-dividend date of this dividend is Friday, March 14th. Northern Trust’s dividend payout ratio (DPR) is presently 30.67%.

Northern Trust 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.