Oppenheimer Asset Management Inc. Sells 4,426 Shares of Northern Trust Corporation $NTRS

Oppenheimer Asset Management Inc. lessened its stake in shares of Northern Trust Corporation (NASDAQ:NTRS) by 2.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 148,036 shares of the asset manager’s stock after selling 4,426 shares during the quarter. Oppenheimer Asset Management Inc. owned about 0.08% of Northern Trust worth $20,220,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. CWM LLC grew its position in shares of Northern Trust by 122.6% during the fourth quarter. CWM LLC now owns 48,284 shares of the asset manager’s stock worth $6,595,000 after purchasing an additional 26,594 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Northern Trust by 2.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,947,456 shares of the asset manager’s stock valued at $262,128,000 after buying an additional 40,048 shares in the last quarter. iSAM Funds UK Ltd purchased a new position in Northern Trust during the 3rd quarter valued at approximately $2,253,000. Barclays PLC grew its holdings in Northern Trust by 62.4% during the 3rd quarter. Barclays PLC now owns 1,042,084 shares of the asset manager’s stock valued at $140,265,000 after buying an additional 400,247 shares in the last quarter. Finally, Swiss Life Asset Management Ltd grew its holdings in Northern Trust by 119.9% during the 3rd quarter. Swiss Life Asset Management Ltd now owns 83,175 shares of the asset manager’s stock valued at $11,195,000 after buying an additional 45,356 shares in the last quarter. Institutional investors own 83.19% of the company’s stock.

Insiders Place Their Bets

In other news, CFO David W. Fox, Jr. sold 19,987 shares of Northern Trust stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $166.16, for a total value of $3,321,039.92. Following the transaction, the chief financial officer directly owned 18,588 shares in the company, valued at approximately $3,088,582.08. This trade represents a 51.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Richard Petrino purchased 1,000 shares of the business’s stock in a transaction dated Thursday, February 5th. The stock was bought at an average price of $148.91 per share, for a total transaction of $148,910.00. Following the completion of the acquisition, the director directly owned 3,332 shares in the company, valued at approximately $496,168.12. This trade represents a 42.88% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders sold 32,705 shares of company stock worth $5,211,464. Insiders own 0.66% of the company’s stock.

Northern Trust Trading Up 0.9%

NTRS opened at $166.34 on Friday. The stock’s fifty day moving average is $147.24 and its two-hundred day moving average is $140.83. The company has a market capitalization of $30.83 billion, a P/E ratio of 17.42, a PEG ratio of 1.19 and a beta of 1.23. Northern Trust Corporation has a 52 week low of $93.42 and a 52 week high of $173.18. The company has a quick ratio of 0.69, a current ratio of 0.62 and a debt-to-equity ratio of 0.51.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings data 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 company had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.13 billion. Northern Trust had a return on equity of 15.94% and a net margin of 12.84%.Northern Trust’s quarterly revenue was up 13.8% on a year-over-year basis. During the same period last year, the business posted $1.90 EPS. Analysts forecast that Northern Trust Corporation will post 10.63 earnings per share for the current year.

Northern Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 5th will be issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 1.9%. The ex-dividend date is Friday, June 5th. Northern Trust’s dividend payout ratio (DPR) is presently 33.51%.

Analyst Ratings Changes

NTRS has been the subject of several research analyst reports. 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 report on Monday, April 6th. Morgan Stanley raised their price objective on Northern Trust from $131.00 to $140.00 and gave the company an “underweight” rating in a research note on Friday, January 23rd. Evercore raised their price target on Northern Trust from $142.00 to $155.00 and gave the stock an “in-line” rating in a research note on Friday, January 23rd. Citigroup started coverage on Northern Trust in a research note on Monday, February 23rd. They set a “neutral” rating for the company. Finally, Truist Financial raised their price target on Northern Trust from $155.00 to $176.00 and gave the stock a “hold” rating in a research note on Wednesday, April 22nd. Four analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $163.55.

About Northern Trust

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.