RNC Capital Management LLC Has $79.20 Million Stock Position in Northern Trust Corporation $NTRS

RNC Capital Management LLC increased its holdings in Northern Trust Corporation (NASDAQ:NTRS) by 1.5% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 579,801 shares of the asset manager’s stock after purchasing an additional 8,472 shares during the period. Northern Trust comprises about 3.6% of RNC Capital Management LLC’s portfolio, making the stock its 3rd largest holding. RNC Capital Management LLC’s holdings in Northern Trust were worth $79,195,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of NTRS. Triumph Capital Management bought a new stake in Northern Trust in the 3rd quarter worth about $25,000. Board of the Pension Protection Fund bought a new stake in Northern Trust in the 4th quarter worth about $27,000. Olistico Wealth LLC bought a new stake in Northern Trust in the 4th quarter worth about $41,000. True Wealth Design LLC increased its holdings in Northern Trust by 98.7% in the 4th quarter. True Wealth Design LLC now owns 314 shares of the asset manager’s stock worth $43,000 after buying an additional 156 shares in the last quarter. Finally, Torren Management LLC bought a new stake in Northern Trust in the 4th quarter worth about $46,000. 83.19% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO David W. Fox, Jr. sold 19,987 shares of Northern Trust stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $166.16, for a total transaction of $3,321,039.92. Following the transaction, the chief financial officer directly owned 18,588 shares of the company’s stock, valued at $3,088,582.08. The trade was a 51.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert Edward Jr. Moritz acquired 225 shares of the stock in a transaction dated Friday, May 1st. The shares were bought at an average cost of $166.41 per share, for a total transaction of $37,442.25. Following the completion of the transaction, the director owned 8,145 shares in the company, valued at approximately $1,355,409.45. This represents a 2.84% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders sold 32,705 shares of company stock worth $5,211,464. 0.66% of the stock is currently owned by corporate insiders.

Northern Trust Trading Down 2.0%

Shares of NASDAQ:NTRS opened at $161.24 on Tuesday. The stock has a market capitalization of $29.88 billion, a price-to-earnings ratio of 16.88, a PEG ratio of 1.18 and a beta of 1.27. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.62 and a current ratio of 0.62. The stock’s 50-day simple moving average is $147.24 and its two-hundred day simple moving average is $141.02. Northern Trust Corporation has a 52-week low of $96.28 and a 52-week high of $173.18.

Northern Trust (NASDAQ:NTRS) last announced its earnings results on Tuesday, April 21st. The asset manager reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.37 by $0.34. Northern Trust had a return on equity of 15.94% and a net margin of 12.84%.The business had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same period last year, the firm posted $1.90 earnings per share. The business’s revenue for the quarter was up 13.8% on a year-over-year basis. Analysts expect that Northern Trust Corporation will post 10.63 EPS for the current year.

Northern Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 5th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, June 5th. Northern Trust’s payout ratio is presently 33.51%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on NTRS shares. Truist Financial lifted their price objective on Northern Trust from $155.00 to $176.00 and gave the stock a “hold” rating in a report on Wednesday, April 22nd. Barclays lifted their price objective on Northern Trust from $160.00 to $176.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 22nd. Royal Bank Of Canada raised their target price on Northern Trust from $159.00 to $178.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. Wells Fargo & Company raised their target price on Northern Trust from $150.00 to $175.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 22nd. Finally, Zacks Research cut Northern Trust from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 10th. Four analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Northern Trust has an average rating of “Hold” and an average price target of $163.55.

Northern Trust Company Profile

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.