CANADA LIFE ASSURANCE Co Cuts Holdings in Northern Trust Co. (NASDAQ:NTRS)

CANADA LIFE ASSURANCE Co lowered its stake in shares of Northern Trust Co. (NASDAQ:NTRS) by 2.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 433,209 shares of the asset manager’s stock after selling 8,929 shares during the period. CANADA LIFE ASSURANCE Co’s holdings in Northern Trust were worth $44,334,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Farringdon Capital Ltd. purchased a new position in shares of Northern Trust in the 4th quarter worth approximately $304,000. Ontario Teachers Pension Plan Board boosted its stake in Northern Trust by 91.2% in the fourth quarter. Ontario Teachers Pension Plan Board now owns 8,290 shares of the asset manager’s stock valued at $850,000 after acquiring an additional 3,954 shares in the last quarter. Aware Super Pty Ltd as trustee of Aware Super purchased a new position in Northern Trust in the fourth quarter worth $4,042,000. Canada Post Corp Registered Pension Plan acquired a new position in shares of Northern Trust during the fourth quarter worth $383,000. Finally, Townsquare Capital LLC purchased a new stake in shares of Northern Trust during the 4th quarter valued at $213,000. Institutional investors own 83.19% of the company’s stock.

Northern Trust Stock Up 1.0 %

NTRS opened at $88.29 on Friday. The company has a fifty day moving average of $99.92 and a two-hundred day moving average of $102.71. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.68. Northern Trust Co. has a fifty-two week low of $79.68 and a fifty-two week high of $114.67. The stock has a market capitalization of $17.28 billion, a price-to-earnings ratio of 9.03, a PEG ratio of 1.72 and a beta of 1.10.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings results on Thursday, January 23rd. The asset manager reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.96 by $0.30. Northern Trust had a return on equity of 13.74% and a net margin of 12.77%. On average, research 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 declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were paid a $0.75 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $3.00 dividend on an annualized basis and a yield of 3.40%. Northern Trust’s dividend payout ratio is currently 30.67%.

Wall Street Analyst Weigh In

NTRS has been the topic of several recent analyst reports. Truist Financial reduced their target price on Northern Trust from $116.00 to $98.00 and set a “hold” rating on the stock in a research report on Friday, April 4th. Citigroup cut their price objective on shares of Northern Trust from $110.00 to $105.00 and set a “neutral” rating on the stock in a report on Monday, March 24th. The Goldman Sachs Group lifted their target price 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. Keefe, Bruyette & Woods raised their price target on shares of Northern Trust from $113.00 to $122.00 and gave the stock a “market perform” rating in a report on Friday, January 24th. Finally, Barclays lifted their price objective 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. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Northern Trust has an average rating of “Hold” and an average price target of $113.08.

Insider Buying and Selling

In other news, EVP Jane Karpinski sold 2,262 shares of Northern Trust stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $111.33, for a total value of $251,828.46. Following the sale, the executive vice president now owns 17,236 shares in the company, valued at $1,918,883.88. This trade represents a 11.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John Landers sold 900 shares of the company’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $111.44, for a total transaction of $100,296.00. Following the transaction, the insider now owns 7,640 shares of the company’s stock, valued at approximately $851,401.60. This trade represents a 10.54 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,335 shares of company stock valued at $3,970,211. 0.77% of the stock is owned by corporate insiders.

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.