Mariner LLC Sells 14,812 Shares of Northern Trust Co. (NASDAQ:NTRS)

Mariner LLC lowered its position in Northern Trust Co. (NASDAQ:NTRS) by 12.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 102,809 shares of the asset manager’s stock after selling 14,812 shares during the quarter. Mariner LLC’s holdings in Northern Trust were worth $10,538,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Y.D. More Investments Ltd raised its position in Northern Trust by 118.4% in the 4th quarter. Y.D. More Investments Ltd now owns 249 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 135 shares during the last quarter. Empirical Asset Management LLC bought a new position in shares of Northern Trust in the fourth quarter valued at about $33,000. Brooklyn Investment Group lifted its position in Northern Trust by 51.2% during the 4th quarter. Brooklyn Investment Group now owns 378 shares of the asset manager’s stock worth $39,000 after buying an additional 128 shares in the last quarter. Assetmark Inc. grew its holdings in Northern Trust by 528.3% during the 4th quarter. Assetmark Inc. now owns 377 shares of the asset manager’s stock worth $39,000 after acquiring an additional 317 shares during the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in Northern Trust in the 4th quarter valued at about $51,000. 83.19% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on NTRS shares. Truist Financial reduced their target price on shares of 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 reduced their price objective on Northern Trust from $110.00 to $105.00 and set a “neutral” rating on the stock in a report on Monday, March 24th. Morgan Stanley lowered their target price on Northern Trust from $136.00 to $132.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 2nd. Bank of America cut their price target on Northern Trust from $123.00 to $121.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods lifted their price objective on Northern Trust from $113.00 to $122.00 and gave the stock a “market perform” rating in a research report on Friday, January 24th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $112.31.

Northern Trust Stock Performance

Shares of NTRS stock opened at $88.29 on Friday. The stock has a 50-day moving average of $100.36 and a 200-day moving average of $102.72. Northern Trust Co. has a one year low of $79.68 and a one year high of $114.67. The stock has a market cap of $17.28 billion, a PE ratio of 9.03, a price-to-earnings-growth ratio of 1.72 and a beta of 1.10. 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 posted its earnings results on Thursday, January 23rd. The asset manager reported $2.26 earnings per share for the quarter, topping 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%. As a group, sell-side analysts expect that Northern Trust Co. will post 8.27 earnings per share for the current year.

Northern Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were paid a $0.75 dividend. The ex-dividend date was Friday, March 14th. This represents a $3.00 dividend on an annualized basis and a yield of 3.40%. Northern Trust’s payout ratio is 30.67%.

Insiders Place Their Bets

In other news, insider Jason J. Tyler sold 2,237 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $112.67, for a total value of $252,042.79. Following the completion of the transaction, the insider now owns 58,449 shares in the company, valued at $6,585,448.83. This represents a 3.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jane Karpinski sold 2,262 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $111.33, for a total transaction of $251,828.46. Following the sale, the executive vice president now owns 17,236 shares in the company, valued at approximately $1,918,883.88. The trade was a 11.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,335 shares of company stock worth $3,970,211 over the last ninety days. 0.77% of the stock is currently owned by corporate insiders.

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.