Bank of America Corp DE Has $54.59 Million Holdings in Northern Trust Co. (NASDAQ:NTRS)

Bank of America Corp DE trimmed its holdings in shares of Northern Trust Co. (NASDAQ:NTRS) by 9.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 532,618 shares of the asset manager’s stock after selling 57,056 shares during the period. Bank of America Corp DE’s holdings in Northern Trust were worth $54,593,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of NTRS. Y.D. More Investments Ltd boosted its holdings in Northern Trust by 118.4% during the fourth quarter. Y.D. More Investments Ltd now owns 249 shares of the asset manager’s stock valued at $26,000 after acquiring an additional 135 shares during the period. Assetmark Inc. lifted its position in shares of 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 purchasing an additional 317 shares during the last quarter. Brooklyn Investment Group boosted its stake in Northern Trust by 51.2% during the 4th quarter. Brooklyn Investment Group now owns 378 shares of the asset manager’s stock valued at $39,000 after purchasing an additional 128 shares during the period. Coppell Advisory Solutions LLC acquired a new stake in Northern Trust in the 4th quarter valued at approximately $44,000. Finally, EverSource Wealth Advisors LLC increased its position in Northern Trust by 83.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 494 shares of the asset manager’s stock worth $51,000 after buying an additional 224 shares during the period. 83.19% of the stock is owned by institutional investors and hedge funds.

Northern Trust Trading Up 1.4%

Shares of NTRS opened at $107.14 on Wednesday. The company has a current ratio of 0.68, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The stock has a market cap of $20.84 billion, a PE ratio of 10.96, a PEG ratio of 1.72 and a beta of 1.18. Northern Trust Co. has a 1 year low of $79.68 and a 1 year high of $114.67. The stock has a 50 day simple moving average of $95.06 and a 200-day simple moving average of $102.95.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings results on Tuesday, April 22nd. The asset manager reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.05. Northern Trust had a return on equity of 13.74% and a net margin of 12.77%. The firm had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.95 billion. On average, sell-side analysts predict that Northern Trust Co. will post 8.27 EPS for the current fiscal year.

Northern Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 6th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 2.80%. The ex-dividend date of this dividend is Friday, June 6th. Northern Trust’s payout ratio is 27.99%.

Insider Buying and Selling

In other news, insider Teresa Parker sold 6,467 shares of the business’s stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $100.62, for a total value of $650,709.54. Following the transaction, the insider now directly owns 79,391 shares of the company’s stock, valued at $7,988,322.42. The trade was a 7.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Thomas A. South sold 3,804 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $113.00, for a total value of $429,852.00. Following the sale, the executive vice president now owns 81,794 shares in the company, valued at $9,242,722. The trade was a 4.44% decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,571 shares of company stock worth $1,410,397 in the last quarter. 0.77% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on NTRS shares. Evercore ISI lowered their price objective on shares of Northern Trust from $104.00 to $100.00 and set an “in-line” rating on the stock in a research note on Wednesday, April 23rd. The Goldman Sachs Group upped their target price on shares of Northern Trust from $92.00 to $102.00 and gave the company a “sell” rating in a research note on Friday, January 24th. Morgan Stanley decreased their price target on shares of Northern Trust from $136.00 to $132.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 2nd. Wells Fargo & Company dropped their price objective on shares of Northern Trust from $118.00 to $111.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 23rd. Finally, Keefe, Bruyette & Woods increased their target price on shares of Northern Trust from $113.00 to $122.00 and gave the company a “market perform” rating in a research note on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $110.83.

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.