Polaris Capital Management LLC Cuts Holdings in Northern Trust Co. (NASDAQ:NTRS)

Polaris Capital Management LLC cut its holdings in shares of Northern Trust Co. (NASDAQ:NTRS) by 3.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 383,800 shares of the asset manager’s stock after selling 14,800 shares during the period. Northern Trust comprises approximately 1.9% of Polaris Capital Management LLC’s holdings, making the stock its 19th biggest position. Polaris Capital Management LLC’s holdings in Northern Trust were worth $39,340,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Y.D. More Investments Ltd increased its position in shares of Northern Trust by 118.4% during the fourth quarter. Y.D. More Investments Ltd now owns 249 shares of the asset manager’s stock worth $26,000 after purchasing an additional 135 shares in the last quarter. Empirical Asset Management LLC purchased a new position in Northern Trust in the 4th quarter worth approximately $33,000. Northwest Investment Counselors LLC acquired a new position in shares of Northern Trust during the 3rd quarter worth approximately $39,000. Brooklyn Investment Group grew its position in shares of Northern Trust by 51.2% in the fourth quarter. Brooklyn Investment Group now owns 378 shares of the asset manager’s stock valued at $39,000 after purchasing an additional 128 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in Northern Trust during the third quarter worth approximately $48,000. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NTRS. UBS Group upped their target price on Northern Trust from $110.00 to $114.00 and gave the company a “neutral” rating in a report on Monday, January 27th. Wells Fargo & Company raised their price objective on shares of Northern Trust from $108.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Friday, November 15th. Royal Bank of Canada increased their price target on shares of Northern Trust from $107.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, January 24th. The Goldman Sachs Group raised their target price on Northern Trust from $92.00 to $102.00 and gave the stock a “sell” rating in a research note on Friday, January 24th. Finally, StockNews.com upgraded Northern Trust from a “hold” rating to a “buy” rating in a report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $112.58.

Insider Transactions at Northern Trust

In related news, Vice Chairman Steven L. Fradkin sold 9,100 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $111.00, for a total transaction of $1,010,100.00. Following the completion of the transaction, the insider now owns 47,797 shares of the company’s stock, valued at approximately $5,305,467. This represents a 15.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Peter Cherecwich sold 26,132 shares of the stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $112.36, for a total value of $2,936,191.52. Following the completion of the transaction, the chief operating officer now directly owns 26,586 shares in the company, valued at $2,987,202.96. This trade represents a 49.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 40,631 shares of company stock valued at $4,550,459 in the last ninety days. Corporate insiders own 0.64% of the company’s stock.

Northern Trust Trading Down 2.2 %

Shares of Northern Trust stock opened at $111.00 on Tuesday. The company has a market capitalization of $22.00 billion, a P/E ratio of 11.35, a PEG ratio of 1.74 and a beta of 1.08. 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 1 year low of $76.67 and a 1 year high of $114.67. The company’s fifty day moving average is $106.44 and its two-hundred day moving average is $98.51.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings results on Thursday, January 23rd. The asset manager reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.96 by $0.30. Northern Trust had a net margin of 12.77% and a return on equity of 13.74%. Analysts forecast that Northern Trust Co. will post 8.2 earnings per share for the current year.

Northern Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 2.70%. The ex-dividend date is Friday, March 14th. Northern Trust’s dividend payout ratio (DPR) is presently 30.67%.

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.