Northern Trust Co. (NASDAQ:NTRS) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. decreased its holdings in shares of Northern Trust Co. (NASDAQ:NTRS) by 6.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 46,919 shares of the asset manager’s stock after selling 3,128 shares during the period. Corebridge Financial Inc.’s holdings in Northern Trust were worth $4,809,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Y.D. More Investments Ltd raised its holdings in shares of Northern Trust by 118.4% in the fourth quarter. Y.D. More Investments Ltd now owns 249 shares of the asset manager’s stock worth $26,000 after buying an additional 135 shares during the last quarter. Assetmark Inc. lifted its position 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 period. Brooklyn Investment Group grew 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 last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Northern Trust by 83.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 494 shares of the asset manager’s stock valued at $51,000 after purchasing an additional 224 shares during the period. Finally, Friedenthal Financial purchased a new position in shares of Northern Trust in the fourth quarter worth about $57,000. Institutional investors and hedge funds own 83.19% of the company’s stock.

Northern Trust Price Performance

Northern Trust stock opened at $97.15 on Friday. The company has a fifty day simple moving average of $107.04 and a 200-day simple moving average of $102.88. The firm has a market capitalization of $19.01 billion, a price-to-earnings ratio of 9.93, a PEG ratio of 1.72 and a beta of 1.07. The company has a quick ratio of 0.71, a current ratio of 0.68 and a debt-to-equity ratio of 0.58. Northern Trust Co. has a 52-week low of $79.32 and a 52-week high of $114.67.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings data on Thursday, January 23rd. The asset manager reported $2.26 EPS for the quarter, beating 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%. On average, equities analysts anticipate that Northern Trust Co. will post 8.27 EPS for the current fiscal year.

Northern Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date of this dividend is Friday, March 14th. Northern Trust’s dividend payout ratio (DPR) is presently 30.67%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Barclays upped their price target on shares of Northern Trust from $115.00 to $118.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Keefe, Bruyette & Woods lifted their price target on Northern Trust from $113.00 to $122.00 and gave the company a “market perform” rating in a research report on Friday, January 24th. Wells Fargo & Company lowered their price objective on Northern Trust from $119.00 to $118.00 and set an “equal weight” rating on the stock in a research report on Friday. Morgan Stanley dropped their price target on shares of Northern Trust from $138.00 to $136.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 6th. Finally, Royal Bank of Canada upped their price objective on shares of Northern Trust from $107.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, January 24th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Northern Trust currently has an average rating of “Hold” and an average price target of $113.46.

Insider Transactions at Northern Trust

In other Northern Trust news, EVP Thomas A. South sold 3,804 shares of Northern Trust stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $113.00, for a total transaction of $429,852.00. Following the transaction, the executive vice president now directly owns 81,794 shares of the company’s stock, valued at $9,242,722. The trade was a 4.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jason J. Tyler sold 2,237 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $112.67, for a total transaction of $252,042.79. Following the sale, the insider now owns 58,449 shares of the company’s stock, valued at $6,585,448.83. This represents a 3.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,335 shares of company stock worth $3,970,211 in the last quarter. Company insiders own 0.64% of the company’s stock.

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.