Mirae Asset Global Investments Co. Ltd. Lowers Position in Northern Trust Co. (NASDAQ:NTRS)

Mirae Asset Global Investments Co. Ltd. lessened its stake in Northern Trust Co. (NASDAQ:NTRS) by 31.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 61,596 shares of the asset manager’s stock after selling 28,243 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Northern Trust were worth $5,197,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Deutsche Bank AG lifted its holdings in shares of Northern Trust by 8.1% in the third quarter. Deutsche Bank AG now owns 597,143 shares of the asset manager’s stock worth $41,489,000 after buying an additional 44,516 shares in the last quarter. Financiere des Professionnels Fonds d investissement inc. increased its position in Northern Trust by 51.3% in the fourth quarter. Financiere des Professionnels Fonds d investissement inc. now owns 70,384 shares of the asset manager’s stock worth $5,939,000 after purchasing an additional 23,859 shares during the last quarter. HB Wealth Management LLC bought a new stake in Northern Trust in the fourth quarter worth $227,000. Nordea Investment Management AB increased its position in Northern Trust by 2.4% in the third quarter. Nordea Investment Management AB now owns 12,962 shares of the asset manager’s stock worth $907,000 after purchasing an additional 305 shares during the last quarter. Finally, Pathstone Family Office LLC bought a new stake in Northern Trust in the third quarter worth $715,000. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Insider Buying and Selling

In other Northern Trust news, insider Steven L. Fradkin sold 30,392 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $80.11, for a total transaction of $2,434,703.12. Following the completion of the sale, the insider now directly owns 55,707 shares of the company’s stock, valued at $4,462,687.77. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.64% of the stock is owned by insiders.

Northern Trust Stock Down 0.1 %

Shares of NTRS opened at $83.71 on Tuesday. The firm has a market capitalization of $17.08 billion, a P/E ratio of 16.48, a P/E/G ratio of 1.73 and a beta of 1.13. Northern Trust Co. has a 12-month low of $62.44 and a 12-month high of $89.25. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.62. The firm has a fifty day moving average price of $83.10 and a 200-day moving average price of $78.73.

Northern Trust (NASDAQ:NTRS) last issued its earnings results on Thursday, January 18th. The asset manager reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.81). The company had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.71 billion. Northern Trust had a net margin of 9.14% and a return on equity of 12.44%. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.65 earnings per share. Equities research analysts expect that Northern Trust Co. will post 6.57 earnings per share for the current year.

Northern Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 8th were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date of this dividend was Thursday, March 7th. Northern Trust’s dividend payout ratio (DPR) is presently 59.06%.

Analyst Ratings Changes

Several brokerages recently weighed in on NTRS. Evercore ISI boosted their price target on shares of Northern Trust from $86.00 to $87.00 and gave the stock an “in-line” rating in a research report on Thursday, April 4th. Jefferies Financial Group upgraded shares of Northern Trust from a “hold” rating to a “buy” rating and boosted their price target for the stock from $68.00 to $99.00 in a research report on Tuesday, January 9th. UBS Group boosted their price objective on shares of Northern Trust from $72.00 to $84.00 and gave the company a “neutral” rating in a research report on Tuesday, January 9th. Wolfe Research cut shares of Northern Trust from a “peer perform” rating to an “underperform” rating and set a $85.00 price objective on the stock. in a research report on Wednesday, January 3rd. Finally, Royal Bank of Canada boosted their price objective on shares of Northern Trust from $82.00 to $86.00 and gave the company an “outperform” rating in a research report on Friday, January 19th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Northern Trust presently has an average rating of “Hold” and an average price target of $83.09.

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.