UMB Bank n.a. Boosts Holdings in Northern Trust Co. (NASDAQ:NTRS)

UMB Bank n.a. lifted its stake in Northern Trust Co. (NASDAQ:NTRS) by 17.0% during the first quarter, HoldingsChannel reports. The institutional investor owned 5,990 shares of the asset manager’s stock after acquiring an additional 869 shares during the period. UMB Bank n.a.’s holdings in Northern Trust were worth $591,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Colonial Trust Co SC boosted its stake in Northern Trust by 6,400.0% during the 4th quarter. Colonial Trust Co SC now owns 260 shares of the asset manager’s stock worth $27,000 after purchasing an additional 256 shares during the period. Assetmark Inc. boosted its stake 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 purchasing an additional 317 shares during the period. Coppell Advisory Solutions LLC acquired a new stake in Northern Trust during the 4th quarter worth $44,000. True Wealth Design LLC boosted its stake in Northern Trust by 84.0% during the 4th quarter. True Wealth Design LLC now owns 425 shares of the asset manager’s stock worth $44,000 after purchasing an additional 194 shares during the period. Finally, Proficio Capital Partners LLC acquired a new stake in Northern Trust during the 4th quarter worth $51,000. 83.19% of the stock is owned by hedge funds and other institutional investors.

Northern Trust Stock Performance

Shares of NTRS opened at $109.91 on Wednesday. The company has a 50-day simple moving average of $98.36 and a 200-day simple moving average of $103.23. The company has a quick ratio of 0.71, a current ratio of 0.68 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $21.38 billion, a PE ratio of 11.24, a P/E/G ratio of 1.72 and a beta of 1.22. Northern Trust Co. has a 52-week low of $79.68 and a 52-week high of $114.67.

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

Northern Trust Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.73%. Northern Trust’s dividend payout ratio is presently 27.99%.

Analyst Ratings Changes

NTRS has been the subject of a number of recent research reports. Evercore ISI decreased their price target on shares of Northern Trust from $104.00 to $100.00 and set an “in-line” rating for the company in a research note on Wednesday, April 23rd. Morgan Stanley reiterated an “underweight” rating and set a $103.00 price target (up previously from $101.00) on shares of Northern Trust in a research note on Tuesday, June 3rd. Truist Financial decreased their price target on shares of Northern Trust from $98.00 to $92.00 and set a “hold” rating for the company in a research note on Wednesday, April 23rd. Royal Bank of Canada reduced their target price on shares of Northern Trust from $115.00 to $105.00 and set an “outperform” rating for the company in a research note on Wednesday, April 23rd. Finally, Bank of America reduced their target price on shares of Northern Trust from $123.00 to $121.00 and set a “buy” rating for the company in a research note on Wednesday, April 2nd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Northern Trust has a consensus rating of “Hold” and a consensus price target of $108.42.

Insider Activity

In other news, insider Teresa Parker sold 6,467 shares of the stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $100.62, for a total value of $650,709.54. Following the sale, the insider now directly owns 79,391 shares in the company, valued at $7,988,322.42. This represents a 7.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Clive Bellows sold 3,300 shares of the stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $99.95, for a total transaction of $329,835.00. Following the completion of the sale, the executive vice president now owns 28,736 shares in the company, valued at $2,872,163.20. This represents a 10.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,772 shares of company stock worth $981,069 in the last 90 days. 0.77% of the stock is currently owned by corporate insiders.

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.