Alera Investment Advisors LLC lowered its stake in shares of Northern Trust Co. (NASDAQ:NTRS) by 28.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,603 shares of the asset manager’s stock after selling 4,668 shares during the quarter. Northern Trust comprises about 0.5% of Alera Investment Advisors LLC’s holdings, making the stock its 22nd largest position. Alera Investment Advisors LLC’s holdings in Northern Trust were worth $1,049,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Andra AP fonden acquired a new position in shares of Northern Trust during the 1st quarter worth approximately $4,285,000. Neuburgh Advisers LLC raised its position in shares of Northern Trust by 4.1% during the 1st quarter. Neuburgh Advisers LLC now owns 153,918 shares of the asset manager’s stock worth $13,915,000 after purchasing an additional 6,086 shares during the last quarter. Tyers Asset Management LLC raised its position in shares of Northern Trust by 4.1% during the 1st quarter. Tyers Asset Management LLC now owns 99,594 shares of the asset manager’s stock worth $9,004,000 after purchasing an additional 3,938 shares during the last quarter. Amundi Pioneer Asset Management Inc. raised its position in shares of Northern Trust by 12.6% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 371,326 shares of the asset manager’s stock worth $33,572,000 after purchasing an additional 41,472 shares during the last quarter. Finally, Resources Investment Advisors Inc. raised its position in shares of Northern Trust by 194.2% during the 1st quarter. Resources Investment Advisors Inc. now owns 306 shares of the asset manager’s stock worth $28,000 after purchasing an additional 202 shares during the last quarter. 78.83% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NTRS opened at $87.78 on Wednesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.63 and a quick ratio of 0.63. The firm has a market capitalization of $19.11 billion, a price-to-earnings ratio of 13.04, a price-to-earnings-growth ratio of 1.34 and a beta of 1.16. Northern Trust Co. has a fifty-two week low of $75.96 and a fifty-two week high of $115.61.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a $0.60 dividend. The ex-dividend date is Thursday, June 13th. This represents a $2.40 annualized dividend and a yield of 2.73%. Northern Trust’s dividend payout ratio (DPR) is presently 35.66%.
NTRS has been the subject of several research reports. BidaskClub upgraded Northern Trust from a “sell” rating to a “hold” rating in a research report on Tuesday, May 7th. Zacks Investment Research downgraded Northern Trust from a “buy” rating to a “hold” rating in a research report on Friday, May 17th. Wells Fargo & Co lifted their price objective on Northern Trust from $124.00 to $131.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 8th. They noted that the move was a valuation call. Credit Suisse Group restated a “hold” rating and set a $101.00 price objective on shares of Northern Trust in a research report on Tuesday, February 19th. Finally, ValuEngine downgraded Northern Trust from a “hold” rating to a “sell” rating in a research report on Monday, February 25th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company’s stock. Northern Trust presently has a consensus rating of “Hold” and a consensus price target of $110.33.
In other Northern Trust news, insider Teresa Parker sold 3,000 shares of the business’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $97.50, for a total value of $292,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.15% of the company’s stock.
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About Northern Trust
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, Corporate & Institutional Services (C&IS) and Wealth Management.
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