Lincoln Capital LLC Reduces Position in Northern Trust Co. (NASDAQ:NTRS)

Lincoln Capital LLC lowered its position in Northern Trust Co. (NASDAQ:NTRS) by 6.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,002 shares of the asset manager’s stock after selling 224 shares during the quarter. Lincoln Capital LLC’s holdings in Northern Trust were worth $267,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Northern Trust by 2.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 12,861 shares of the asset manager’s stock worth $1,144,000 after buying an additional 302 shares during the last quarter. Ballentine Partners LLC increased its holdings in shares of Northern Trust by 16.9% in the first quarter. Ballentine Partners LLC now owns 3,771 shares of the asset manager’s stock valued at $335,000 after purchasing an additional 546 shares during the period. Cooper Financial Group purchased a new stake in shares of Northern Trust during the first quarter worth approximately $270,000. Private Capital Management LLC acquired a new stake in shares of Northern Trust during the fourth quarter worth $205,000. Finally, Lantz Financial LLC lifted its holdings in shares of Northern Trust by 1.3% during the first quarter. Lantz Financial LLC now owns 22,499 shares of the asset manager’s stock worth $2,001,000 after purchasing an additional 295 shares during the period. 83.19% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Bank of America upped their price objective on shares of Northern Trust from $93.00 to $101.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Keefe, Bruyette & Woods cut their price target on shares of Northern Trust from $92.00 to $85.00 and set a “market perform” rating for the company in a report on Thursday. Evercore ISI lifted their price objective on Northern Trust from $86.00 to $87.00 and gave the company an “in-line” rating in a report on Thursday, April 4th. Finally, Jefferies Financial Group increased their target price on Northern Trust from $101.00 to $103.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. Two equities 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 MarketBeat.com, the company has an average rating of “Hold” and an average price target of $85.75.

Insiders Place Their Bets

In other news, insider Steven L. Fradkin sold 4,097 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $82.56, for a total value of $338,248.32. Following the completion of the transaction, the insider now owns 46,078 shares of the company’s stock, valued at $3,804,199.68. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, insider Steven L. Fradkin sold 4,097 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $82.56, for a total value of $338,248.32. Following the completion of the transaction, the insider now directly owns 46,078 shares in the company, valued at $3,804,199.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Peter Cherecwich sold 12,000 shares of the stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $87.09, for a total transaction of $1,045,080.00. Following the transaction, the insider now owns 31,471 shares in the company, valued at $2,740,809.39. The disclosure for this sale can be found here. 0.64% of the stock is owned by corporate insiders.

Northern Trust Price Performance

NTRS stock traded up $1.59 during midday trading on Friday, hitting $84.13. 104,858 shares of the stock were exchanged, compared to its average volume of 1,374,329. The stock’s 50-day moving average price is $83.54 and its 200-day moving average price is $83.14. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.71. The stock has a market cap of $17.21 billion, a price-to-earnings ratio of 18.54, a PEG ratio of 1.17 and a beta of 1.10. Northern Trust Co. has a fifty-two week low of $62.44 and a fifty-two week high of $89.25.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings data on Tuesday, April 16th. The asset manager reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.23. Northern Trust had a return on equity of 12.57% and a net margin of 7.59%. The firm had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.79 billion. Research analysts predict that Northern Trust Co. will post 6.88 earnings per share for the current year.

Northern Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be issued a $0.75 dividend. The ex-dividend date is Friday, June 7th. This represents a $3.00 dividend on an annualized basis and a yield of 3.57%. Northern Trust’s dividend payout ratio (DPR) is 66.23%.

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.