Claro Advisors LLC Sells 1,881 Shares of Northern Trust Co. (NASDAQ:NTRS)

Claro Advisors LLC cut its stake in shares of Northern Trust Co. (NASDAQ:NTRS) by 19.3% in the fourth quarter, HoldingsChannel reports. The fund owned 7,874 shares of the asset manager’s stock after selling 1,881 shares during the period. Claro Advisors LLC’s holdings in Northern Trust were worth $807,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Northwest Investment Counselors LLC bought a new position in shares of Northern Trust during the 3rd quarter valued at approximately $39,000. Capital Performance Advisors LLP bought a new position in shares of Northern Trust during the 3rd quarter valued at approximately $48,000. Eastern Bank bought a new position in shares of Northern Trust during the 3rd quarter valued at approximately $51,000. Versant Capital Management Inc grew its stake in shares of Northern Trust by 34.9% during the 4th quarter. Versant Capital Management Inc now owns 684 shares of the asset manager’s stock valued at $70,000 after acquiring an additional 177 shares during the period. Finally, Catalyst Capital Advisors LLC bought a new position in shares of Northern Trust during the 3rd quarter valued at approximately $68,000. 83.19% of the stock is currently owned by institutional investors.

Northern Trust Stock Performance

NASDAQ:NTRS opened at $100.32 on Tuesday. The stock’s fifty day moving average is $105.67 and its 200 day moving average is $95.30. Northern Trust Co. has a fifty-two week low of $76.67 and a fifty-two week high of $111.87. The firm has a market capitalization of $19.89 billion, a PE ratio of 12.48, a PEG ratio of 1.18 and a beta of 1.08. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71.

Northern Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 1st. Investors of record on Friday, December 6th were issued a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $3.00 annualized dividend and a yield of 2.99%. Northern Trust’s payout ratio is presently 37.31%.

Insider Activity at Northern Trust

In related news, EVP Thomas A. South sold 5,000 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $105.80, for a total transaction of $529,000.00. Following the sale, the executive vice president now owns 49,756 shares in the company, valued at approximately $5,264,184.80. This represents a 9.13 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Peter Cherecwich sold 16,153 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $105.18, for a total value of $1,698,972.54. Following the sale, the chief operating officer now owns 4,397 shares in the company, valued at $462,476.46. The trade was a 78.60 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 82,151 shares of company stock worth $8,489,889. Company insiders own 0.64% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Wells Fargo & Company upped their price target on Northern Trust from $108.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Friday, November 15th. Truist Financial assumed coverage on Northern Trust in a research note on Tuesday, January 7th. They issued a “hold” rating and a $110.00 price target for the company. Barclays upped their price target on Northern Trust from $115.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. StockNews.com upgraded Northern Trust from a “hold” rating to a “buy” rating in a research note on Tuesday, December 10th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Northern Trust from $100.00 to $108.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Northern Trust has an average rating of “Hold” and a consensus target price of $107.17.

Northern Trust Company 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.