Bridgeway Capital Management LLC Takes Position in Northern Trust Co. (NASDAQ:NTRS)

Bridgeway Capital Management LLC purchased a new position in Northern Trust Co. (NASDAQ:NTRS - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 23,000 shares of the asset manager's stock, valued at approximately $2,358,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its stake in shares of Northern Trust by 9.9% during the third quarter. JPMorgan Chase & Co. now owns 4,296,442 shares of the asset manager's stock valued at $386,809,000 after acquiring an additional 388,692 shares in the last quarter. Nordea Investment Management AB raised its position in Northern Trust by 6.6% during the 4th quarter. Nordea Investment Management AB now owns 15,345 shares of the asset manager's stock valued at $1,576,000 after purchasing an additional 954 shares in the last quarter. Czech National Bank grew its position in shares of Northern Trust by 4.6% during the 4th quarter. Czech National Bank now owns 42,978 shares of the asset manager's stock worth $4,405,000 after buying an additional 1,903 shares in the last quarter. Brookstone Capital Management increased its stake in shares of Northern Trust by 16.5% during the fourth quarter. Brookstone Capital Management now owns 8,526 shares of the asset manager's stock valued at $874,000 after buying an additional 1,210 shares during the period. Finally, Agate Pass Investment Management LLC bought a new stake in shares of Northern Trust in the fourth quarter valued at about $538,000. Institutional investors own 83.19% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Citigroup cut their target price on shares of Northern Trust from $110.00 to $105.00 and set a "neutral" rating on the stock in a research report on Monday, March 24th. Royal Bank of Canada reduced their price objective 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. StockNews.com downgraded Northern Trust from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Keefe, Bruyette & Woods upped their price objective on Northern Trust from $113.00 to $122.00 and gave the stock a "market perform" rating in a research note on Friday, January 24th. Finally, Bank of America cut their target price on Northern Trust from $123.00 to $121.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Northern Trust presently has an average rating of "Hold" and an average price target of $110.83.

Insider Transactions at Northern Trust

In related news, EVP Thomas A. South sold 3,804 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $113.00, for a total value of $429,852.00. Following the transaction, the executive vice president now owns 81,794 shares in the company, valued at approximately $9,242,722. This represents a 4.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.77% of the company's stock.

Northern Trust Stock Performance

Shares of Northern Trust stock opened at $100.59 on Friday. The firm has a market capitalization of $19.57 billion, a P/E ratio of 10.29, a PEG ratio of 1.72 and a beta of 1.18. Northern Trust Co. has a 52 week low of $79.68 and a 52 week high of $114.67. 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 50 day moving average price of $94.99 and a 200 day moving average price of $102.88.

Northern Trust (NASDAQ:NTRS - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The asset manager reported $1.90 EPS for the quarter, topping the consensus estimate of $1.85 by $0.05. Northern Trust had a net margin of 12.77% and a return on equity of 13.74%. The business had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.95 billion. Sell-side analysts expect that Northern Trust Co. will post 8.27 EPS for the current year.

Northern Trust Announces Dividend

The company also recently disclosed 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. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date of this dividend is Friday, June 6th. Northern Trust's dividend payout ratio is presently 27.99%.

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.

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