Nomura Holdings Inc. acquired a new position in Northern Trust Co. (NASDAQ:NTRS - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 6,527 shares of the asset manager's stock, valued at approximately $669,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Ballentine Partners LLC raised its stake in shares of Northern Trust by 4.4% in the fourth quarter. Ballentine Partners LLC now owns 2,483 shares of the asset manager's stock worth $255,000 after purchasing an additional 105 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Northern Trust by 24.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,061 shares of the asset manager's stock worth $2,286,000 after buying an additional 4,374 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Northern Trust by 9.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,296,442 shares of the asset manager's stock worth $386,809,000 after buying an additional 388,692 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in Northern Trust in the 4th quarter worth about $7,437,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in Northern Trust by 0.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,267,406 shares of the asset manager's stock valued at $129,909,000 after acquiring an additional 8,102 shares during the period. 83.19% of the stock is owned by institutional investors.
Northern Trust Price Performance
NASDAQ:NTRS traded down $0.62 during trading hours on Monday, hitting $105.78. 1,159,565 shares of the stock traded hands, compared to its average volume of 1,284,909. The company has a market cap of $20.58 billion, a price-to-earnings ratio of 10.82, a price-to-earnings-growth ratio of 1.72 and a beta of 1.18. Northern Trust Co. has a 1 year low of $79.68 and a 1 year high of $114.67. The stock has a 50 day moving average price of $96.31 and a 200 day moving average price of $103.22. The company has a quick ratio of 0.71, a current ratio of 0.68 and a debt-to-equity ratio of 0.58.
Northern Trust (NASDAQ:NTRS - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The asset manager reported $1.90 EPS for the quarter, beating the consensus estimate of $1.85 by $0.05. The firm had revenue of $1.95 billion for 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%. Sell-side analysts forecast that Northern Trust Co. will post 8.27 EPS for the current fiscal year.
Northern Trust Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 6th will be given a $0.75 dividend. The ex-dividend date is Friday, June 6th. This represents a $3.00 annualized dividend and a dividend yield of 2.84%. Northern Trust's payout ratio is 27.99%.
Analysts Set New Price Targets
A number of analysts have recently commented on the stock. UBS Group lifted their price target on shares of Northern Trust from $110.00 to $114.00 and gave the stock a "neutral" rating in a research note on Monday, January 27th. Wall Street Zen downgraded shares of Northern Trust from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. Morgan Stanley decreased their target price on shares of Northern Trust from $136.00 to $132.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 2nd. Wells Fargo & Company dropped their price target on Northern Trust from $118.00 to $111.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 23rd. Finally, Bank of America cut their price objective on Northern Trust from $123.00 to $121.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Northern Trust has a consensus rating of "Hold" and a consensus price target of $110.83.
Check Out Our Latest Analysis on Northern Trust
Insider Transactions at Northern Trust
In other news, EVP Clive Bellows sold 3,300 shares of Northern Trust 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 sale, the executive vice president now owns 28,736 shares in the company, valued at $2,872,163.20. This trade represents a 10.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Teresa Parker sold 6,467 shares of the business's stock in a transaction on Friday, May 9th. The stock was sold at an average price of $100.62, for a total transaction of $650,709.54. Following the completion of the transaction, the insider now directly owns 79,391 shares in the company, valued at $7,988,322.42. This trade represents a 7.53% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.77% of the company's stock.
Northern Trust Profile
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Free Report)
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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