Agate Pass Investment Management LLC Purchases 4,100 Shares of Northern Trust Co. (NASDAQ:NTRS)

Agate Pass Investment Management LLC raised its position in Northern Trust Co. (NASDAQ:NTRS - Free Report) by 78.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,345 shares of the asset manager's stock after acquiring an additional 4,100 shares during the quarter. Agate Pass Investment Management LLC's holdings in Northern Trust were worth $922,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the stock. Ellevest Inc. raised its stake in shares of Northern Trust by 3.4% during the fourth quarter. Ellevest Inc. now owns 3,410 shares of the asset manager's stock valued at $350,000 after purchasing an additional 113 shares in the last quarter. Bradley Foster & Sargent Inc. CT raised its stake in shares of Northern Trust by 2.4% during the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 4,774 shares of the asset manager's stock valued at $489,000 after purchasing an additional 114 shares in the last quarter. Y.D. More Investments Ltd grew its holdings in Northern Trust by 118.4% during the fourth quarter. Y.D. More Investments Ltd now owns 249 shares of the asset manager's stock worth $26,000 after acquiring an additional 135 shares during the period. Moors & Cabot Inc. grew its holdings in Northern Trust by 4.0% during the fourth quarter. Moors & Cabot Inc. now owns 3,560 shares of the asset manager's stock worth $365,000 after acquiring an additional 137 shares during the period. Finally, Steward Partners Investment Advisory LLC grew its holdings in Northern Trust by 29.8% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 597 shares of the asset manager's stock worth $61,000 after acquiring an additional 137 shares during the period. Institutional investors and hedge funds own 83.19% of the company's stock.

Insider Buying and Selling

In other news, EVP Clive Bellows sold 3,300 shares of the business's stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $99.95, for a total value of $329,835.00. Following the sale, the executive vice president now owns 28,736 shares in the company, valued at approximately $2,872,163.20. The trade was a 10.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Teresa Parker sold 6,467 shares of the business's stock in a transaction on Friday, May 9th. The shares were sold at an average price of $100.62, for a total transaction of $650,709.54. Following the completion of the sale, the insider now owns 79,391 shares in the company, valued at $7,988,322.42. This represents a 7.53% decrease in their position. The disclosure for this sale can be found here. 0.77% of the stock is owned by company insiders.

Northern Trust Stock Performance

NTRS stock traded up $0.75 during midday trading on Tuesday, hitting $107.06. 496,943 shares of the company traded hands, compared to its average volume of 1,291,907. Northern Trust Co. has a twelve month low of $79.68 and a twelve month 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 business has a 50 day simple moving average of $97.11 and a 200-day simple moving average of $103.23. The stock has a market capitalization of $20.83 billion, a price-to-earnings ratio of 10.95, a price-to-earnings-growth ratio of 1.72 and a beta of 1.18.

Northern Trust (NASDAQ:NTRS - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The asset manager reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.05. The business 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%. As a group, equities research analysts predict that Northern Trust Co. will post 8.27 earnings per share for the current year.

Northern Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 6th will be paid a $0.75 dividend. The ex-dividend date is Friday, June 6th. This represents a $3.00 annualized dividend and a dividend yield of 2.80%. Northern Trust's payout ratio is 27.99%.

Analyst Upgrades and Downgrades

NTRS has been the topic of a number of research analyst reports. Morgan Stanley lifted their target price on Northern Trust from $101.00 to $103.00 and gave the stock an "underweight" rating in a report on Tuesday. Wall Street Zen lowered Northern Trust from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Wells Fargo & Company lowered their target price on Northern Trust from $118.00 to $111.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 23rd. Evercore ISI dropped their price target on Northern Trust from $104.00 to $100.00 and set an "in-line" rating on the stock in a research note on Wednesday, April 23rd. Finally, Citigroup dropped their price target on Northern Trust from $110.00 to $105.00 and set a "neutral" rating on the stock in a research note on Monday, March 24th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $108.42.

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.