2,849 Shares in Northern Trust Co. (NASDAQ:NTRS) Purchased by Ascent Group LLC

Ascent Group LLC purchased a new stake in shares of Northern Trust Co. (NASDAQ:NTRS - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,849 shares of the asset manager's stock, valued at approximately $292,000.

A number of other institutional investors and hedge funds have also modified their holdings of NTRS. Y.D. More Investments Ltd grew its stake in Northern Trust by 118.4% in the fourth quarter. Y.D. More Investments Ltd now owns 249 shares of the asset manager's stock valued at $26,000 after purchasing an additional 135 shares in the last quarter. Colonial Trust Co SC lifted its position in shares of Northern Trust by 6,400.0% in the fourth quarter. Colonial Trust Co SC now owns 260 shares of the asset manager's stock worth $27,000 after buying an additional 256 shares during the last quarter. Assetmark Inc. lifted its position in shares of Northern Trust by 528.3% in the fourth quarter. Assetmark Inc. now owns 377 shares of the asset manager's stock worth $39,000 after buying an additional 317 shares during the last quarter. True Wealth Design LLC lifted its position in shares of Northern Trust by 84.0% in the fourth quarter. True Wealth Design LLC now owns 425 shares of the asset manager's stock worth $44,000 after buying an additional 194 shares during the last quarter. Finally, Coppell Advisory Solutions LLC acquired a new stake in shares of Northern Trust in the fourth quarter worth about $44,000. Hedge funds and other institutional investors own 83.19% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on NTRS. Truist Financial cut their price objective on Northern Trust from $98.00 to $92.00 and set a "hold" rating for the company in a research report on Wednesday, April 23rd. Wells Fargo & Company cut their price objective on Northern Trust from $118.00 to $111.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 23rd. Evercore ISI lowered 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. Wall Street Zen lowered Northern Trust from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. Finally, Royal Bank of Canada lowered their price target on Northern Trust from $115.00 to $105.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Northern Trust presently has an average rating of "Hold" and an average target price of $110.83.

Northern Trust Trading Down 1.1%

NASDAQ:NTRS traded down $1.14 during trading hours on Friday, hitting $106.18. 3,646,838 shares of the stock were exchanged, compared to its average volume of 1,299,625. The company's 50 day moving average is $97.01 and its two-hundred day moving average is $103.28. 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 company has a market capitalization of $20.66 billion, a P/E ratio of 10.86, a price-to-earnings-growth ratio of 1.72 and a beta of 1.18.

Northern Trust (NASDAQ:NTRS - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The asset manager reported $1.90 earnings per share for the quarter, beating analysts' consensus estimates of $1.85 by $0.05. The company had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.95 billion. Northern Trust had a return on equity of 13.74% and a net margin of 12.77%. On average, sell-side analysts anticipate that Northern Trust Co. will post 8.27 earnings per share for the current fiscal year.

Northern Trust Announces Dividend

The business also recently declared 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. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date is Friday, June 6th. Northern Trust's dividend payout ratio (DPR) is currently 27.99%.

Insider Buying and Selling

In other Northern Trust news, EVP Clive Bellows sold 3,300 shares of the stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $99.95, for a total transaction of $329,835.00. Following the completion of the transaction, the executive vice president now owns 28,736 shares in the company, valued at approximately $2,872,163.20. This represents a 10.30% decrease in their position. The transaction 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 stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $100.62, for a total value of $650,709.54. Following the transaction, the insider now owns 79,391 shares of the company's stock, valued at approximately $7,988,322.42. This trade represents a 7.53% decrease in their position. The disclosure for this sale can be found here. 0.77% of the stock is currently owned by company insiders.

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.