Brown Miller Wealth Management LLC purchased a new stake in Northern Trust Co. (NASDAQ:NTRS - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 3,554 shares of the asset manager's stock, valued at approximately $351,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Colonial Trust Co SC raised 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 valued at $27,000 after purchasing an additional 256 shares during the period. Assetmark Inc. raised its holdings in Northern Trust by 528.3% in the 4th quarter. Assetmark Inc. now owns 377 shares of the asset manager's stock valued at $39,000 after acquiring an additional 317 shares during the period. Coppell Advisory Solutions LLC acquired a new stake in Northern Trust during the fourth quarter worth approximately $44,000. True Wealth Design LLC boosted its holdings in shares of Northern Trust by 84.0% during the fourth quarter. True Wealth Design LLC now owns 425 shares of the asset manager's stock worth $44,000 after acquiring an additional 194 shares during the period. Finally, Proficio Capital Partners LLC acquired a new position in shares of Northern Trust in the fourth quarter valued at approximately $51,000. Institutional investors own 83.19% of the company's stock.
Insider Buying and Selling
In other Northern Trust news, 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 sale, the insider now owns 79,391 shares of the company's stock, valued at approximately $7,988,322.42. The trade was a 7.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Clive Bellows sold 3,300 shares of the 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 completion of the transaction, the executive vice president now owns 28,736 shares of the company's stock, valued at $2,872,163.20. The trade was a 10.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,772 shares of company stock worth $981,069 in the last three months. 0.77% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
Several analysts recently issued reports on NTRS shares. Wall Street Zen downgraded Northern Trust from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. Truist Financial reduced their target price on shares of Northern Trust from $98.00 to $92.00 and set a "hold" rating for the company in a research report on Wednesday, April 23rd. Bank of America lowered their price target on shares of Northern Trust from $123.00 to $121.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. Wells Fargo & Company cut their price objective on shares of Northern Trust from $118.00 to $111.00 and set an "equal weight" rating for the company in a report on Wednesday, April 23rd. Finally, Morgan Stanley reaffirmed an "underweight" rating and set a $103.00 target price (up from $101.00) on shares of Northern Trust in a report on Tuesday, June 3rd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Northern Trust currently has an average rating of "Hold" and a consensus target price of $108.42.
View Our Latest Analysis on NTRS
Northern Trust Price Performance
Shares of NTRS stock traded down $1.28 during trading hours on Tuesday, reaching $109.63. The company's stock had a trading volume of 1,817,306 shares, compared to its average volume of 1,301,841. Northern Trust Co. has a fifty-two week low of $80.45 and a fifty-two week high of $114.67. The firm's 50 day simple moving average is $100.27 and its 200-day simple moving average is $103.13. 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 $21.33 billion, a price-to-earnings ratio of 11.21, a PEG ratio of 1.72 and a beta of 1.22.
Northern Trust (NASDAQ:NTRS - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The asset manager reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.05. The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.95 billion. Northern Trust had a return on equity of 13.74% and a net margin of 12.77%. Sell-side analysts forecast that Northern Trust Co. will post 8.27 earnings per share for the current year.
Northern Trust Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 6th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 2.74%. The ex-dividend date is Friday, June 6th. Northern Trust's dividend payout ratio (DPR) is presently 27.99%.
About Northern Trust
(
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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