Forum Financial Management LP acquired a new stake in shares of Northern Trust Co. (NASDAQ:NTRS - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 5,325 shares of the asset manager's stock, valued at approximately $546,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Y.D. More Investments Ltd raised its position 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 in the last quarter. Colonial Trust Co SC grew its stake in Northern Trust by 6,400.0% during 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 in the last quarter. Assetmark Inc. grew its stake in Northern Trust by 528.3% during the fourth quarter. Assetmark Inc. now owns 377 shares of the asset manager's stock worth $39,000 after buying an additional 317 shares in the last quarter. True Wealth Design LLC grew its stake in 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 buying an additional 194 shares in the last quarter. Finally, Coppell Advisory Solutions LLC acquired a new stake in shares of Northern Trust in the 4th quarter valued at approximately $44,000. Institutional investors and hedge funds own 83.19% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on NTRS. Evercore ISI decreased their price objective on Northern Trust from $104.00 to $100.00 and set an "in-line" rating for the company in a report on Wednesday, April 23rd. Truist Financial lowered their price objective on shares of Northern Trust from $98.00 to $92.00 and set a "hold" rating for the company in a research note on Wednesday, April 23rd. Citigroup reduced their price target on shares of Northern Trust from $110.00 to $105.00 and set a "neutral" rating for the company in a research report on Monday, March 24th. Wall Street Zen downgraded shares of Northern Trust from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. Finally, Bank of America cut their price objective on shares of Northern Trust from $123.00 to $121.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Northern Trust currently has an average rating of "Hold" and an average price target of $110.83.
Check Out Our Latest Report on NTRS
Insider Activity
In related news, EVP Clive Bellows sold 3,300 shares of the firm's 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 sale, the executive vice president now directly owns 28,736 shares of the company's stock, valued at approximately $2,872,163.20. This trade represents a 10.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Teresa Parker sold 6,467 shares of the firm's stock in a transaction dated Friday, May 9th. The shares were 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 $7,988,322.42. This trade represents a 7.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.77% of the company's stock.
Northern Trust Trading Down 1.4%
Shares of Northern Trust stock traded down $1.48 on Friday, reaching $105.84. The company had a trading volume of 963,436 shares, compared to its average volume of 1,292,337. The firm's 50-day moving average price is $96.92 and its two-hundred day moving average price is $103.29. Northern Trust Co. has a 1 year low of $79.68 and a 1 year high of $114.67. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.68 and a quick ratio of 0.71. The firm has a market cap of $20.59 billion, a price-to-earnings ratio of 10.82, a P/E/G ratio of 1.72 and a beta of 1.18.
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, topping analysts' consensus estimates of $1.85 by $0.05. The company had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.95 billion. Northern Trust had a net margin of 12.77% and a return on equity of 13.74%. As a group, research analysts predict that Northern Trust Co. will post 8.27 earnings per share for the current fiscal year.
Northern Trust Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 6th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.83%. Northern Trust's dividend payout ratio (DPR) is 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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