Neo Ivy Capital Management Boosts Holdings in Northern Trust Co. (NASDAQ:NTRS)

Neo Ivy Capital Management grew its position in shares of Northern Trust Co. (NASDAQ:NTRS - Free Report) by 48.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,756 shares of the asset manager's stock after purchasing an additional 6,082 shares during the period. Neo Ivy Capital Management's holdings in Northern Trust were worth $1,922,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Sunbelt Securities Inc. lifted its position in Northern Trust by 1,103.3% in the 4th quarter. Sunbelt Securities Inc. now owns 722 shares of the asset manager's stock worth $74,000 after buying an additional 662 shares during the last quarter. GTS Securities LLC raised its stake in shares of Northern Trust by 291.2% during the fourth quarter. GTS Securities LLC now owns 3,948 shares of the asset manager's stock worth $405,000 after acquiring an additional 6,013 shares in the last quarter. City National Bank of Florida MSD bought a new stake in shares of Northern Trust in the 4th quarter worth approximately $315,000. Harmony Asset Management LLC purchased a new stake in shares of Northern Trust in the 4th quarter valued at $236,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Northern Trust by 9.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,727,365 shares of the asset manager's stock valued at $177,055,000 after purchasing an additional 150,274 shares during the last quarter. 83.19% of the stock is currently owned by hedge funds and other institutional investors.

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 transaction 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 filing with the SEC, which is accessible through the SEC website. Also, insider Teresa Parker sold 6,467 shares of Northern Trust stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $100.62, for a total transaction of $650,709.54. Following the transaction, the insider now directly 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 ownership of the stock. The disclosure for this sale can be found here. 0.77% of the stock is owned by insiders.

Northern Trust Trading Down 1.8%

NASDAQ NTRS traded down $1.94 during trading on Wednesday, hitting $107.02. The company had a trading volume of 1,150,888 shares, compared to its average volume of 1,285,130. The company's fifty day moving average is $96.64 and its 200-day moving average is $103.26. Northern Trust Co. has a one year low of $79.68 and a one year high of $114.67. The company has a current ratio of 0.68, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The company has a market cap of $20.82 billion, a price-to-earnings ratio of 10.96, 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 results on Tuesday, April 22nd. The asset manager reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.05. Northern Trust had a net margin of 12.77% and a return on equity of 13.74%. The company had revenue of $1.95 billion for the quarter, compared to analysts' expectations of $1.95 billion. On average, sell-side analysts predict that Northern Trust Co. will post 8.27 earnings per share for the current year.

Northern Trust Announces Dividend

The company also recently announced 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 2.80%. The ex-dividend date of this dividend is Friday, June 6th. Northern Trust's payout ratio is presently 27.99%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Bank of America lowered their price target on shares of Northern Trust from $123.00 to $121.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. Truist Financial lowered their target price on Northern Trust from $98.00 to $92.00 and set a "hold" rating for the company in a research note on Wednesday, April 23rd. Royal Bank of Canada reduced their price target on Northern Trust from $115.00 to $105.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. Evercore ISI decreased 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, Wells Fargo & Company dropped their price objective on Northern Trust from $118.00 to $111.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $110.83.

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.