Rhumbline Advisers Grows Stock Position in Northern Trust Co. (NASDAQ:NTRS)

Rhumbline Advisers grew its stake in Northern Trust Co. (NASDAQ:NTRS - Free Report) by 5.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 373,515 shares of the asset manager's stock after buying an additional 20,531 shares during the quarter. Rhumbline Advisers owned approximately 0.19% of Northern Trust worth $36,847,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in NTRS. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Northern Trust by 24.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,061 shares of the asset manager's stock valued at $2,286,000 after buying an additional 4,374 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Northern Trust by 9.9% in the third quarter. JPMorgan Chase & Co. now owns 4,296,442 shares of the asset manager's stock worth $386,809,000 after buying an additional 388,692 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Northern Trust in the fourth quarter worth about $7,437,000. Charles Schwab Investment Management Inc. boosted its stake in Northern Trust by 0.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,267,406 shares of the asset manager's stock valued at $129,909,000 after buying an additional 8,102 shares during the last quarter. Finally, AustralianSuper Pty Ltd grew its holdings in Northern Trust by 16.7% during the 4th quarter. AustralianSuper Pty Ltd now owns 91,222 shares of the asset manager's stock valued at $9,350,000 after buying an additional 13,081 shares in the last quarter. Institutional investors own 83.19% of the company's stock.

Analyst Ratings Changes

Several research firms have recently issued reports on NTRS. Royal Bank of Canada lowered their price objective on Northern Trust from $115.00 to $105.00 and set an "outperform" rating for the company in a research note on Wednesday, April 23rd. Citigroup lowered their price target on Northern Trust from $110.00 to $105.00 and set a "neutral" rating for the company in a research report on Monday, March 24th. Truist Financial dropped 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. Evercore ISI reduced their target price on shares of 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, Morgan Stanley restated an "underweight" rating and issued a $103.00 target price (up previously from $101.00) on shares of Northern Trust in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $108.42.

Insiders Place Their Bets

In other news, EVP Clive Bellows sold 3,300 shares of Northern Trust stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $99.95, for a total value of $329,835.00. Following the transaction, the executive vice president now directly owns 28,736 shares in the company, valued at approximately $2,872,163.20. This trade represents a 10.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, 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 sale, the insider now directly owns 79,391 shares in the company, valued at approximately $7,988,322.42. The trade was a 7.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,772 shares of company stock worth $981,069 in the last three months. Corporate insiders own 0.77% of the company's stock.

Northern Trust Trading Up 1.4%

NTRS stock traded up $1.44 during trading on Friday, hitting $107.91. The company had a trading volume of 1,197,874 shares, compared to its average volume of 1,291,593. Northern Trust Co. has a 52-week low of $79.68 and a 52-week high of $114.67. The company has a 50 day simple moving average of $97.57 and a 200-day simple moving average of $103.26. The firm has a market capitalization of $20.99 billion, a P/E ratio of 11.03, a PEG ratio of 1.72 and a beta of 1.22. The company has a quick ratio of 0.71, a current ratio of 0.68 and a debt-to-equity ratio of 0.58.

Northern Trust (NASDAQ:NTRS - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The asset manager reported $1.90 EPS for the quarter, topping analysts' consensus estimates of $1.85 by $0.05. Northern Trust had a net margin of 12.77% and a return on equity of 13.74%. The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.95 billion. As a group, research analysts forecast that Northern Trust Co. will post 8.27 earnings per share for the current fiscal year.

Northern Trust Announces Dividend

The company 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 dividend of $0.75 per share. The ex-dividend date is Friday, June 6th. This represents a $3.00 annualized dividend and a dividend yield of 2.78%. Northern Trust's dividend payout ratio is currently 27.99%.

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.