Assenagon Asset Management S.A. increased its holdings in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 598.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 27,506 shares of the asset manager's stock after purchasing an additional 23,567 shares during the period. Assenagon Asset Management S.A.'s holdings in Northern Trust were worth $2,713,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently added to or reduced their stakes in the company. Ellevest Inc. boosted its position in Northern Trust by 3.4% in the 4th quarter. Ellevest Inc. now owns 3,410 shares of the asset manager's stock valued at $350,000 after buying an additional 113 shares during the last quarter. Bradley Foster & Sargent Inc. CT raised its stake in shares of Northern Trust by 2.4% in the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 4,774 shares of the asset manager's stock valued at $489,000 after purchasing an additional 114 shares in the last quarter. Moors & Cabot Inc. raised its stake in shares of Northern Trust by 4.0% in the 4th quarter. Moors & Cabot Inc. now owns 3,560 shares of the asset manager's stock valued at $365,000 after purchasing an additional 137 shares in the last quarter. Steward Partners Investment Advisory LLC raised its stake in shares of Northern Trust by 29.8% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 597 shares of the asset manager's stock valued at $61,000 after purchasing an additional 137 shares in the last quarter. Finally, Parallel Advisors LLC raised its stake in shares of Northern Trust by 11.4% in the 1st quarter. Parallel Advisors LLC now owns 1,773 shares of the asset manager's stock valued at $175,000 after purchasing an additional 182 shares in the last quarter. 83.19% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
NTRS has been the topic of a number of recent analyst reports. 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 research note on Tuesday, June 3rd. Wells Fargo & Company lowered their target price on shares of 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. Bank of America dropped their target price 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. Citigroup decreased their price target on shares of Northern Trust from $110.00 to $105.00 and set a "neutral" rating for the company in a report on Monday, March 24th. Finally, Evercore ISI dropped their price objective 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. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $108.42.
View Our Latest Analysis on NTRS
Insider Activity at Northern Trust
In related news, EVP Clive Bellows sold 3,300 shares of the firm's stock in a transaction that occurred 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 completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Teresa Parker sold 6,467 shares of the firm's stock in a transaction that occurred on Friday, May 9th. The stock was 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 $7,988,322.42. The trade was a 7.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,772 shares of company stock worth $981,069 over the last quarter. 0.77% of the stock is currently owned by company insiders.
Northern Trust Stock Performance
Shares of NASDAQ:NTRS traded up $1.35 during trading hours on Wednesday, hitting $110.98. The stock had a trading volume of 2,392,133 shares, compared to its average volume of 1,578,553. The stock's fifty day simple moving average is $100.60 and its 200 day simple moving average is $103.17. Northern Trust Corporation has a 1-year low of $80.81 and a 1-year high of $114.67. The firm has a market capitalization of $21.59 billion, a price-to-earnings ratio of 13.88, a PEG ratio of 1.66 and a beta of 1.22. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.71 and a current ratio of 0.71.
Northern Trust (NASDAQ:NTRS - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The asset manager reported $1.90 EPS for the quarter, beating the consensus estimate of $1.85 by $0.05. Northern Trust had a net margin of 13.93% and a return on equity of 13.73%. The company had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.95 billion. Sell-side analysts anticipate that Northern Trust Corporation will post 8.27 earnings per share for the current fiscal year.
Northern Trust Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 6th will be paid 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 2.70%. Northern Trust's dividend payout ratio 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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