Northern Trust Corp Raises Position in Root, Inc. (NASDAQ:ROOT)

Northern Trust Corp boosted its holdings in shares of Root, Inc. (NASDAQ:ROOT - Free Report) by 6.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 75,159 shares of the company's stock after buying an additional 4,607 shares during the quarter. Northern Trust Corp owned approximately 0.50% of Root worth $5,456,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. MetLife Investment Management LLC grew its holdings in Root by 5.0% in the fourth quarter. MetLife Investment Management LLC now owns 5,382 shares of the company's stock worth $391,000 after purchasing an additional 255 shares during the last quarter. Legal & General Group Plc grew its holdings in Root by 3.6% in the fourth quarter. Legal & General Group Plc now owns 7,955 shares of the company's stock worth $577,000 after purchasing an additional 273 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in Root by 651.8% in the fourth quarter. Russell Investments Group Ltd. now owns 421 shares of the company's stock worth $31,000 after purchasing an additional 365 shares during the last quarter. Aquatic Capital Management LLC grew its holdings in Root by 92.1% in the fourth quarter. Aquatic Capital Management LLC now owns 1,537 shares of the company's stock worth $112,000 after purchasing an additional 737 shares during the last quarter. Finally, Alliancebernstein L.P. grew its holdings in Root by 9.2% in the fourth quarter. Alliancebernstein L.P. now owns 10,100 shares of the company's stock worth $733,000 after purchasing an additional 850 shares during the last quarter. 59.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ROOT. Keefe, Bruyette & Woods lifted their price target on shares of Root from $150.00 to $170.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. UBS Group lifted their price target on shares of Root from $67.00 to $130.00 and gave the stock a "neutral" rating in a report on Friday, March 7th. Wall Street Zen raised shares of Root from a "hold" rating to a "buy" rating in a report on Thursday. Scotiabank reaffirmed a "sector perform" rating on shares of Root in a report on Sunday, March 2nd. Finally, Wells Fargo & Company lifted their price target on shares of Root from $105.00 to $142.00 and gave the stock an "equal weight" rating in a report on Thursday, May 8th. Six equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $122.17.

Insider Activity at Root

In related news, Director Doug Ulman sold 2,000 shares of the business's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $175.00, for a total transaction of $350,000.00. Following the completion of the transaction, the director now directly owns 6,201 shares in the company, valued at $1,085,175. The trade was a 24.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Meyer Malka sold 225,000 shares of the business's stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $135.81, for a total transaction of $30,557,250.00. Following the transaction, the insider now owns 503,800 shares of the company's stock, valued at $68,421,078. This represents a 30.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 233,659 shares of company stock worth $31,748,719 over the last three months. Company insiders own 11.76% of the company's stock.

Root Stock Performance

Shares of NASDAQ:ROOT traded down $0.40 on Friday, hitting $129.60. 242,269 shares of the company were exchanged, compared to its average volume of 513,029. Root, Inc. has a 1-year low of $34.04 and a 1-year high of $181.14. The stock's 50 day moving average price is $136.87 and its 200 day moving average price is $111.23. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.65. The firm has a market capitalization of $1.99 billion, a P/E ratio of -105.37 and a beta of 2.40.

Root (NASDAQ:ROOT - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $1.07 EPS for the quarter, topping the consensus estimate of $0.45 by $0.62. Root had a negative net margin of 1.56% and a negative return on equity of 9.81%. The business had revenue of $349.40 million during the quarter, compared to the consensus estimate of $305.24 million. During the same period in the previous year, the firm posted ($0.42) earnings per share. The business's revenue for the quarter was up 37.2% compared to the same quarter last year. Sell-side analysts predict that Root, Inc. will post -0.08 EPS for the current year.

Root Profile

Root, Inc provides insurance products and services in the United States. The company offers automobile, homeowners, and renters insurance products. It operates a direct-to-consumer model; and serves customers primarily through mobile applications, as well as through its website. The company's direct distribution channels also cover digital, media, and referral channels, as well as distribution partners and agencies.