Toronto Dominion Bank Acquires 38,358 Shares of Northern Trust Co. (NASDAQ:NTRS)

Toronto Dominion Bank increased its stake in shares of Northern Trust Co. (NASDAQ:NTRS - Free Report) by 56.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 106,503 shares of the asset manager's stock after buying an additional 38,358 shares during the quarter. Toronto Dominion Bank owned 0.05% of Northern Trust worth $10,917,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Y.D. More Investments Ltd lifted its position in shares of Northern Trust by 118.4% during the 4th quarter. Y.D. More Investments Ltd now owns 249 shares of the asset manager's stock worth $26,000 after buying an additional 135 shares during the period. Colonial Trust Co SC raised its position in shares of 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 acquiring an additional 256 shares during the last quarter. Assetmark Inc. raised its position in shares of 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 acquiring an additional 317 shares during the last quarter. Coppell Advisory Solutions LLC bought a new stake in shares of Northern Trust during the fourth quarter worth $44,000. Finally, Proficio Capital Partners LLC bought a new stake in shares of Northern Trust during the fourth quarter worth $51,000. Institutional investors own 83.19% of the company's stock.

Insider Activity

In related news, EVP Clive Bellows sold 3,300 shares of the company'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 sale, the executive vice president now owns 28,736 shares in the company, valued at approximately $2,872,163.20. This represents a 10.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Teresa Parker sold 6,467 shares of the company's stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $100.62, for a total value of $650,709.54. Following the sale, the insider now owns 79,391 shares in the company, valued at $7,988,322.42. The trade was a 7.53% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.77% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on NTRS shares. Wall Street Zen cut Northern Trust from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. Bank of America decreased their price objective on Northern Trust from $123.00 to $121.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. Wells Fargo & Company decreased 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. Evercore ISI decreased their target price on Northern Trust from $104.00 to $100.00 and set an "in-line" rating for the company in a research note on Wednesday, April 23rd. Finally, UBS Group boosted their target price on Northern Trust from $110.00 to $114.00 and gave the company a "neutral" rating in a research note on Monday, January 27th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $110.83.

Northern Trust Stock Down 0.6%

Shares of Northern Trust stock traded down $0.62 during trading on Friday, reaching $105.78. The stock had a trading volume of 1,159,565 shares, compared to its average volume of 1,281,986. The company has a market capitalization of $20.58 billion, a price-to-earnings ratio of 10.82, a P/E/G ratio of 1.72 and a beta of 1.18. The stock has a fifty day moving average price of $96.31 and a two-hundred day moving average price of $103.25. Northern Trust Co. has a 52 week low of $79.68 and a 52 week 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.

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

Northern Trust Dividend Announcement

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 issued a $0.75 dividend. The ex-dividend date is Friday, June 6th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.84%. Northern Trust's dividend payout ratio (DPR) is 27.99%.

About Northern Trust

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.