Toronto Dominion Bank increased its stake in shares of Northern Trust Co. (NASDAQ:NTRS - Free Report) by 56.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 106,503 shares of the asset manager's stock after acquiring an additional 38,358 shares during the period. Toronto Dominion Bank owned 0.05% of Northern Trust worth $10,917,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in NTRS. Y.D. More Investments Ltd boosted its position in Northern Trust by 118.4% during the fourth quarter. Y.D. More Investments Ltd now owns 249 shares of the asset manager's stock worth $26,000 after purchasing an additional 135 shares during the period. Colonial Trust Co SC lifted its stake in shares of Northern Trust by 6,400.0% in the fourth quarter. Colonial Trust Co SC now owns 260 shares of the asset manager's stock worth $27,000 after buying an additional 256 shares during the last quarter. Assetmark Inc. boosted its holdings in shares of Northern Trust by 528.3% during the 4th quarter. Assetmark Inc. now owns 377 shares of the asset manager's stock worth $39,000 after buying an additional 317 shares during the period. Coppell Advisory Solutions LLC bought a new stake in shares of Northern Trust during the 4th quarter worth $44,000. Finally, Proficio Capital Partners LLC acquired a new position in Northern Trust in the 4th quarter valued at $51,000. Institutional investors and hedge funds own 83.19% of the company's stock.
Analyst Ratings Changes
A number of brokerages have recently commented on NTRS. Royal Bank of Canada cut their price target on Northern Trust from $115.00 to $105.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. Truist Financial dropped their target price on shares of Northern Trust from $98.00 to $92.00 and set a "hold" rating on the stock in a research report on Wednesday, April 23rd. Bank of America reduced their price target on shares of Northern Trust from $123.00 to $121.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. Wells Fargo & Company decreased their price target on shares of Northern Trust from $118.00 to $111.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 23rd. Finally, Citigroup cut their price objective on shares of Northern Trust from $110.00 to $105.00 and set a "neutral" rating for the company in a research report on Monday, March 24th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $110.83.
Check Out Our Latest Research Report on NTRS
Northern Trust Price Performance
Shares of NASDAQ:NTRS traded down $0.62 during midday trading on Monday, reaching $105.78. 1,159,565 shares of the company's stock were exchanged, compared to its average volume of 1,284,909. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.68. The company's 50 day simple moving average is $96.31 and its two-hundred day simple moving average is $103.22. Northern Trust Co. has a 12 month low of $79.68 and a 12 month high of $114.67. The firm has a market capitalization of $20.58 billion, a PE ratio of 10.82, 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 EPS for the quarter, topping analysts' consensus estimates of $1.85 by $0.05. The firm had revenue of $1.95 billion during the quarter, compared to analysts' expectations of $1.95 billion. Northern Trust had a net margin of 12.77% and a return on equity of 13.74%. Equities research analysts expect that Northern Trust Co. will post 8.27 earnings per share for the current fiscal year.
Northern Trust Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 6th will be given 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 2.84%. Northern Trust's dividend payout ratio (DPR) is presently 27.99%.
Insider Activity at Northern Trust
In related news, insider Teresa Parker sold 6,467 shares of the 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 completion of the sale, the insider now owns 79,391 shares in the company, valued at $7,988,322.42. This trade represents a 7.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Clive Bellows sold 3,300 shares of Northern Trust stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $99.95, for a total transaction of $329,835.00. Following the transaction, the executive vice president now directly owns 28,736 shares of the company's stock, valued at $2,872,163.20. This represents a 10.30% 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.
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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