Toronto Dominion Bank lifted its stake in Northern Trust Co. (NASDAQ:NTRS - Free Report) by 56.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in NTRS. JPMorgan Chase & Co. raised its position in shares of Northern Trust by 9.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,296,442 shares of the asset manager's stock worth $386,809,000 after acquiring an additional 388,692 shares in the last quarter. Blue Trust Inc. raised its position in shares of Northern Trust by 6.2% in the 4th quarter. Blue Trust Inc. now owns 3,015 shares of the asset manager's stock worth $309,000 after acquiring an additional 176 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of Northern Trust by 6.1% in the 4th quarter. Pacer Advisors Inc. now owns 15,855 shares of the asset manager's stock worth $1,625,000 after acquiring an additional 905 shares in the last quarter. R Squared Ltd acquired a new position in Northern Trust during the 4th quarter valued at about $82,000. Finally, Robeco Institutional Asset Management B.V. increased its position in Northern Trust by 62.8% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 678,461 shares of the asset manager's stock valued at $69,542,000 after buying an additional 261,797 shares in the last quarter. 83.19% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
NTRS has been the topic of several recent analyst reports. Truist Financial reduced their target price on Northern Trust from $98.00 to $92.00 and set a "hold" rating on the stock in a research report on Wednesday, April 23rd. Citigroup reduced their target price on Northern Trust from $110.00 to $105.00 and set a "neutral" rating on the stock in a research report on Monday, March 24th. Evercore ISI reduced their target price on Northern Trust from $104.00 to $100.00 and set an "in-line" rating on the stock in a research report on Wednesday, April 23rd. Wells Fargo & Company reduced their target price on 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, Bank of America reduced their target price on Northern Trust from $123.00 to $121.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $110.83.
Read Our Latest Stock Analysis on NTRS
Northern Trust Stock Performance
Shares of NTRS traded down $0.43 during mid-day trading on Monday, reaching $106.31. The company had a trading volume of 1,063,721 shares, compared to its average volume of 1,294,983. Northern Trust Co. has a 52-week low of $79.68 and a 52-week high of $114.67. The company has a quick ratio of 0.71, a current ratio of 0.68 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $20.68 billion, a P/E ratio of 10.87, a PEG ratio of 1.72 and a beta of 1.18. The stock has a 50 day moving average of $97.11 and a two-hundred day moving average of $103.23.
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 return on equity of 13.74% and a net margin of 12.77%. The firm had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.95 billion. On average, analysts expect that Northern Trust Co. will post 8.27 earnings per share for the current year.
Northern Trust Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 6th will be paid a $0.75 dividend. 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 2.82%. Northern Trust's payout ratio is 27.99%.
Insider Transactions at Northern Trust
In other Northern Trust news, EVP Clive Bellows sold 3,300 shares of the stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $99.95, for a total transaction of $329,835.00. Following the transaction, 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Teresa Parker sold 6,467 shares of the stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $100.62, for a total value of $650,709.54. Following the transaction, the insider now owns 79,391 shares in the company, valued at $7,988,322.42. This represents a 7.53% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.77% of the company's stock.
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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