Vest Financial LLC purchased a new stake in Northern Trust Co. (NASDAQ:NTRS - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 115,073 shares of the asset manager's stock, valued at approximately $11,352,000. Vest Financial LLC owned about 0.06% of Northern Trust at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Czech National Bank lifted its stake in shares of Northern Trust by 4.7% during the 1st quarter. Czech National Bank now owns 45,011 shares of the asset manager's stock worth $4,440,000 after buying an additional 2,033 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of Northern Trust by 5.8% during the 1st quarter. Rhumbline Advisers now owns 373,515 shares of the asset manager's stock worth $36,847,000 after buying an additional 20,531 shares during the last quarter. Parallel Advisors LLC lifted its stake in shares of Northern Trust by 11.4% during the 1st quarter. Parallel Advisors LLC now owns 1,773 shares of the asset manager's stock worth $175,000 after buying an additional 182 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Northern Trust by 10,340.5% during the 1st quarter. GAMMA Investing LLC now owns 445,602 shares of the asset manager's stock worth $43,959,000 after buying an additional 441,334 shares during the last quarter. Finally, Quent Capital LLC lifted its stake in shares of Northern Trust by 171.2% during the 1st quarter. Quent Capital LLC now owns 2,533 shares of the asset manager's stock worth $250,000 after buying an additional 1,599 shares during the last quarter. Institutional investors and hedge funds own 83.19% of the company's stock.
Wall Street Analysts Forecast Growth
NTRS has been the subject of a number of research reports. Citigroup cut their target price on shares of Northern Trust from $110.00 to $105.00 and set a "neutral" rating for the company in a research note on Monday, March 24th. Bank of America cut their target price on shares of Northern Trust from $123.00 to $121.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. Truist Financial cut their target price on shares of Northern Trust from $98.00 to $92.00 and set a "hold" rating for the company in a research note on Wednesday, April 23rd. Morgan Stanley restated an "underweight" rating and set a $103.00 target price (up previously from $101.00) on shares of Northern Trust in a research note on Tuesday, June 3rd. Finally, Evercore ISI lowered their price target on shares of 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. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Northern Trust has a consensus rating of "Hold" and an average target price of $108.42.
Check Out Our Latest Stock Analysis on Northern Trust
Northern Trust Price Performance
NTRS stock traded up $1.44 during mid-day trading on Friday, hitting $107.91. The stock had a trading volume of 1,197,874 shares, compared to its average volume of 1,294,221. 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 Co. has a 52 week low of $79.68 and a 52 week high of $114.67. The firm has a market capitalization of $20.99 billion, a P/E ratio of 11.03, a P/E/G ratio of 1.72 and a beta of 1.22. The firm has a fifty day simple moving average of $97.77 and a 200 day simple moving average of $103.23.
Northern Trust (NASDAQ:NTRS - Get Free Report) last released its 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 12.77% and a return on equity of 13.74%. The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.95 billion. As a group, research analysts forecast that Northern Trust Co. will post 8.27 EPS for the current year.
Northern Trust Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 6th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 2.78%. The ex-dividend date is Friday, June 6th. Northern Trust's dividend payout ratio is currently 27.99%.
Insider Buying and Selling at Northern Trust
In related news, EVP Clive Bellows sold 3,300 shares of the business's stock in a transaction 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 transaction, the executive vice president now owns 28,736 shares in the company, valued at $2,872,163.20. The trade was a 10.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Teresa Parker sold 6,467 shares of the company's stock in a transaction 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 transaction, the insider now owns 79,391 shares in the company, valued at approximately $7,988,322.42. The trade was a 7.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,772 shares of company stock valued at $981,069 in the last ninety days. 0.77% of the stock is currently owned by company insiders.
Northern Trust Company Profile
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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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