Vest Financial LLC Takes Position in Northern Trust Co. (NASDAQ:NTRS)

Vest Financial LLC bought a new position in Northern Trust Co. (NASDAQ:NTRS - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 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 hedge funds also recently bought and sold shares of the company. Ellevest Inc. raised its stake in shares of Northern Trust by 3.4% during the fourth quarter. Ellevest Inc. now owns 3,410 shares of the asset manager's stock worth $350,000 after acquiring an additional 113 shares in the last quarter. Bradley Foster & Sargent Inc. CT raised its position in Northern Trust by 2.4% in the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 4,774 shares of the asset manager's stock worth $489,000 after purchasing an additional 114 shares during the period. Y.D. More Investments Ltd raised its position in Northern Trust by 118.4% in the 4th 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. Moors & Cabot Inc. lifted its stake in Northern Trust by 4.0% in the fourth quarter. Moors & Cabot Inc. now owns 3,560 shares of the asset manager's stock worth $365,000 after purchasing an additional 137 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC boosted its position in Northern Trust by 29.8% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 597 shares of the asset manager's stock valued at $61,000 after buying an additional 137 shares during the period. Institutional investors own 83.19% of the company's stock.

Wall Street Analysts Forecast Growth

NTRS has been the subject of a number of recent research reports. Evercore ISI lowered 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. Truist Financial reduced their price target on Northern Trust from $98.00 to $92.00 and set a "hold" rating on the stock in a report on Wednesday, April 23rd. Royal Bank of Canada dropped their price objective on Northern Trust from $115.00 to $105.00 and set an "outperform" rating for the company in a 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 note on Monday, March 24th. Finally, 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 report on Tuesday, June 3rd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $108.42.

Northern Trust Stock Up 1.1%

NTRS stock traded up $1.17 during trading on Tuesday, hitting $109.91. 2,421,535 shares of the stock traded hands, compared to its average volume of 1,300,452. The stock has a market cap of $21.38 billion, a price-to-earnings ratio of 11.24, a price-to-earnings-growth ratio of 1.72 and a beta of 1.22. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.68 and a quick ratio of 0.71. Northern Trust Co. has a 1 year low of $79.68 and a 1 year high of $114.67. The firm's 50 day moving average is $98.36 and its two-hundred day moving average is $103.23.

Northern Trust (NASDAQ:NTRS - Get Free Report) last posted 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. 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 analysts' expectations of $1.95 billion. On average, sell-side analysts anticipate that Northern Trust Co. will post 8.27 EPS for the current year.

Northern Trust Dividend Announcement

The firm 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 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date of this dividend is Friday, June 6th. 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 firm's stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $99.95, for a total value of $329,835.00. Following the transaction, the executive vice president now directly owns 28,736 shares of the company's stock, valued at approximately $2,872,163.20. This trade represents a 10.30% decrease in their ownership of the stock. The sale was disclosed in a document filed 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 that occurred on Friday, May 9th. The shares were sold at an average price of $100.62, for a total transaction of $650,709.54. Following the sale, the insider now directly owns 79,391 shares of the company's stock, valued at approximately $7,988,322.42. This represents a 7.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,772 shares of company stock worth $981,069 over the last quarter. 0.77% of the stock is currently owned by insiders.

Northern Trust Profile

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.