Wedge Capital Management L L P NC Has $2.35 Million Stock Holdings in Northern Trust Co. (NASDAQ:NTRS)

Wedge Capital Management L L P NC grew its holdings in Northern Trust Co. (NASDAQ:NTRS - Free Report) by 17.6% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 23,770 shares of the asset manager's stock after acquiring an additional 3,552 shares during the quarter. Wedge Capital Management L L P NC's holdings in Northern Trust were worth $2,345,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NTRS. Colonial Trust Co SC boosted its position in shares of Northern Trust by 6,400.0% in the 4th quarter. Colonial Trust Co SC now owns 260 shares of the asset manager's stock worth $27,000 after buying an additional 256 shares in the last quarter. Assetmark Inc. raised its stake in Northern Trust by 528.3% in the 4th quarter. Assetmark Inc. now owns 377 shares of the asset manager's stock valued at $39,000 after purchasing an additional 317 shares during the last quarter. Coppell Advisory Solutions LLC acquired a new stake in shares of Northern Trust during the 4th quarter worth about $44,000. True Wealth Design LLC raised its holdings in Northern Trust by 84.0% in the 4th quarter. True Wealth Design LLC now owns 425 shares of the asset manager's stock valued at $44,000 after acquiring an additional 194 shares during the last quarter. Finally, Proficio Capital Partners LLC acquired a new position in Northern Trust in the fourth quarter valued at $51,000. Institutional investors and hedge funds own 83.19% of the company's stock.

Northern Trust Stock Up 1.1%

NASDAQ:NTRS traded up $1.17 on Tuesday, hitting $109.91. 2,421,535 shares of the company's stock were exchanged, compared to its average volume of 1,299,221. The firm has a 50-day moving average price of $97.97 and a 200-day moving average price of $103.18. Northern Trust Co. has a 52 week low of $79.68 and a 52 week high of $114.67. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.68 and a quick ratio of 0.71. The company has a market cap of $21.38 billion, a P/E ratio of 11.24, a price-to-earnings-growth ratio of 1.72 and a beta of 1.22.

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 the consensus estimate 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 return on equity of 13.74% and a net margin of 12.77%. As a group, analysts expect that Northern Trust Co. will post 8.27 EPS for the current fiscal year.

Northern Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 6th will be given 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 is Friday, June 6th. Northern Trust's dividend payout ratio (DPR) is presently 27.99%.

Insider Buying and Selling

In other news, EVP Clive Bellows sold 3,300 shares of the stock in a transaction 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 sale, the executive vice president now directly owns 28,736 shares of the company's stock, valued at approximately $2,872,163.20. This represents a 10.30% decrease in their position. The transaction 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 business's stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $100.62, for a total value of $650,709.54. Following the completion of the transaction, the insider now directly owns 79,391 shares of the company's stock, valued at approximately $7,988,322.42. This trade represents a 7.53% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,772 shares of company stock worth $981,069. Company insiders own 0.77% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on NTRS shares. Truist Financial reduced 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. Citigroup reduced their target price on shares of Northern Trust from $110.00 to $105.00 and set a "neutral" rating for the company in a report on Monday, March 24th. Morgan Stanley reiterated an "underweight" rating and issued a $103.00 price target (up previously from $101.00) on shares of Northern Trust in a research report on Tuesday, June 3rd. Royal Bank of Canada cut their price objective on Northern Trust from $115.00 to $105.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. Finally, Evercore ISI reduced their price objective on shares of 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. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $108.42.

Northern Trust Company 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.