Worldquant Millennium Advisors LLC Purchases New Stake in Northern Trust Co. (NASDAQ:NTRS)

Worldquant Millennium Advisors LLC purchased a new stake in shares of Northern Trust Co. (NASDAQ:NTRS - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 7,088 shares of the asset manager's stock, valued at approximately $727,000.

Several other hedge funds have also recently modified their holdings of the stock. Ballentine Partners LLC increased its position in Northern Trust by 4.4% during the fourth quarter. Ballentine Partners LLC now owns 2,483 shares of the asset manager's stock valued at $255,000 after acquiring an additional 105 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Northern Trust by 24.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,061 shares of the asset manager's stock valued at $2,286,000 after acquiring an additional 4,374 shares during the last quarter. JPMorgan Chase & Co. increased its position in Northern Trust by 9.9% during the third quarter. JPMorgan Chase & Co. now owns 4,296,442 shares of the asset manager's stock valued at $386,809,000 after acquiring an additional 388,692 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Northern Trust in the fourth quarter worth about $7,437,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Northern Trust by 0.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,267,406 shares of the asset manager's stock worth $129,909,000 after purchasing an additional 8,102 shares during the last quarter. Hedge funds and other institutional investors own 83.19% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on NTRS. Wall Street Zen cut shares of Northern Trust from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Evercore ISI dropped 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 note on Wednesday, April 23rd. Truist Financial lowered 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 note on Wednesday, April 23rd. Wells Fargo & Company reduced their target price on shares of Northern Trust from $118.00 to $111.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 23rd. Finally, Royal Bank of Canada reduced their price objective on shares of Northern Trust from $115.00 to $105.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. One research 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.com, the stock presently has a consensus rating of "Hold" and an average target price of $110.83.

Insider Activity at Northern Trust

In other news, insider Teresa Parker sold 6,467 shares of the business's 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 completion of the sale, the insider now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Clive Bellows sold 3,300 shares of the business's stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $99.95, for a total value of $329,835.00. Following the completion of the sale, the executive vice president now owns 28,736 shares of the company's stock, valued at $2,872,163.20. This trade represents a 10.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.77% of the company's stock.

Northern Trust Price Performance

Shares of NTRS traded down $1.91 during trading hours on Wednesday, reaching $107.04. 749,249 shares of the company traded hands, compared to its average volume of 1,283,868. The stock has a fifty day simple moving average of $96.64 and a 200 day simple moving average of $103.26. The company has a quick ratio of 0.71, a current ratio of 0.68 and a debt-to-equity ratio of 0.58. Northern Trust Co. has a fifty-two week low of $79.68 and a fifty-two week high of $114.67. The stock has a market capitalization of $20.82 billion, a PE ratio of 10.94, a price-to-earnings-growth ratio of 1.72 and a beta of 1.18.

Northern Trust (NASDAQ:NTRS - Get Free Report) last released its quarterly earnings data 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 company had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.95 billion. Northern Trust had a return on equity of 13.74% and a net margin of 12.77%. As a group, research analysts predict that Northern Trust Co. will post 8.27 EPS 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 issued a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.00 annualized dividend and a dividend yield of 2.80%. Northern Trust's payout ratio is currently 27.99%.

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.