Jacobs Levy Equity Management Inc. Boosts Stock Position in Northern Trust Co. (NASDAQ:NTRS)

Jacobs Levy Equity Management Inc. boosted its stake in Northern Trust Co. (NASDAQ:NTRS - Free Report) by 4.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 241,891 shares of the asset manager's stock after purchasing an additional 10,542 shares during the period. Jacobs Levy Equity Management Inc. owned about 0.12% of Northern Trust worth $24,794,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Ballentine Partners LLC increased its stake in Northern Trust by 4.4% in the 4th quarter. Ballentine Partners LLC now owns 2,483 shares of the asset manager's stock worth $255,000 after purchasing an additional 105 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Northern Trust by 24.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,061 shares of the asset manager's stock worth $2,286,000 after buying an additional 4,374 shares during the last quarter. JPMorgan Chase & Co. grew 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 buying an additional 388,692 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of Northern Trust in the 4th quarter worth approximately $7,437,000. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Northern Trust by 0.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,267,406 shares of the asset manager's stock worth $129,909,000 after buying an additional 8,102 shares during the last quarter. 83.19% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Northern Trust

In other news, insider Teresa Parker sold 6,467 shares of the business's stock in a transaction dated 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 transaction, the insider now owns 79,391 shares of the company's stock, valued at $7,988,322.42. The trade was a 7.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Thomas A. South sold 3,804 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $113.00, for a total value of $429,852.00. Following the transaction, the executive vice president now directly owns 81,794 shares of the company's stock, valued at $9,242,722. The trade was a 4.44% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 13,571 shares of company stock valued at $1,410,397. Insiders own 0.77% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on NTRS. UBS Group lifted their price objective on Northern Trust from $110.00 to $114.00 and gave the stock a "neutral" rating in a research report on Monday, January 27th. Wells Fargo & Company cut their price objective 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. Truist Financial cut their price objective 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. Morgan Stanley cut their price objective on Northern Trust from $136.00 to $132.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 2nd. Finally, StockNews.com lowered Northern Trust from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $110.83.

Northern Trust Stock Up 1.0%

Northern Trust stock traded up $1.08 during mid-day trading on Thursday, hitting $107.47. The company had a trading volume of 917,341 shares, compared to its average volume of 1,274,077. The company has a current ratio of 0.68, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The stock's 50 day moving average price is $95.10 and its two-hundred day moving average price is $102.97. Northern Trust Co. has a 12 month low of $79.68 and a 12 month high of $114.67. The company has a market capitalization of $20.91 billion, a PE ratio of 10.99, a price-to-earnings-growth ratio of 1.72 and a beta of 1.18.

Northern Trust (NASDAQ:NTRS - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The asset manager reported $1.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.85 by $0.05. The firm 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, sell-side analysts anticipate that Northern Trust Co. will post 8.27 earnings per share for the current fiscal year.

Northern Trust Announces Dividend

The firm also recently disclosed 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. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date is Friday, June 6th. Northern Trust's dividend payout ratio (DPR) is 27.99%.

About Northern Trust

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.