Quantinno Capital Management LP increased its position in Northern Trust Co. (NASDAQ:NTRS - Free Report) by 22.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 88,317 shares of the asset manager's stock after purchasing an additional 16,479 shares during the period. Quantinno Capital Management LP's holdings in Northern Trust were worth $9,053,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the company. Ballentine Partners LLC lifted its stake in Northern Trust by 4.4% in the fourth quarter. Ballentine Partners LLC now owns 2,483 shares of the asset manager's stock valued at $255,000 after buying an additional 105 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in 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 valued at $2,286,000 after purchasing an additional 4,374 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Northern Trust by 9.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,296,442 shares of the asset manager's stock worth $386,809,000 after purchasing an additional 388,692 shares during the period. KLP Kapitalforvaltning AS purchased a new position in Northern Trust during the 4th quarter worth $7,437,000. Finally, Charles Schwab Investment Management Inc. increased its stake in 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 valued at $129,909,000 after purchasing an additional 8,102 shares during the period. 83.19% of the stock is owned by institutional investors and hedge funds.
Northern Trust Price Performance
Northern Trust stock traded down $0.67 during midday trading on Tuesday, reaching $107.32. The company's stock had a trading volume of 1,136,791 shares, compared to its average volume of 1,369,589. The firm has a market capitalization of $20.88 billion, a PE ratio of 10.97, a P/E/G ratio of 1.72 and a beta of 1.18. Northern Trust Co. has a fifty-two week low of $79.68 and a fifty-two week high of $114.67. The stock's 50 day simple moving average is $95.63 and its 200 day simple moving average is $103.14. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.68.
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 business had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.95 billion. Northern Trust had a net margin of 12.77% and a return on equity of 13.74%. On average, equities research analysts forecast that Northern Trust Co. will post 8.27 earnings per share for the current year.
Northern Trust Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 6th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.80%. Northern Trust's payout ratio is 27.99%.
Insider Transactions at Northern Trust
In other news, EVP Clive Bellows sold 3,300 shares of the firm's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $99.95, for a total value of $329,835.00. Following the completion of the transaction, the executive vice president now owns 28,736 shares in the company, valued at $2,872,163.20. This trade represents a 10.30% decrease in their ownership of the stock. 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 Northern Trust stock in a transaction on Wednesday, February 19th. The stock was 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. This trade represents a 4.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,571 shares of company stock valued at $1,410,397 in the last quarter. 0.77% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
A number of research firms recently issued reports on NTRS. Bank of America lowered their price target on Northern Trust from $123.00 to $121.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Wells Fargo & Company decreased their price objective on Northern Trust from $118.00 to $111.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 23rd. Evercore ISI dropped their target price on Northern Trust from $104.00 to $100.00 and set an "in-line" rating on the stock in a report on Wednesday, April 23rd. Truist Financial cut their price target on Northern Trust from $98.00 to $92.00 and set a "hold" rating for the company in a research note on Wednesday, April 23rd. Finally, Citigroup decreased their price target on Northern Trust from $110.00 to $105.00 and set a "neutral" rating for the company in a report on Monday, March 24th. One investment 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 a consensus price target of $110.83.
View Our Latest Research Report on Northern Trust
About Northern Trust
(
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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