Diametric Capital LP Invests $359,000 in Northern Trust Co. (NASDAQ:NTRS)

Diametric Capital LP bought a new stake in shares of Northern Trust Co. (NASDAQ:NTRS - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 3,500 shares of the asset manager's stock, valued at approximately $359,000.

Other hedge funds have also recently made changes to their positions in the company. Y.D. More Investments Ltd grew its stake in Northern Trust by 118.4% in the fourth quarter. Y.D. More Investments Ltd now owns 249 shares of the asset manager's stock valued at $26,000 after purchasing an additional 135 shares during the last quarter. Assetmark Inc. raised its stake in shares of Northern Trust by 528.3% during the 4th quarter. Assetmark Inc. now owns 377 shares of the asset manager's stock worth $39,000 after acquiring an additional 317 shares in the last quarter. Brooklyn Investment Group lifted its position in Northern Trust by 51.2% during the fourth quarter. Brooklyn Investment Group now owns 378 shares of the asset manager's stock valued at $39,000 after acquiring an additional 128 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in Northern Trust by 83.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 494 shares of the asset manager's stock valued at $51,000 after acquiring an additional 224 shares in the last quarter. Finally, Friedenthal Financial purchased a new position in Northern Trust in the fourth quarter worth $57,000. 83.19% of the stock is currently owned by institutional investors.

Northern Trust Price Performance

NTRS stock traded down $4.57 during mid-day trading on Friday, reaching $86.01. 2,982,621 shares of the company's stock were exchanged, compared to its average volume of 1,240,875. The company has a market cap of $16.83 billion, a price-to-earnings ratio of 8.79, a price-to-earnings-growth ratio of 1.72 and a beta of 1.10. Northern Trust Co. has a 12-month low of $79.32 and a 12-month high of $114.67. The stock's 50 day moving average is $105.63 and its 200 day moving average is $103.08. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.68 and a quick ratio of 0.71.

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Northern Trust (NASDAQ:NTRS - Get Free Report) last issued its quarterly earnings results on Thursday, January 23rd. The asset manager reported $2.26 EPS for the quarter, topping the consensus estimate of $1.96 by $0.30. Northern Trust had a net margin of 12.77% and a return on equity of 13.74%. On average, research analysts expect that Northern Trust Co. will post 8.27 EPS for the current year.

Northern Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were given a $0.75 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $3.00 annualized dividend and a dividend yield of 3.49%. Northern Trust's dividend payout ratio (DPR) is presently 30.67%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on NTRS. Wells Fargo & Company dropped their target price on Northern Trust from $119.00 to $118.00 and set an "equal weight" rating on the stock in a research note on Friday, March 28th. Evercore ISI cut their price objective on shares of Northern Trust from $113.00 to $104.00 and set an "in-line" rating on the stock in a report on Tuesday, April 1st. Bank of America decreased their price objective on shares of Northern Trust from $123.00 to $121.00 and set a "buy" rating for the company in a research report on Wednesday. UBS Group upped their price target on shares of Northern Trust from $110.00 to $114.00 and gave the company a "neutral" rating in a research note on Monday, January 27th. Finally, Barclays lifted their price objective on shares of Northern Trust from $115.00 to $118.00 and gave the stock an "equal weight" rating in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $112.31.

Insider Transactions at Northern Trust

In other news, EVP Jane Karpinski sold 2,262 shares of the firm's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $111.33, for a total value of $251,828.46. Following the transaction, the executive vice president now directly owns 17,236 shares of the company's stock, valued at approximately $1,918,883.88. This trade represents a 11.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Thomas A. South sold 3,804 shares of the company's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $113.00, for a total transaction of $429,852.00. Following the sale, the executive vice president now directly owns 81,794 shares of the company's stock, valued at approximately $9,242,722. This represents a 4.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,335 shares of company stock valued at $3,970,211 over the last ninety days. Insiders own 0.77% of the company's stock.

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.