Taika Capital LP acquired a new stake in shares of Northern Trust Co. (NASDAQ:NTRS - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 3,510 shares of the asset manager's stock, valued at approximately $360,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in NTRS. Juncture Wealth Strategies LLC boosted its stake in Northern Trust by 2.4% during the fourth quarter. Juncture Wealth Strategies LLC now owns 4,212 shares of the asset manager's stock worth $432,000 after buying an additional 100 shares during the period. Ballentine Partners LLC boosted its stake in Northern Trust by 4.4% during the fourth quarter. Ballentine Partners LLC now owns 2,483 shares of the asset manager's stock worth $255,000 after buying an additional 105 shares during the period. Pallas Capital Advisors LLC boosted its stake in Northern Trust by 1.8% during the fourth quarter. Pallas Capital Advisors LLC now owns 6,091 shares of the asset manager's stock worth $624,000 after buying an additional 107 shares during the period. Bradley Foster & Sargent Inc. CT boosted its stake in Northern Trust by 2.4% during the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 4,774 shares of the asset manager's stock worth $489,000 after buying an additional 114 shares during the period. Finally, Mesirow Financial Investment Management Inc. boosted its stake in Northern Trust by 0.4% during the third quarter. Mesirow Financial Investment Management Inc. now owns 35,673 shares of the asset manager's stock worth $3,212,000 after buying an additional 127 shares during the period. 83.19% of the stock is owned by hedge funds and other institutional investors.
Northern Trust Stock Down 2.2 %
NTRS stock traded down $2.14 during midday trading on Thursday, reaching $96.09. 1,087,455 shares of the company were exchanged, compared to its average volume of 1,264,489. 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 Co. has a 1-year low of $79.30 and a 1-year high of $114.67. The stock's 50-day simple moving average is $107.99 and its 200 day simple moving average is $102.04. The company has a market cap of $18.80 billion, a price-to-earnings ratio of 9.83, a price-to-earnings-growth ratio of 1.72 and a beta of 1.07.
Northern Trust (NASDAQ:NTRS - Get Free Report) last released its quarterly earnings data on Thursday, January 23rd. The asset manager reported $2.26 earnings per share for the quarter, topping analysts' consensus estimates 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, equities analysts forecast that Northern Trust Co. will post 8.27 earnings per share for the current year.
Northern Trust Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a $0.75 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.12%. Northern Trust's payout ratio is 30.67%.
Analyst Ratings Changes
Several brokerages have weighed in on NTRS. Barclays increased their target price 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. UBS Group raised their price objective 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. Wells Fargo & Company raised their price objective on shares of Northern Trust from $108.00 to $110.00 and gave the company an "equal weight" rating in a research note on Friday, November 15th. The Goldman Sachs Group raised their price objective on shares of Northern Trust from $92.00 to $102.00 and gave the company a "sell" rating in a research note on Friday, January 24th. Finally, Royal Bank of Canada raised their price objective on shares of Northern Trust from $107.00 to $115.00 and gave the company an "outperform" rating in a research note on Friday, January 24th. One analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $113.50.
Read Our Latest Research Report on Northern Trust
Insider Activity
In other Northern Trust news, EVP Jane Karpinski sold 2,262 shares of the business's stock in a transaction on 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. The trade was a 11.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Thomas A. South sold 3,804 shares of the business's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $113.00, for a total transaction of $429,852.00. Following the completion of the transaction, the executive vice president now directly owns 81,794 shares in the company, valued at $9,242,722. This represents a 4.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,335 shares of company stock valued at $3,970,211 in the last ninety days. 0.64% of the stock is currently owned by company insiders.
Northern Trust Company Profile
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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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