ExodusPoint Capital Management LP Makes New $42.72 Million Investment in Northern Trust Co. (NASDAQ:NTRS)

ExodusPoint Capital Management LP purchased a new position in shares of Northern Trust Co. (NASDAQ:NTRS - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 416,731 shares of the asset manager's stock, valued at approximately $42,715,000. ExodusPoint Capital Management LP owned approximately 0.21% of Northern Trust as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Bryce Point Capital LLC acquired a new position in shares of Northern Trust during the 4th quarter worth approximately $545,000. Massachusetts Financial Services Co. MA lifted its position in Northern Trust by 1.2% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,486,616 shares of the asset manager's stock worth $767,378,000 after buying an additional 92,162 shares in the last quarter. Geode Capital Management LLC boosted its stake in Northern Trust by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 4,904,871 shares of the asset manager's stock worth $501,444,000 after buying an additional 30,908 shares during the last quarter. Diametric Capital LP acquired a new stake in shares of Northern Trust in the 4th quarter worth $359,000. Finally, Franklin Resources Inc. raised its holdings in shares of Northern Trust by 22.7% during the 4th quarter. Franklin Resources Inc. now owns 194,416 shares of the asset manager's stock worth $19,928,000 after acquiring an additional 35,941 shares during the period. 83.19% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Northern Trust

In other news, EVP Thomas A. South sold 3,804 shares of the firm's stock in a transaction dated 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 in the company, valued at $9,242,722. This trade represents a 4.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Peter Cherecwich sold 26,132 shares of the stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $112.36, for a total transaction of $2,936,191.52. Following the sale, the chief operating officer now directly owns 26,586 shares of the company's stock, valued at approximately $2,987,202.96. This trade represents a 49.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,335 shares of company stock valued at $3,970,211 over the last quarter. Insiders own 0.77% of the company's stock.

Remove Ads

Northern Trust Stock Performance

NTRS traded up $1.44 during trading on Tuesday, hitting $86.94. The stock had a trading volume of 390,445 shares, compared to its average volume of 1,240,929. The firm has a market capitalization of $17.01 billion, a P/E ratio of 8.90, a PEG ratio of 1.72 and a beta of 1.10. 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 twelve month low of $79.32 and a twelve month high of $114.67. The company's 50-day moving average price is $105.11 and its 200 day moving average price is $103.12.

Northern Trust (NASDAQ:NTRS - Get Free Report) last issued its quarterly earnings results on Thursday, January 23rd. The asset manager reported $2.26 earnings per share (EPS) 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 research analysts forecast that Northern Trust Co. will post 8.27 EPS for the current fiscal year.

Northern Trust Announces Dividend

The firm also recently declared 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 3.45%. Northern Trust's dividend payout ratio is presently 30.67%.

Analyst Upgrades and Downgrades

NTRS has been the subject of several recent analyst reports. Truist Financial cut their price objective on shares of Northern Trust from $116.00 to $98.00 and set a "hold" rating for the company in a research report on Friday. StockNews.com cut Northern Trust from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Bank of America lowered their price target on Northern Trust from $123.00 to $121.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods boosted their price objective on shares of Northern Trust from $113.00 to $122.00 and gave the company a "market perform" rating in a report on Friday, January 24th. Finally, The Goldman Sachs Group lifted their price objective on Northern Trust from $92.00 to $102.00 and gave the company a "sell" rating in a research note on Friday, January 24th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, Northern Trust currently has a consensus rating of "Hold" and a consensus target price of $112.31.

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.