Agate Pass Investment Management LLC Purchases New Holdings in Northern Trust Co. (NASDAQ:NTRS)

Agate Pass Investment Management LLC purchased a new stake in shares of Northern Trust Co. (NASDAQ:NTRS - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 5,245 shares of the asset manager's stock, valued at approximately $538,000.

A number of other large investors have also recently made changes to their positions in the stock. Northwest Investment Counselors LLC purchased a new stake in Northern Trust during the 3rd quarter valued at $39,000. Capital Performance Advisors LLP bought a new position in Northern Trust in the third quarter valued at about $48,000. Eastern Bank purchased a new position in Northern Trust in the third quarter worth about $51,000. Versant Capital Management Inc grew its stake in shares of Northern Trust by 34.9% during the 4th quarter. Versant Capital Management Inc now owns 684 shares of the asset manager's stock valued at $70,000 after purchasing an additional 177 shares during the period. Finally, Catalyst Capital Advisors LLC purchased a new stake in shares of Northern Trust during the 3rd quarter valued at about $68,000. 83.19% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

NTRS has been the subject of several recent research reports. Truist Financial began coverage on shares of Northern Trust in a research report on Tuesday, January 7th. They set a "hold" rating and a $110.00 target price for the company. Wells Fargo & Company boosted 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 report on Friday, November 15th. Bank of America boosted their price target on Northern Trust from $103.00 to $115.00 and gave the company a "buy" rating in a report on Thursday, October 24th. UBS Group raised their price objective on Northern Trust from $86.00 to $92.00 and gave the stock a "neutral" rating in a research note on Tuesday, October 8th. Finally, The Goldman Sachs Group downgraded Northern Trust from a "neutral" rating to a "sell" rating and cut their price objective for the company from $84.00 to $82.00 in a research note on Thursday, September 26th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $107.17.

Northern Trust Price Performance

Shares of NTRS stock traded up $0.86 during mid-day trading on Monday, hitting $100.32. The company had a trading volume of 1,092,481 shares, compared to its average volume of 1,035,654. The company has a market capitalization of $19.89 billion, a P/E ratio of 12.48, a P/E/G ratio of 1.18 and a beta of 1.08. The stock's 50 day moving average price is $105.67 and its 200-day moving average price is $95.17. Northern Trust Co. has a 52-week low of $76.67 and a 52-week high of $111.87. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71.

Northern Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 1st. Stockholders of record on Friday, December 6th were issued a $0.75 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $3.00 annualized dividend and a dividend yield of 2.99%. Northern Trust's dividend payout ratio (DPR) is 37.31%.

Insider Buying and Selling

In other Northern Trust news, Vice Chairman Steven L. Fradkin sold 9,100 shares of the stock in a transaction on Friday, November 29th. The shares were sold at an average price of $111.00, for a total transaction of $1,010,100.00. Following the completion of the transaction, the insider now owns 47,797 shares in the company, valued at $5,305,467. This trade represents a 15.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Thomas A. South sold 5,000 shares of the company's stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $105.80, for a total transaction of $529,000.00. Following the sale, the executive vice president now owns 49,756 shares in the company, valued at $5,264,184.80. This represents a 9.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 82,151 shares of company stock worth $8,489,889. Corporate insiders own 0.64% 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.