6,049 Shares in Northern Trust Co. (NASDAQ:NTRS) Purchased by Allstate Corp

Allstate Corp acquired a new stake in Northern Trust Co. (NASDAQ:NTRS - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 6,049 shares of the asset manager's stock, valued at approximately $620,000.

A number of other institutional investors have also recently bought and sold shares of the business. Norges Bank acquired a new position in shares of Northern Trust during the 4th quarter worth about $83,550,000. KBC Group NV grew its holdings in Northern Trust by 201.6% during the fourth quarter. KBC Group NV now owns 963,811 shares of the asset manager's stock valued at $98,791,000 after purchasing an additional 644,261 shares during the period. JPMorgan Chase & Co. grew its holdings in Northern Trust by 9.9% during the third quarter. JPMorgan Chase & Co. now owns 4,296,442 shares of the asset manager's stock valued at $386,809,000 after purchasing an additional 388,692 shares during the period. Robeco Institutional Asset Management B.V. raised its holdings in Northern Trust by 62.8% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 678,461 shares of the asset manager's stock worth $69,542,000 after purchasing an additional 261,797 shares during the period. Finally, Teacher Retirement System of Texas raised its holdings in Northern Trust by 49.2% in the fourth quarter. Teacher Retirement System of Texas now owns 359,304 shares of the asset manager's stock worth $36,829,000 after purchasing an additional 118,544 shares during the period. Institutional investors and hedge funds own 83.19% of the company's stock.

Insiders Place Their Bets

In other Northern Trust news, COO Peter Cherecwich sold 26,132 shares of the business's 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 transaction, the chief operating officer now owns 26,586 shares of the company's stock, valued at $2,987,202.96. The trade was a 49.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Thomas A. South sold 3,804 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $113.00, for a total value of $429,852.00. Following the completion of the sale, the executive vice president now directly owns 81,794 shares of the company's stock, valued at approximately $9,242,722. The trade was a 4.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,335 shares of company stock valued at $3,970,211. 0.77% of the stock is currently owned by corporate insiders.

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Northern Trust Stock Down 8.3 %

NTRS stock traded down $8.15 during midday trading on Thursday, hitting $90.58. The company's stock had a trading volume of 2,009,204 shares, compared to its average volume of 1,233,395. The company's fifty day moving average price is $106.51 and its 200 day moving average price is $103.11. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.68 and a quick ratio of 0.71. Northern Trust Co. has a twelve month low of $79.32 and a twelve month high of $114.67. The stock has a market capitalization of $17.73 billion, a P/E ratio of 9.26, a PEG ratio of 1.72 and a beta of 1.07.

Northern Trust (NASDAQ:NTRS - Get Free Report) last released its earnings results on Thursday, January 23rd. The asset manager reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.96 by $0.30. Northern Trust had a return on equity of 13.74% and a net margin of 12.77%. As a group, equities research analysts predict 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. Investors of record on Friday, March 14th were paid a $0.75 dividend. The ex-dividend date was Friday, March 14th. This represents a $3.00 annualized dividend and a dividend yield of 3.31%. Northern Trust's dividend payout ratio is presently 30.67%.

Analyst Ratings Changes

NTRS has been the subject of a number of recent analyst reports. Bank of America lowered 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. Barclays raised their price target on Northern Trust from $115.00 to $118.00 and gave the stock an "equal weight" rating in a research report on Monday, January 6th. Royal Bank of Canada boosted their price objective on Northern Trust from $107.00 to $115.00 and gave the company an "outperform" rating in a research report on Friday, January 24th. The Goldman Sachs Group raised their target price on shares of Northern Trust from $92.00 to $102.00 and gave the stock a "sell" rating in a report on Friday, January 24th. Finally, Keefe, Bruyette & Woods upped their price target 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. One investment analyst has rated the stock with a sell rating, ten have issued 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 $113.69.

Northern Trust Company Profile

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.