Avanza Fonder AB Makes New $1.60 Million Investment in Northern Trust Co. (NASDAQ:NTRS)

Avanza Fonder AB bought a new stake in Northern Trust Co. (NASDAQ:NTRS - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 15,582 shares of the asset manager's stock, valued at approximately $1,597,000.

Several other hedge funds also recently bought and sold shares of the stock. FMR LLC raised its holdings in shares of Northern Trust by 9.3% in the 3rd quarter. FMR LLC now owns 18,187,663 shares of the asset manager's stock valued at $1,637,435,000 after buying an additional 1,542,685 shares during the period. Primecap Management Co. CA grew its position in Northern Trust by 0.5% in the 3rd quarter. Primecap Management Co. CA now owns 7,085,117 shares of the asset manager's stock valued at $637,873,000 after acquiring an additional 38,360 shares in the last quarter. JPMorgan Chase & Co. increased its stake 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 worth $386,809,000 after purchasing an additional 388,692 shares during the period. Ariel Investments LLC lifted its position in shares of Northern Trust by 3.6% during the second quarter. Ariel Investments LLC now owns 2,644,205 shares of the asset manager's stock worth $222,060,000 after purchasing an additional 91,816 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Northern Trust by 12.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,003,675 shares of the asset manager's stock valued at $168,253,000 after purchasing an additional 219,387 shares during the period. Hedge funds and other institutional investors own 83.19% of the company's stock.

Insider Activity

In related news, EVP Thomas A. South sold 5,000 shares of Northern Trust stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $105.80, for a total value of $529,000.00. Following the transaction, the executive vice president now directly owns 49,756 shares in the company, valued at $5,264,184.80. This trade represents a 9.13 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Vice Chairman Steven L. Fradkin sold 27,874 shares of the business's stock in a transaction on Friday, October 25th. The shares were sold at an average price of $100.50, for a total transaction of $2,801,337.00. Following the completion of the transaction, the insider now directly owns 46,078 shares in the company, valued at $4,630,839. This represents a 37.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 82,151 shares of company stock valued at $8,489,889 in the last ninety days. 0.64% of the stock is currently owned by company insiders.

Northern Trust Stock Performance

Shares of Northern Trust stock traded up $0.38 on Friday, hitting $106.87. The stock had a trading volume of 913,629 shares, compared to its average volume of 1,000,725. The stock has a market cap of $21.18 billion, a price-to-earnings ratio of 13.29, a P/E/G ratio of 1.06 and a beta of 1.08. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. Northern Trust Co. has a 52-week low of $76.67 and a 52-week high of $111.87. The company's 50 day moving average price is $105.73 and its 200 day moving average price is $95.81.

Northern Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 1st. Stockholders of record on Friday, December 6th were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.81%. Northern Trust's dividend payout ratio (DPR) is presently 37.31%.

Analyst Upgrades and Downgrades

NTRS has been the topic of a number of research reports. Bank of America increased their target price on shares of Northern Trust from $103.00 to $115.00 and gave the stock a "buy" rating in a report on Thursday, October 24th. UBS Group lifted their target price on Northern Trust from $86.00 to $92.00 and gave the company a "neutral" rating in a report on Tuesday, October 8th. Truist Financial initiated coverage on Northern Trust in a report on Tuesday, January 7th. They set a "hold" rating and a $110.00 price target on the stock. Evercore ISI lifted their price objective on Northern Trust from $86.00 to $103.00 and gave the company an "in-line" rating in a research note on Thursday, October 24th. Finally, Wells Fargo & Company boosted their price objective on Northern Trust from $108.00 to $110.00 and gave the stock an "equal weight" rating in a research report on Friday, November 15th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $107.17.

Northern Trust 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.