Aviva PLC grew its stake in Northern Trust Co. (NASDAQ:NTRS - Free Report) by 1,488.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 121,440 shares of the asset manager's stock after acquiring an additional 113,794 shares during the period. Aviva PLC owned 0.06% of Northern Trust worth $12,448,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Resona Asset Management Co. Ltd. bought a new stake in shares of Northern Trust during the 4th quarter worth approximately $6,308,000. Wells Fargo & Company MN increased its holdings in Northern Trust by 13.7% during the fourth quarter. Wells Fargo & Company MN now owns 98,503 shares of the asset manager's stock worth $10,097,000 after buying an additional 11,854 shares during the last quarter. Landscape Capital Management L.L.C. raised its position in Northern Trust by 51.2% during the fourth quarter. Landscape Capital Management L.L.C. now owns 7,851 shares of the asset manager's stock worth $805,000 after acquiring an additional 2,659 shares in the last quarter. Pitcairn Co. lifted its stake in Northern Trust by 53.7% in the fourth quarter. Pitcairn Co. now owns 24,518 shares of the asset manager's stock valued at $2,513,000 after acquiring an additional 8,567 shares during the last quarter. Finally, ExodusPoint Capital Management LP bought a new position in shares of Northern Trust in the 4th quarter valued at about $42,715,000. Institutional investors and hedge funds own 83.19% of the company's stock.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on NTRS shares. Evercore ISI dropped their target price on shares of Northern Trust from $113.00 to $104.00 and set an "in-line" rating on the stock in a report on Tuesday, April 1st. Citigroup reduced their target price on Northern Trust from $110.00 to $105.00 and set a "neutral" rating for the company in a research note on Monday, March 24th. UBS Group increased their price target on Northern Trust from $110.00 to $114.00 and gave the company a "neutral" rating in a research note on Monday, January 27th. Royal Bank of Canada raised their price target on Northern Trust from $107.00 to $115.00 and gave the company an "outperform" rating in a report on Friday, January 24th. Finally, The Goldman Sachs Group upped their price objective on shares of Northern Trust from $92.00 to $102.00 and gave the company a "sell" rating in a report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $112.31.
Get Our Latest Report on NTRS
Northern Trust Stock Performance
Shares of NASDAQ:NTRS traded up $0.35 on Friday, reaching $88.29. 2,003,303 shares of the company's stock were exchanged, compared to its average volume of 1,260,611. The company has a current ratio of 0.68, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. Northern Trust Co. has a twelve month low of $79.32 and a twelve month high of $114.67. The company has a fifty day moving average of $102.30 and a 200-day moving average of $102.93. The company has a market capitalization of $17.28 billion, a price-to-earnings ratio of 9.03, a PEG ratio of 1.72 and a beta of 1.10.
Northern Trust (NASDAQ:NTRS - Get Free Report) last posted its quarterly earnings data on Thursday, January 23rd. The asset manager reported $2.26 EPS for the quarter, topping analysts' consensus estimates of $1.96 by $0.30. Northern Trust had a return on equity of 13.74% and a net margin of 12.77%. On average, research analysts predict that Northern Trust Co. will post 8.27 EPS for the current fiscal year.
Northern Trust Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were given a dividend of $0.75 per share. The ex-dividend date was Friday, March 14th. This represents a $3.00 annualized dividend and a yield of 3.40%. Northern Trust's dividend payout ratio is 30.67%.
Insiders Place Their Bets
In related news, insider John Landers sold 900 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $111.44, for a total transaction of $100,296.00. Following the sale, the insider now owns 7,640 shares in the company, valued at approximately $851,401.60. This trade represents a 10.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Thomas A. South sold 3,804 shares of the business'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 transaction of $429,852.00. Following the transaction, the executive vice president now owns 81,794 shares of the company's stock, valued at approximately $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 worth $3,970,211 over the last ninety days. Corporate insiders own 0.77% of the company's stock.
Northern Trust 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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