Aware Super Pty Ltd as trustee of Aware Super acquired a new position in Northern Trust Co. (NASDAQ:NTRS - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 39,439 shares of the asset manager's stock, valued at approximately $4,042,000.
Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank bought a new stake in Northern Trust during the 4th quarter worth approximately $83,550,000. KBC Group NV increased its stake in shares of Northern Trust by 201.6% in the fourth quarter. KBC Group NV now owns 963,811 shares of the asset manager's stock worth $98,791,000 after purchasing an additional 644,261 shares in the last quarter. Cerity Partners LLC raised its position in shares of Northern Trust by 451.9% during the 4th quarter. Cerity Partners LLC now owns 555,631 shares of the asset manager's stock valued at $56,866,000 after purchasing an additional 454,956 shares during the period. ExodusPoint Capital Management LP purchased a new position in shares of Northern Trust during the 4th quarter valued at $42,715,000. Finally, JPMorgan Chase & Co. boosted its holdings in Northern Trust by 9.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,296,442 shares of the asset manager's stock worth $386,809,000 after buying an additional 388,692 shares during the period. Hedge funds and other institutional investors own 83.19% of the company's stock.
Northern Trust Trading Up 1.0 %
NASDAQ:NTRS traded up $0.86 during mid-day trading on Friday, hitting $88.29. 1,463,261 shares of the stock traded hands, compared to its average volume of 1,254,028. The company has a quick ratio of 0.71, a current ratio of 0.68 and a debt-to-equity ratio of 0.58. The stock 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 Co. has a 52 week low of $79.68 and a 52 week high of $114.67. The firm's 50 day moving average is $100.36 and its two-hundred day moving average is $102.72.
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 return on equity of 13.74% and a net margin of 12.77%. On average, equities research analysts predict that Northern Trust Co. will post 8.27 earnings per share for the current year.
Northern Trust Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were issued a dividend of $0.75 per share. The ex-dividend date was Friday, March 14th. This represents a $3.00 dividend on an annualized basis and a yield of 3.40%. Northern Trust's payout ratio is 30.67%.
Wall Street Analyst Weigh In
NTRS has been the topic of several research analyst reports. Keefe, Bruyette & Woods boosted their price objective on Northern Trust from $113.00 to $122.00 and gave the company a "market perform" rating in a research report on Friday, January 24th. Wells Fargo & Company dropped their price target on Northern Trust from $119.00 to $118.00 and set an "equal weight" rating for the company in a research note on Friday, March 28th. StockNews.com cut shares of Northern Trust from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. Evercore ISI dropped their target price on shares of Northern Trust from $113.00 to $104.00 and set an "in-line" rating for the company in a research report on Tuesday, April 1st. Finally, Truist Financial decreased their price target on shares of Northern Trust from $116.00 to $98.00 and set a "hold" rating on the stock in a research note on Friday, April 4th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, Northern Trust presently has a consensus rating of "Hold" and an average price target of $112.31.
Check Out Our Latest Stock Analysis on Northern Trust
Insider Buying and Selling at Northern Trust
In other news, insider Jason J. Tyler sold 2,237 shares of the business's stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $112.67, for a total value of $252,042.79. Following the completion of the sale, the insider now owns 58,449 shares in the company, valued at approximately $6,585,448.83. The trade was a 3.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Peter Cherecwich sold 26,132 shares of the company'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 completion of the sale, the chief operating officer now directly owns 26,586 shares of the company's stock, valued at $2,987,202.96. The trade was a 49.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 35,335 shares of company stock valued at $3,970,211 in the last three months. Company 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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