Bryce Point Capital LLC purchased a new stake in shares of Northern Trust Co. (NASDAQ:NTRS - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,319 shares of the asset manager's stock, valued at approximately $545,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ballentine Partners LLC grew its holdings in Northern Trust by 4.4% in the 4th quarter. Ballentine Partners LLC now owns 2,483 shares of the asset manager's stock valued at $255,000 after buying an additional 105 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Northern Trust by 24.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,061 shares of the asset manager's stock valued at $2,286,000 after purchasing an additional 4,374 shares during the last quarter. 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 valued at $386,809,000 after purchasing an additional 388,692 shares during the period. Charles Schwab Investment Management Inc. grew its position in Northern Trust by 0.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,267,406 shares of the asset manager's stock worth $129,909,000 after purchasing an additional 8,102 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC increased its holdings in shares of Northern Trust by 68.1% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 13,765 shares of the asset manager's stock worth $1,239,000 after purchasing an additional 5,578 shares during the period. 83.19% of the stock is owned by institutional investors and hedge funds.
Northern Trust Price Performance
Northern Trust stock traded up $1.99 during trading hours on Tuesday, hitting $87.49. 362,256 shares of the stock were exchanged, compared to its average volume of 1,240,788. Northern Trust Co. has a 12 month low of $79.32 and a 12 month high of $114.67. The business's 50-day moving average is $105.11 and its two-hundred day moving average is $103.12. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.68. The stock has a market capitalization of $17.12 billion, a P/E ratio of 8.95, a P/E/G ratio of 1.72 and a beta of 1.10.
Northern Trust (NASDAQ:NTRS - Get Free Report) last released its quarterly earnings results 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%. Equities research analysts expect that Northern Trust Co. will post 8.27 EPS for the current fiscal year.
Northern Trust Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were issued a $0.75 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.43%. Northern Trust's dividend payout ratio is 30.67%.
Insider Buying and Selling
In other news, COO Peter Cherecwich sold 26,132 shares of the company's stock in a transaction that occurred on Wednesday, January 29th. The shares were 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 directly owns 26,586 shares in the company, valued at approximately $2,987,202.96. This represents a 49.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jason J. Tyler sold 2,237 shares of the stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $112.67, for a total transaction of $252,042.79. Following the sale, the insider now directly owns 58,449 shares in the company, valued at $6,585,448.83. This trade represents a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,335 shares of company stock worth $3,970,211 in the last 90 days. Corporate insiders own 0.77% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on NTRS shares. The Goldman Sachs Group lifted their target price on Northern Trust from $92.00 to $102.00 and gave the stock a "sell" rating in a research report on Friday, January 24th. Evercore ISI cut their target price on Northern Trust from $113.00 to $104.00 and set an "in-line" rating for the company in a research note on Tuesday, April 1st. Royal Bank of Canada lifted their price target on shares of Northern Trust from $107.00 to $115.00 and gave the stock an "outperform" rating in a research note on Friday, January 24th. Citigroup dropped their price objective on shares of Northern Trust from $110.00 to $105.00 and set a "neutral" rating for the company in a research note on Monday, March 24th. Finally, Wells Fargo & Company decreased their target price on shares of Northern Trust from $119.00 to $118.00 and set an "equal weight" rating on the stock in a research report on Friday, March 28th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $112.31.
Read Our Latest Analysis on Northern Trust
Northern Trust Company Profile
(
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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