Connor Clark & Lunn Investment Management Ltd. Buys New Shares in Northern Trust Co. (NASDAQ:NTRS)

Connor Clark & Lunn Investment Management Ltd. bought a new position in Northern Trust Co. (NASDAQ:NTRS - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 13,231 shares of the asset manager's stock, valued at approximately $1,356,000.

A number of other hedge funds also recently bought and sold shares of NTRS. Empowered Funds LLC boosted its position in Northern Trust by 7.7% during the third quarter. Empowered Funds LLC now owns 4,094 shares of the asset manager's stock worth $369,000 after purchasing an additional 293 shares in the last quarter. Natixis Advisors LLC boosted its position in Northern Trust by 31.6% during the third quarter. Natixis Advisors LLC now owns 81,774 shares of the asset manager's stock worth $7,362,000 after purchasing an additional 19,655 shares in the last quarter. Aviance Capital Partners LLC boosted its position in Northern Trust by 11.8% during the third quarter. Aviance Capital Partners LLC now owns 11,652 shares of the asset manager's stock worth $1,049,000 after purchasing an additional 1,226 shares in the last quarter. Pathstone Holdings LLC boosted its position in Northern Trust by 2.6% during the third quarter. Pathstone Holdings LLC now owns 15,936 shares of the asset manager's stock worth $1,437,000 after purchasing an additional 402 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Northern Trust in the third quarter valued at approximately $2,071,000. Hedge funds and other institutional investors own 83.19% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on NTRS shares. Barclays raised their target price on Northern Trust from $115.00 to $118.00 and gave the company an "equal weight" rating in a research report on Monday, January 6th. The Goldman Sachs Group raised their target price on Northern Trust from $92.00 to $102.00 and gave the company a "sell" rating in a research report on Friday, January 24th. Keefe, Bruyette & Woods raised their target price 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. Royal Bank of Canada raised their target price on Northern Trust from $107.00 to $115.00 and gave the company an "outperform" rating in a research report on Friday, January 24th. Finally, StockNews.com downgraded Northern Trust from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. One analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Northern Trust currently has a consensus rating of "Hold" and a consensus price target of $113.50.

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Insider Activity

In other news, COO Peter Cherecwich sold 26,132 shares of Northern Trust stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $112.36, for a total value 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 approximately $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 SEC, which can be accessed through this hyperlink. Also, insider John Landers sold 900 shares of Northern Trust stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $111.44, for a total value of $100,296.00. Following the completion of the sale, the insider now directly owns 7,640 shares of the company's stock, valued at $851,401.60. The trade was a 10.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,335 shares of company stock valued at $3,970,211. 0.64% of the stock is currently owned by corporate insiders.

Northern Trust Trading Down 0.1 %

NTRS stock traded down $0.10 during midday trading on Friday, hitting $98.77. 3,686,301 shares of the company's stock were exchanged, compared to its average volume of 1,178,696. The business has a 50-day simple moving average of $107.42 and a two-hundred day simple moving average of $102.46. The company has a current ratio of 0.68, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $19.33 billion, a PE ratio of 10.10, a P/E/G ratio of 1.72 and a beta of 1.07. Northern Trust Co. has a 1-year low of $79.32 and a 1-year high of $114.67.

Northern Trust (NASDAQ:NTRS - Get Free Report) last posted 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%. On average, sell-side analysts predict that Northern Trust Co. will post 8.27 EPS for the current fiscal year.

Northern Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a $0.75 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.04%. Northern Trust's payout ratio is presently 30.67%.

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.