Invesco Ltd. grew its position in shares of Northern Trust Co. (NASDAQ:NTRS - Free Report) by 7.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,885,312 shares of the asset manager's stock after purchasing an additional 202,327 shares during the period. Invesco Ltd. owned 1.46% of Northern Trust worth $295,744,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank acquired a new position in Northern Trust in the 4th quarter worth $83,550,000. KBC Group NV boosted its holdings in Northern Trust by 201.6% in the fourth quarter. KBC Group NV now owns 963,811 shares of the asset manager's stock valued at $98,791,000 after purchasing an additional 644,261 shares during the last quarter. Cerity Partners LLC grew its stake in 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 in the last quarter. ExodusPoint Capital Management LP acquired a new position in shares of Northern Trust in the 4th quarter valued at approximately $42,715,000. Finally, JPMorgan Chase & Co. raised its position in shares of 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 in the last quarter. Hedge funds and other institutional investors own 83.19% of the company's stock.
Wall Street Analysts Forecast Growth
NTRS has been the topic of a number of research analyst reports. Evercore ISI reduced their price objective on shares of Northern Trust from $113.00 to $104.00 and set an "in-line" rating on the stock in a research note on Tuesday, April 1st. StockNews.com downgraded Northern Trust from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. UBS Group raised their price objective on Northern Trust from $110.00 to $114.00 and gave the stock a "neutral" rating in a research note on Monday, January 27th. Citigroup lowered their target price 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, Truist Financial decreased their price target on shares of Northern Trust from $116.00 to $98.00 and set a "hold" rating for the company in a report on Friday, April 4th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $112.31.
Check Out Our Latest Stock Analysis on NTRS
Insiders Place Their Bets
In related 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 value of $2,936,191.52. Following the completion of the sale, the chief operating officer now owns 26,586 shares in the company, valued at approximately $2,987,202.96. This represents a 49.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jason J. Tyler sold 2,237 shares of Northern Trust stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $112.67, for a total value of $252,042.79. Following the transaction, the insider now owns 58,449 shares in the company, valued at $6,585,448.83. This represents a 3.69 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 35,335 shares of company stock worth $3,970,211. Company insiders own 0.77% of the company's stock.
Northern Trust Price Performance
Shares of NTRS traded down $0.10 during midday trading on Tuesday, reaching $89.71. The stock had a trading volume of 870,902 shares, compared to its average volume of 1,260,141. The firm's 50 day moving average price is $101.83 and its 200-day moving average price is $102.93. Northern Trust Co. has a 52 week low of $79.32 and a 52 week high of $114.67. The company has a market capitalization of $17.56 billion, a P/E ratio of 9.18, a P/E/G ratio of 1.72 and a beta of 1.10. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.68 and a quick ratio of 0.71.
Northern Trust (NASDAQ:NTRS - Get Free Report) last announced its quarterly earnings data 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 net margin of 12.77% and a return on equity of 13.74%. On average, analysts forecast that Northern Trust Co. will post 8.27 earnings per share for the current fiscal year.
Northern Trust Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were paid 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 yield of 3.34%. Northern Trust's dividend payout ratio is currently 30.67%.
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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