King Luther Capital Management Corp cut its position in Northern Trust Co. (NASDAQ:NTRS - Free Report) by 12.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 41,313 shares of the asset manager's stock after selling 6,100 shares during the period. King Luther Capital Management Corp's holdings in Northern Trust were worth $4,235,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC grew its stake in Northern Trust by 9.3% during the third quarter. FMR LLC now owns 18,187,663 shares of the asset manager's stock valued at $1,637,435,000 after acquiring an additional 1,542,685 shares in the last quarter. KBC Group NV grew its stake in Northern Trust by 201.6% during the fourth quarter. KBC Group NV now owns 963,811 shares of the asset manager's stock valued at $98,791,000 after acquiring an additional 644,261 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Northern Trust by 9.9% during the third quarter. JPMorgan Chase & Co. now owns 4,296,442 shares of the asset manager's stock valued at $386,809,000 after acquiring an additional 388,692 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its stake in Northern Trust by 62.8% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 678,461 shares of the asset manager's stock valued at $69,542,000 after acquiring an additional 261,797 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in Northern Trust by 67.4% during the third quarter. Victory Capital Management Inc. now owns 403,990 shares of the asset manager's stock valued at $36,371,000 after acquiring an additional 162,623 shares in the last quarter. 83.19% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at Northern Trust
In related news, insider John Landers sold 900 shares of Northern Trust stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $111.44, for a total transaction of $100,296.00. Following the completion of the sale, the insider now owns 7,640 shares in the company, valued at $851,401.60. This trade represents a 10.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jason J. Tyler sold 2,237 shares of Northern Trust stock in a transaction dated 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 owns 58,449 shares of the company's stock, valued at $6,585,448.83. The trade was a 3.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,335 shares of company stock worth $3,970,211 in the last 90 days. 0.64% of the stock is owned by corporate insiders.
Northern Trust Trading Up 1.9 %
Shares of Northern Trust stock traded up $1.79 during trading on Friday, hitting $97.88. The stock had a trading volume of 999,589 shares, compared to its average volume of 1,259,442. Northern Trust Co. has a 12 month low of $79.32 and a 12 month high of $114.67. The firm's fifty day simple moving average is $107.74 and its 200-day simple moving average is $102.16. The stock has a market cap of $19.15 billion, a PE ratio of 10.01, a PEG ratio of 1.72 and a beta of 1.07. 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 for the quarter, beating analysts' consensus estimates of $1.96 by $0.30. Northern Trust had a net margin of 12.77% and a return on equity of 13.74%. As a group, sell-side analysts expect that Northern Trust Co. will post 8.27 EPS for the current fiscal year.
Northern Trust Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $3.00 dividend on an annualized basis and a yield of 3.06%. Northern Trust's payout ratio is 30.67%.
Wall Street Analysts Forecast Growth
Several research firms recently weighed in on NTRS. Royal Bank of Canada raised their target price on shares of Northern Trust from $107.00 to $115.00 and gave the company an "outperform" rating in a research note on Friday, January 24th. StockNews.com cut shares of Northern Trust from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. UBS Group lifted their price objective on shares of Northern Trust from $110.00 to $114.00 and gave the stock a "neutral" rating in a research note on Monday, January 27th. The Goldman Sachs Group lifted their price objective on shares of Northern Trust from $92.00 to $102.00 and gave the stock a "sell" rating in a research note on Friday, January 24th. Finally, Barclays lifted their price objective on shares of Northern Trust from $115.00 to $118.00 and gave the stock an "equal weight" rating in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $113.50.
View Our Latest Stock Report on NTRS
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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