KLP Kapitalforvaltning AS Makes New Investment in Northern Trust Co. (NASDAQ:NTRS)

KLP Kapitalforvaltning AS acquired a new position in shares of Northern Trust Co. (NASDAQ:NTRS - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 72,109 shares of the asset manager's stock, valued at approximately $7,437,000.

A number of other institutional investors and hedge funds have also bought and sold shares of NTRS. Ballentine Partners LLC increased its stake in shares of Northern Trust by 4.4% during the fourth 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 period. Mirae Asset Global Investments Co. Ltd. increased its position 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 period. JPMorgan Chase & Co. raised its holdings 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. Kovitz Investment Group Partners LLC boosted its stake in shares of Northern Trust by 68.1% during the third quarter. Kovitz Investment Group Partners LLC now owns 13,765 shares of the asset manager's stock valued at $1,239,000 after purchasing an additional 5,578 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Northern Trust by 0.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,267,406 shares of the asset manager's stock valued at $129,909,000 after purchasing an additional 8,102 shares in the last quarter. 83.19% of the stock is owned by institutional investors.

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Northern Trust Price Performance

NTRS stock traded down $2.02 during mid-day trading on Friday, reaching $98.53. 53,958 shares of the company's stock were exchanged, compared to its average volume of 1,246,954. The company has a market cap of $19.28 billion, a price-to-earnings ratio of 10.07, a price-to-earnings-growth ratio of 1.72 and a beta of 1.07. Northern Trust Co. has a 12-month low of $79.32 and a 12-month high of $114.67. The stock's 50 day moving average is $107.23 and its 200 day moving average is $102.71. 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 issued its quarterly earnings results 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%. On average, research analysts expect that Northern Trust Co. will post 8.27 EPS for the current year.

Northern Trust Announces Dividend

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

Insider Transactions at Northern Trust

In other Northern Trust news, EVP Thomas A. South sold 3,804 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $113.00, for a total value of $429,852.00. Following the transaction, the executive vice president now directly owns 81,794 shares of the company's stock, valued at $9,242,722. This trade represents a 4.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider John Landers sold 900 shares of the company's stock in a transaction that occurred 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 owns 7,640 shares of the company's stock, valued at $851,401.60. This trade represents a 10.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,335 shares of company stock valued at $3,970,211. Corporate insiders own 0.64% of the company's stock.

Analysts Set New Price Targets

NTRS has been the subject of a number of analyst reports. Royal Bank of Canada upped their target price on Northern Trust from $107.00 to $115.00 and gave the stock an "outperform" rating in a report on Friday, January 24th. Keefe, Bruyette & Woods raised 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. The Goldman Sachs Group upped 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. Citigroup dropped their price target on Northern Trust from $110.00 to $105.00 and set a "neutral" rating on the stock in a research note on Monday. Finally, Truist Financial lifted their target price on shares of Northern Trust from $110.00 to $116.00 and gave the stock a "hold" rating in a research note on Friday, January 24th. 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, Northern Trust has a consensus rating of "Hold" and an average target price of $113.46.

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.