Madison Investment Advisors LLC purchased a new stake in shares of Northern Trust Co. (NASDAQ:NTRS - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 73,265 shares of the asset manager's stock, valued at approximately $7,510,000.
A number of other hedge funds also recently added to or reduced their stakes in the company. Ballentine Partners LLC boosted its stake in shares of Northern Trust by 4.4% in the 4th quarter. Ballentine Partners LLC now owns 2,483 shares of the asset manager's stock worth $255,000 after buying an additional 105 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Northern Trust by 24.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,061 shares of the asset manager's stock worth $2,286,000 after buying an additional 4,374 shares during the last quarter. JPMorgan Chase & Co. grew its position 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 buying an additional 388,692 shares during the period. Kovitz Investment Group Partners LLC grew its position 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 valued at $1,239,000 after acquiring an additional 5,578 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings 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 period. 83.19% of the stock is currently owned by hedge funds and other institutional investors.
Northern Trust Stock Down 0.2 %
Shares of NASDAQ:NTRS traded down $0.16 during trading on Wednesday, reaching $101.44. The stock had a trading volume of 958,006 shares, compared to its average volume of 1,177,187. The firm's 50-day simple moving average is $107.45 and its 200 day simple moving average is $102.74. The company has a current ratio of 0.68, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. Northern Trust Co. has a one year low of $79.32 and a one year high of $114.67. The company has a market capitalization of $19.85 billion, a P/E ratio of 10.37, a PEG ratio of 1.72 and a beta of 1.07.
Northern Trust (NASDAQ:NTRS - Get Free Report) last announced its earnings results on Thursday, January 23rd. The asset manager reported $2.26 earnings per share for the quarter, beating 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%. As a group, research 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 given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 2.96%. The ex-dividend date of this dividend is Friday, March 14th. Northern Trust's payout ratio is currently 30.67%.
Insider Activity at Northern Trust
In other Northern Trust news, COO Peter Cherecwich sold 26,132 shares of the firm's stock in a transaction 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 transaction, the chief operating officer now owns 26,586 shares of the company's stock, valued at approximately $2,987,202.96. This trade represents a 49.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jason J. Tyler sold 2,237 shares of the business's stock in a transaction 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 sold 35,335 shares of company stock valued at $3,970,211 in the last three months. 0.64% of the stock is owned by insiders.
Analysts Set New Price Targets
NTRS has been the topic of several recent research reports. Truist Financial raised their price objective on Northern Trust from $110.00 to $116.00 and gave the stock a "hold" rating in a research note on Friday, January 24th. Keefe, Bruyette & Woods lifted their price target on shares of Northern Trust from $113.00 to $122.00 and gave the company a "market perform" rating in a report on Friday, January 24th. StockNews.com downgraded shares of Northern Trust from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. Morgan Stanley lowered their target price on shares of Northern Trust from $138.00 to $136.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 6th. Finally, UBS Group boosted their price objective on Northern Trust from $110.00 to $114.00 and gave the company a "neutral" rating in a research report on Monday, January 27th. One 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 company. Based on data from MarketBeat.com, Northern Trust has a consensus rating of "Hold" and a consensus target price of $112.85.
Read Our Latest Stock Report on NTRS
Northern Trust 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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