Mitsubishi UFJ Asset Management Co. Ltd. Acquires 32,629 Shares of Northern Trust Co. (NASDAQ:NTRS)

Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Northern Trust Co. (NASDAQ:NTRS - Free Report) by 11.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 325,630 shares of the asset manager's stock after purchasing an additional 32,629 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.16% of Northern Trust worth $33,631,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Bank of Montreal Can grew its position in Northern Trust by 34.9% in the 3rd quarter. Bank of Montreal Can now owns 283,690 shares of the asset manager's stock valued at $25,552,000 after buying an additional 73,327 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Northern Trust by 0.9% in the third quarter. BNP Paribas Financial Markets now owns 257,997 shares of the asset manager's stock valued at $23,227,000 after acquiring an additional 2,283 shares in the last quarter. Bridgewater Associates LP increased its stake in shares of Northern Trust by 294.2% during the third quarter. Bridgewater Associates LP now owns 18,648 shares of the asset manager's stock valued at $1,679,000 after acquiring an additional 13,918 shares during the period. Public Sector Pension Investment Board raised its holdings in Northern Trust by 1.1% during the third quarter. Public Sector Pension Investment Board now owns 35,191 shares of the asset manager's stock worth $3,168,000 after purchasing an additional 400 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Northern Trust by 1.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,577,091 shares of the asset manager's stock worth $141,986,000 after purchasing an additional 16,500 shares during the period. Institutional investors own 83.19% of the company's stock.

Remove Ads

Analysts Set New Price Targets

Several brokerages have recently weighed in on NTRS. Keefe, Bruyette & Woods upped their price objective on 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 report on Tuesday, February 25th. Evercore ISI dropped their target price on shares of Northern Trust from $113.00 to $104.00 and set an "in-line" rating on the stock in a report on Tuesday. Wells Fargo & Company reduced their target price on shares of Northern Trust from $119.00 to $118.00 and set an "equal weight" rating for the company in a report on Friday. Finally, Citigroup dropped their price target on Northern Trust from $110.00 to $105.00 and set a "neutral" rating on the stock in a report on Monday, March 24th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Northern Trust has a consensus rating of "Hold" and a consensus target price of $113.54.

Northern Trust Stock Down 0.7 %

NASDAQ NTRS traded down $0.70 on Tuesday, reaching $97.95. The stock had a trading volume of 1,275,479 shares, compared to its average volume of 1,230,883. 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 1 year low of $79.32 and a 1 year high of $114.67. The business has a 50 day moving average price of $106.88 and a 200 day moving average price of $103.07. The company has a market capitalization of $19.17 billion, a price-to-earnings ratio of 10.02, a P/E/G ratio of 1.72 and a beta of 1.07.

Northern Trust (NASDAQ:NTRS - Get Free Report) last released its quarterly earnings data on Thursday, January 23rd. The asset manager reported $2.26 EPS for the quarter, topping analysts' consensus estimates 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, analysts forecast that Northern Trust Co. will post 8.27 EPS for the current fiscal year.

Northern Trust Dividend Announcement

The firm 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 $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date of this dividend is Friday, March 14th. Northern Trust's dividend payout ratio is presently 30.67%.

Insiders Place Their Bets

In other Northern Trust news, EVP Jane Karpinski sold 2,262 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $111.33, for a total transaction of $251,828.46. Following the completion of the sale, the executive vice president now owns 17,236 shares of the company's stock, valued at $1,918,883.88. This represents a 11.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Thomas A. South sold 3,804 shares of Northern Trust stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $113.00, for a total transaction of $429,852.00. Following the completion of the transaction, the executive vice president now directly owns 81,794 shares in the company, valued at approximately $9,242,722. This represents a 4.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,335 shares of company stock valued at $3,970,211 over the last three months. 0.77% of the stock is currently owned by insiders.

About Northern Trust

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.