Convergence Investment Partners LLC Buys 8,629 Shares of Northern Trust Co. (NASDAQ:NTRS)

Convergence Investment Partners LLC boosted its position in Northern Trust Co. (NASDAQ:NTRS - Free Report) by 51.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 25,426 shares of the asset manager's stock after purchasing an additional 8,629 shares during the period. Convergence Investment Partners LLC's holdings in Northern Trust were worth $2,606,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Y.D. More Investments Ltd grew its position in Northern Trust by 118.4% during the fourth quarter. Y.D. More Investments Ltd now owns 249 shares of the asset manager's stock valued at $26,000 after buying an additional 135 shares during the period. Empirical Asset Management LLC purchased a new position in shares of Northern Trust during the 4th quarter worth $33,000. Northwest Investment Counselors LLC purchased a new stake in shares of Northern Trust in the 3rd quarter worth $39,000. Brooklyn Investment Group raised its holdings in Northern Trust by 51.2% in the 4th quarter. Brooklyn Investment Group now owns 378 shares of the asset manager's stock worth $39,000 after purchasing an additional 128 shares during the period. Finally, Capital Performance Advisors LLP purchased a new position in Northern Trust during the third quarter valued at $48,000. 83.19% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Northern Trust news, insider John Landers sold 900 shares of the business's stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $111.44, for a total transaction of $100,296.00. Following the transaction, the insider now owns 7,640 shares in the company, valued at $851,401.60. The trade was a 10.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Peter Cherecwich sold 26,132 shares of the stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $112.36, for a total transaction of $2,936,191.52. Following the completion of the sale, the chief operating officer now directly owns 26,586 shares in the company, valued at approximately $2,987,202.96. This represents a 49.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 44,435 shares of company stock valued at $4,980,311 over the last ninety days. 0.64% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. UBS Group lifted 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. Wells Fargo & Company lifted their price target on shares of Northern Trust from $108.00 to $110.00 and gave the company an "equal weight" rating in a report on Friday, November 15th. Evercore ISI increased their price objective on shares of Northern Trust from $86.00 to $103.00 and gave the stock an "in-line" rating in a research note on Thursday, October 24th. Royal Bank of Canada lifted 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. Finally, Keefe, Bruyette & Woods upped their target price on shares of Northern Trust from $113.00 to $122.00 and gave the stock a "market perform" rating in a report on Friday, January 24th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, Northern Trust currently has a consensus rating of "Hold" and an average price target of $112.58.

Northern Trust Price Performance

Shares of NASDAQ NTRS traded down $0.56 during midday trading on Friday, reaching $112.97. 1,006,850 shares of the stock traded hands, compared to its average volume of 1,204,719. The company's 50 day moving average is $107.09 and its 200 day moving average is $99.85. Northern Trust Co. has a one year low of $79.30 and a one year high of $114.67. The stock has a market capitalization of $22.39 billion, a PE ratio of 11.55, a P/E/G ratio of 1.73 and a beta of 1.08. 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 released its quarterly earnings data on Thursday, January 23rd. The asset manager reported $2.26 EPS 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%. On average, equities research analysts anticipate that Northern Trust Co. will post 8.25 earnings per share for the current year.

Northern Trust Announces Dividend

The business also recently declared 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. The ex-dividend date is Friday, March 14th. This represents a $3.00 annualized dividend and a yield of 2.66%. Northern Trust's dividend payout ratio is currently 30.67%.

Northern Trust Company 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.