Geode Capital Management LLC grew its stake in Northern Trust Co. (NASDAQ:NTRS - Free Report) by 0.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,904,871 shares of the asset manager's stock after buying an additional 30,908 shares during the period. Geode Capital Management LLC owned approximately 2.47% of Northern Trust worth $501,444,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. Y.D. More Investments Ltd grew its holdings 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 purchasing an additional 135 shares during the last quarter. Empirical Asset Management LLC acquired a new position in Northern Trust in the 4th quarter valued at $33,000. 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 acquiring an additional 128 shares during the period. Assetmark Inc. lifted its position in Northern Trust by 528.3% during the 4th quarter. Assetmark Inc. now owns 377 shares of the asset manager's stock worth $39,000 after acquiring an additional 317 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new stake in Northern Trust during the fourth quarter valued at about $51,000. Institutional investors own 83.19% of the company's stock.
Northern Trust Price Performance
NTRS stock traded up $8.82 during trading on Wednesday, hitting $93.27. The company had a trading volume of 2,084,608 shares, compared to its average volume of 1,250,572. The company has a fifty day moving average price of $103.22 and a two-hundred day moving average price of $102.88. Northern Trust Co. has a fifty-two week low of $79.32 and a fifty-two week high of $114.67. The company has a market cap of $18.25 billion, a P/E ratio of 9.54, a P/E/G ratio of 1.72 and a beta of 1.10. 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 (NASDAQ:NTRS - Get Free Report) last issued its earnings results 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%. Equities research analysts expect that Northern Trust Co. will post 8.27 earnings per share for the current fiscal year.
Northern Trust Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date of this dividend was Friday, March 14th. Northern Trust's dividend payout ratio (DPR) is currently 30.67%.
Wall Street Analysts Forecast Growth
A number of research firms have recently commented on NTRS. Bank of America dropped their price objective on Northern Trust from $123.00 to $121.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. Royal Bank of Canada upped their price target on Northern Trust from $107.00 to $115.00 and gave the stock an "outperform" rating in a report on Friday, January 24th. Truist Financial lowered their price objective on shares of Northern Trust from $116.00 to $98.00 and set a "hold" rating on the stock in a research note on Friday, April 4th. Wells Fargo & Company cut 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 research note on Friday, March 28th. Finally, Barclays raised their price target on shares of Northern Trust from $115.00 to $118.00 and gave the stock an "equal weight" rating in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, Northern Trust currently has a consensus rating of "Hold" and a consensus price target of $112.31.
Read Our Latest Stock Report on Northern Trust
Insider Transactions at Northern Trust
In other news, EVP Jane Karpinski sold 2,262 shares of the stock in a transaction 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 sale, the executive vice president now owns 17,236 shares in the company, valued at approximately $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 accessible through this link. 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 value of $252,042.79. Following the completion of the transaction, the insider now directly owns 58,449 shares of the company's stock, valued at $6,585,448.83. This represents a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,335 shares of company stock valued at $3,970,211 in the last three months. 0.77% of the stock is owned by corporate insiders.
About Northern Trust
(
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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