Jackson Creek Investment Advisors LLC grew its holdings in Northern Trust Co. (NASDAQ:NTRS - Free Report) by 217.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,181 shares of the asset manager's stock after purchasing an additional 6,292 shares during the period. Jackson Creek Investment Advisors LLC's holdings in Northern Trust were worth $941,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of NTRS. Callan Family Office LLC purchased a new position in shares of Northern Trust during the 4th quarter worth $211,000. Inceptionr LLC lifted its position in Northern Trust by 107.4% during the fourth quarter. Inceptionr LLC now owns 18,079 shares of the asset manager's stock valued at $1,853,000 after purchasing an additional 9,362 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Northern Trust during the fourth quarter valued at about $7,456,000. Cullen Frost Bankers Inc. increased its position in Northern Trust by 473.0% in the fourth quarter. Cullen Frost Bankers Inc. now owns 848 shares of the asset manager's stock worth $87,000 after buying an additional 700 shares in the last quarter. Finally, Verdence Capital Advisors LLC bought a new position in shares of Northern Trust in the fourth quarter worth about $466,000. Hedge funds and other institutional investors own 83.19% of the company's stock.
Northern Trust Trading Up 0.5 %
Shares of Northern Trust stock traded up $0.49 during mid-day trading on Friday, hitting $104.32. The stock had a trading volume of 1,294,515 shares, compared to its average volume of 1,244,378. The firm has a 50-day moving average of $108.20 and a two-hundred day moving average of $101.80. The firm has a market cap of $20.42 billion, a P/E ratio of 10.67, a price-to-earnings-growth ratio of 1.72 and a beta of 1.07. The company has a quick ratio of 0.71, a current ratio of 0.68 and a debt-to-equity ratio of 0.58. Northern Trust Co. has a 12-month low of $79.30 and a 12-month high of $114.67.
Northern Trust (NASDAQ:NTRS - Get Free Report) last issued its quarterly earnings data on Thursday, January 23rd. The asset manager reported $2.26 earnings per share (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%. Sell-side analysts forecast that Northern Trust Co. will post 8.27 earnings per share for the current year.
Northern Trust Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.75 per share. The ex-dividend date is Friday, March 14th. This represents a $3.00 dividend on an annualized basis and a yield of 2.88%. Northern Trust's dividend payout ratio (DPR) is presently 30.67%.
Analyst Upgrades and Downgrades
A number of equities research analysts have commented on the stock. UBS Group raised their target price on shares of Northern Trust from $110.00 to $114.00 and gave the stock a "neutral" rating in a research note on Monday, January 27th. Truist Financial lifted their target price on shares of Northern Trust from $110.00 to $116.00 and gave the company a "hold" rating in a research note on Friday, January 24th. Barclays upped their target price on shares of Northern Trust from $115.00 to $118.00 and gave the stock an "equal weight" rating in a report on Monday, January 6th. Royal Bank of Canada raised their price target on Northern Trust from $107.00 to $115.00 and gave the company an "outperform" rating in a report on Friday, January 24th. Finally, Morgan Stanley dropped their price objective on Northern Trust from $138.00 to $136.00 and set an "equal weight" rating for the company in a research note on Thursday. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $113.50.
Read Our Latest Stock Analysis on NTRS
Insider Buying and Selling at Northern Trust
In related news, COO Peter Cherecwich sold 26,132 shares of the firm's stock in a transaction that occurred 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 sale, the chief operating officer now owns 26,586 shares of the company's stock, valued at $2,987,202.96. This trade represents a 49.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jane Karpinski sold 2,262 shares of the firm's stock in a transaction on Monday, February 3rd. The shares were 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 in the company, valued at $1,918,883.88. The trade was a 11.60 % 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 90 days. Company insiders own 0.64% of the company's stock.
Northern Trust Company Profile
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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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