Meeder Asset Management Inc. boosted its position in shares of Northern Trust Co. (NASDAQ:NTRS - Free Report) by 28.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 128,396 shares of the asset manager's stock after purchasing an additional 28,615 shares during the period. Northern Trust comprises 0.9% of Meeder Asset Management Inc.'s holdings, making the stock its 24th biggest holding. Meeder Asset Management Inc. owned approximately 0.06% of Northern Trust worth $13,161,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NTRS. Y.D. More Investments Ltd lifted its position in shares of Northern Trust by 118.4% during the fourth quarter. Y.D. More Investments Ltd now owns 249 shares of the asset manager's stock worth $26,000 after purchasing an additional 135 shares during the last quarter. Assetmark Inc. lifted its holdings in Northern Trust by 528.3% during the 4th quarter. Assetmark Inc. now owns 377 shares of the asset manager's stock valued at $39,000 after buying an additional 317 shares in the last quarter. Brooklyn Investment Group boosted its position in Northern Trust by 51.2% in the 4th quarter. Brooklyn Investment Group now owns 378 shares of the asset manager's stock valued at $39,000 after buying an additional 128 shares during the period. EverSource Wealth Advisors LLC grew its stake in Northern Trust by 83.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 494 shares of the asset manager's stock worth $51,000 after acquiring an additional 224 shares in the last quarter. Finally, Friedenthal Financial purchased a new position in shares of Northern Trust during the fourth quarter worth approximately $57,000. 83.19% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on NTRS. Evercore ISI dropped their price objective on Northern Trust from $113.00 to $104.00 and set an "in-line" rating on the stock in a research note on Tuesday. Bank of America dropped their price target on Northern Trust from $123.00 to $121.00 and set a "buy" rating on the stock in a research report on Wednesday. Wells Fargo & Company decreased their price objective on Northern Trust from $119.00 to $118.00 and set an "equal weight" rating for the company in a report on Friday, March 28th. Royal Bank of Canada increased their target price on shares of Northern Trust from $107.00 to $115.00 and gave the stock an "outperform" rating in a report on Friday, January 24th. Finally, Citigroup reduced their price target on shares of Northern Trust from $110.00 to $105.00 and set a "neutral" rating for the company in a report on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $113.69.
Get Our Latest Report on Northern Trust
Insider Activity at Northern Trust
In other news, EVP Jane Karpinski sold 2,262 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $111.33, for a total value of $251,828.46. Following the sale, the executive vice president now owns 17,236 shares in the company, valued at $1,918,883.88. This represents a 11.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Thomas A. South sold 3,804 shares of the firm's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $113.00, for a total transaction of $429,852.00. Following the transaction, the executive vice president now directly owns 81,794 shares of the company's stock, valued at approximately $9,242,722. This trade represents a 4.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,335 shares of company stock valued at $3,970,211 in the last ninety days. Company insiders own 0.77% of the company's stock.
Northern Trust Stock Up 0.8 %
NTRS stock traded up $0.78 on Wednesday, hitting $98.73. 1,246,604 shares of the company's stock were exchanged, compared to its average volume of 1,233,014. The firm has a 50 day moving average price of $106.68 and a two-hundred day moving average price of $103.14. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.68. Northern Trust Co. has a 12-month low of $79.32 and a 12-month high of $114.67. The stock has a market cap of $19.32 billion, a P/E ratio of 10.10, a price-to-earnings-growth ratio of 1.72 and a beta of 1.07.
Northern Trust (NASDAQ:NTRS - Get Free Report) last announced 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%. As a group, equities 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 was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date of this dividend was Friday, March 14th. Northern Trust's dividend payout ratio (DPR) is presently 30.67%.
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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