Massachusetts Financial Services Co. MA lifted its position in Northern Trust Co. (NASDAQ:NTRS - Free Report) by 1.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 7,486,616 shares of the asset manager's stock after purchasing an additional 92,162 shares during the quarter. Massachusetts Financial Services Co. MA owned 3.78% of Northern Trust worth $767,378,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in the company. Ballentine Partners LLC lifted its holdings in Northern Trust by 4.4% during the 4th quarter. Ballentine Partners LLC now owns 2,483 shares of the asset manager's stock worth $255,000 after buying an additional 105 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Northern Trust by 24.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,061 shares of the asset manager's stock worth $2,286,000 after purchasing an additional 4,374 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Northern Trust by 9.9% in the third quarter. JPMorgan Chase & Co. now owns 4,296,442 shares of the asset manager's stock valued at $386,809,000 after buying an additional 388,692 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Northern Trust by 0.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,267,406 shares of the asset manager's stock valued at $129,909,000 after acquiring an additional 8,102 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC increased its position in shares of Northern Trust by 68.1% in the third quarter. Kovitz Investment Group Partners LLC now owns 13,765 shares of the asset manager's stock valued at $1,239,000 after acquiring an additional 5,578 shares during the last quarter. 83.19% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several research analysts have weighed in on the company. StockNews.com lowered Northern Trust from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. Morgan Stanley dropped their target price on shares of Northern Trust from $136.00 to $132.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 2nd. Wells Fargo & Company decreased their target price on Northern Trust from $119.00 to $118.00 and set an "equal weight" rating on the stock in a research report on Friday, March 28th. Bank of America cut their price target on Northern Trust from $123.00 to $121.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. Finally, The Goldman Sachs Group lifted their price objective on Northern Trust from $92.00 to $102.00 and gave the company a "sell" rating in a report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, Northern Trust has an average rating of "Hold" and an average target price of $112.31.
Read Our Latest Analysis on Northern Trust
Insider Buying and Selling
In related news, EVP Thomas A. South sold 3,804 shares of Northern Trust stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $113.00, for a total value of $429,852.00. Following the completion of the sale, the executive vice president now 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider John Landers sold 900 shares of the company's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $111.44, for a total transaction of $100,296.00. Following the sale, the insider now directly owns 7,640 shares in the company, valued at approximately $851,401.60. This trade represents a 10.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 35,335 shares of company stock valued at $3,970,211. 0.77% of the stock is owned by company insiders.
Northern Trust Trading Down 1.8 %
Northern Trust stock traded down $1.52 during trading hours on Monday, reaching $84.49. 683,111 shares of the company's stock were exchanged, compared to its average volume of 1,238,900. Northern Trust Co. has a twelve month low of $78.12 and a twelve month high of $114.67. The company has a quick ratio of 0.71, a current ratio of 0.68 and a debt-to-equity ratio of 0.58. The firm's 50 day simple moving average is $105.63 and its 200 day simple moving average is $103.17. The firm has a market capitalization of $16.53 billion, a PE ratio of 8.61, a PEG ratio of 1.72 and a beta of 1.10.
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 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%. Research analysts predict that Northern Trust Co. will post 8.27 earnings per share for the current year.
Northern Trust Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were paid a dividend of $0.75 per share. The ex-dividend date was Friday, March 14th. This represents a $3.00 annualized dividend and a dividend yield of 3.55%. Northern Trust's payout ratio is currently 30.67%.
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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