JPMorgan Chase & Co. decreased its holdings in shares of Northern Trust Co. (NASDAQ:NTRS - Free Report) by 31.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 2,963,203 shares of the asset manager's stock after selling 1,333,239 shares during the period. JPMorgan Chase & Co. owned approximately 1.49% of Northern Trust worth $303,728,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Y.D. More Investments Ltd increased its holdings in Northern Trust by 118.4% in 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. Assetmark Inc. increased its stake in shares of Northern Trust by 528.3% in the 4th quarter. Assetmark Inc. now owns 377 shares of the asset manager's stock valued at $39,000 after acquiring an additional 317 shares during the last quarter. Brooklyn Investment Group raised its position in shares of 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 acquiring an additional 128 shares during the period. EverSource Wealth Advisors LLC boosted its stake in Northern Trust by 83.0% during 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 during the last quarter. Finally, Friedenthal Financial acquired a new position in Northern Trust during the fourth quarter valued at approximately $57,000. Institutional investors and hedge funds own 83.19% of the company's stock.
Insider Buying and Selling at Northern Trust
In other Northern Trust news, EVP Thomas A. South sold 3,804 shares of the company's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $113.00, for a total value of $429,852.00. Following the sale, the executive vice president now owns 81,794 shares of the company's stock, valued at approximately $9,242,722. This represents a 4.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jason J. Tyler sold 2,237 shares of Northern Trust stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $112.67, for a total value of $252,042.79. Following the sale, the insider now owns 58,449 shares of the company's stock, valued at approximately $6,585,448.83. This represents a 3.69 % 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 over the last quarter. 0.77% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
NTRS has been the topic of a number of recent analyst reports. Citigroup reduced their price target on shares of Northern Trust from $110.00 to $105.00 and set a "neutral" rating on the stock in a research report on Monday, March 24th. Keefe, Bruyette & Woods lifted their price objective on Northern Trust from $113.00 to $122.00 and gave the company a "market perform" rating in a report on Friday, January 24th. UBS Group increased their target price on Northern Trust from $110.00 to $114.00 and gave the stock a "neutral" rating in a report on Monday, January 27th. StockNews.com lowered shares of Northern Trust from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. Finally, The Goldman Sachs Group increased 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. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $113.54.
Get Our Latest Analysis on Northern Trust
Northern Trust Price Performance
NASDAQ NTRS traded down $0.70 during trading hours on Tuesday, reaching $97.95. The company's stock had a trading volume of 1,275,479 shares, compared to its average volume of 1,232,959. The firm's 50-day moving average price is $106.68 and its 200-day moving average price is $103.14. Northern Trust Co. has a 1 year low of $79.32 and a 1 year high of $114.67. The company has a market capitalization of $19.17 billion, a price-to-earnings ratio of 10.02, a PEG 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 (NASDAQ:NTRS - Get Free Report) last posted its quarterly earnings results on Thursday, January 23rd. The asset manager reported $2.26 earnings per share 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 predict that Northern Trust Co. will post 8.27 EPS for the current fiscal year.
Northern Trust Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date of this dividend is Friday, March 14th. Northern Trust's dividend payout ratio (DPR) is presently 30.67%.
Northern Trust 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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