Primecap Management Co. CA decreased its holdings in shares of Northern Trust Co. (NASDAQ:NTRS - Free Report) by 5.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,720,607 shares of the asset manager's stock after selling 364,510 shares during the quarter. Primecap Management Co. CA owned approximately 3.39% of Northern Trust worth $688,862,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NTRS. FMR LLC lifted its stake in shares of Northern Trust by 9.3% during the 3rd quarter. FMR LLC now owns 18,187,663 shares of the asset manager's stock worth $1,637,435,000 after buying an additional 1,542,685 shares during the last quarter. KBC Group NV lifted its position in Northern Trust by 201.6% during the fourth quarter. KBC Group NV now owns 963,811 shares of the asset manager's stock worth $98,791,000 after acquiring an additional 644,261 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Northern Trust by 9.9% during the third quarter. JPMorgan Chase & Co. now owns 4,296,442 shares of the asset manager's stock worth $386,809,000 after acquiring an additional 388,692 shares during the period. Robeco Institutional Asset Management B.V. grew its position in shares of Northern Trust by 62.8% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 678,461 shares of the asset manager's stock valued at $69,542,000 after purchasing an additional 261,797 shares during the last quarter. Finally, NFJ Investment Group LLC bought a new position in shares of Northern Trust during the third quarter worth approximately $7,682,000. 83.19% of the stock is owned by institutional investors.
Insider Activity
In other Northern Trust news, EVP Jane Karpinski sold 2,262 shares of the firm's stock in a transaction that occurred 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 transaction, the executive vice president now owns 17,236 shares in the company, valued at approximately $1,918,883.88. This trade represents a 11.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Landers sold 900 shares of the company's stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $111.44, for a total transaction of $100,296.00. Following the completion of the sale, the insider now directly owns 7,640 shares in the company, valued at approximately $851,401.60. This represents a 10.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 35,335 shares of company stock valued at $3,970,211. Company insiders own 0.64% of the company's stock.
Northern Trust Trading Down 0.1 %
Shares of NTRS stock traded down $0.10 during mid-day trading on Friday, reaching $98.77. 3,686,301 shares of the stock traded hands, compared to its average volume of 1,180,034. The stock's fifty day simple moving average is $107.44 and its two-hundred day simple moving average is $102.32. 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 1-year low of $79.32 and a 1-year high of $114.67. The company has a market cap of $19.33 billion, a price-to-earnings 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 released its quarterly earnings results 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%. On average, research analysts anticipate that Northern Trust Co. will post 8.27 EPS for the current fiscal year.
Northern Trust Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a $0.75 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.04%. Northern Trust's dividend payout ratio (DPR) is presently 30.67%.
Analyst Ratings Changes
A number of brokerages have commented on NTRS. Barclays upped their price objective on Northern Trust from $115.00 to $118.00 and gave the company an "equal weight" rating in a report on Monday, January 6th. StockNews.com cut shares of Northern Trust from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. Morgan Stanley reduced their price target on Northern Trust from $138.00 to $136.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 6th. UBS Group increased their price objective 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. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Northern Trust from $113.00 to $122.00 and gave the company a "market perform" rating in a research report on Friday, January 24th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $113.50.
Read Our Latest Stock Analysis on NTRS
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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