Swedbank AB increased its holdings in Northern Trust Co. (NASDAQ:NTRS - Free Report) by 26.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 20,027 shares of the asset manager's stock after buying an additional 4,206 shares during the period. Swedbank AB's holdings in Northern Trust were worth $2,053,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of NTRS. FMR LLC lifted its stake in Northern Trust by 9.3% in the 3rd quarter. FMR LLC now owns 18,187,663 shares of the asset manager's stock worth $1,637,435,000 after purchasing an additional 1,542,685 shares in the last quarter. KBC Group NV raised its position in shares of Northern Trust by 201.6% in the fourth quarter. KBC Group NV now owns 963,811 shares of the asset manager's stock worth $98,791,000 after buying an additional 644,261 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Northern Trust by 9.9% during 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 during the period. Robeco Institutional Asset Management B.V. grew its position in Northern Trust by 62.8% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 678,461 shares of the asset manager's stock worth $69,542,000 after buying an additional 261,797 shares in the last quarter. Finally, International Assets Investment Management LLC increased its stake in Northern Trust by 93,421.2% in the 3rd quarter. International Assets Investment Management LLC now owns 185,172 shares of the asset manager's stock worth $152,194,000 after acquiring an additional 184,974 shares during the last quarter. 83.19% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
NTRS has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft boosted their price objective on Northern Trust from $100.00 to $108.00 and gave the stock a "hold" rating in a report on Monday, November 11th. Truist Financial increased their price target on shares of Northern Trust from $110.00 to $116.00 and gave the stock a "hold" rating in a report on Friday, January 24th. Bank of America upped their target price on shares of Northern Trust from $103.00 to $115.00 and gave the stock a "buy" rating in a research report on Thursday, October 24th. StockNews.com raised Northern Trust from a "hold" rating to a "buy" rating in a research note on Friday, January 24th. Finally, Keefe, Bruyette & Woods increased their price objective on 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 research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $112.58.
Read Our Latest Stock Report on NTRS
Northern Trust Trading Up 1.7 %
Shares of Northern Trust stock traded up $1.84 during trading on Wednesday, reaching $113.22. 1,181,365 shares of the stock were exchanged, compared to its average volume of 1,199,215. Northern Trust Co. has a 1 year low of $76.67 and a 1 year high of $114.21. The firm has a market cap of $22.44 billion, a price-to-earnings ratio of 11.58, a price-to-earnings-growth ratio of 1.72 and a beta of 1.08. 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 stock's fifty day moving average is $106.27 and its 200 day moving average is $97.95.
Northern Trust (NASDAQ:NTRS - Get Free Report) last announced its quarterly earnings results on Thursday, January 23rd. The asset manager reported $2.26 EPS for the quarter, topping 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%. As a group, equities research analysts expect that Northern Trust Co. will post 8.2 earnings per share for the current fiscal year.
Northern Trust Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a $0.75 dividend. The ex-dividend date is Friday, March 14th. This represents a $3.00 annualized dividend and a yield of 2.65%. Northern Trust's dividend payout ratio (DPR) is presently 30.67%.
Insider Buying and Selling at Northern Trust
In other news, EVP Thomas A. South sold 5,000 shares of the company's stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $105.80, for a total value of $529,000.00. Following the transaction, the executive vice president now owns 49,756 shares in the company, valued at approximately $5,264,184.80. This represents a 9.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Peter Cherecwich sold 26,132 shares of the business's stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $112.36, for a total transaction of $2,936,191.52. Following the completion of the transaction, the chief operating officer now owns 26,586 shares of the company's stock, valued at approximately $2,987,202.96. The trade was a 49.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 60,884 shares of company stock valued at $6,678,135. 0.64% of the stock is currently owned by corporate insiders.
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.
See Also
Before you consider Northern Trust, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Northern Trust wasn't on the list.
While Northern Trust currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat has just released its list of 20 stocks that Wall Street analysts hate. These companies may appear to have good fundamentals, but top analysts smell something seriously rotten. Are any of these companies lurking around your portfolio?
Get This Free Report
