Pitcairn Co. boosted its holdings in Northern Trust Co. (NASDAQ:NTRS - Free Report) by 53.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,518 shares of the asset manager's stock after purchasing an additional 8,567 shares during the period. Pitcairn Co.'s holdings in Northern Trust were worth $2,513,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in NTRS. ExodusPoint Capital Management LP purchased a new stake in shares of Northern Trust during the fourth quarter valued at approximately $42,715,000. Bryce Point Capital LLC bought a new stake in shares of Northern Trust in the fourth quarter worth about $545,000. Massachusetts Financial Services Co. MA raised its position in Northern Trust by 1.2% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,486,616 shares of the asset manager's stock valued at $767,378,000 after purchasing an additional 92,162 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Northern Trust by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 4,904,871 shares of the asset manager's stock worth $501,444,000 after buying an additional 30,908 shares during the last quarter. Finally, Diametric Capital LP bought a new stake in Northern Trust in the fourth quarter valued at $359,000. 83.19% of the stock is currently owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other news, COO Peter Cherecwich sold 26,132 shares of the firm's stock in a transaction dated 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 in the company, valued at $2,987,202.96. This trade represents a 49.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Thomas A. South sold 3,804 shares of the business's 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 in the company, valued at $9,242,722. This represents a 4.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,335 shares of company stock worth $3,970,211 in the last three months. 0.77% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
NTRS has been the subject of several research reports. Truist Financial decreased their price target on shares of Northern Trust from $116.00 to $98.00 and set a "hold" rating for the company in a research note on Friday. 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 research note on Friday, January 24th. Evercore ISI cut their target price on Northern Trust from $113.00 to $104.00 and set an "in-line" rating on the stock in a research note on Tuesday, April 1st. Wells Fargo & Company lowered their price target on Northern Trust from $119.00 to $118.00 and set an "equal weight" rating for the company in a research report on Friday, March 28th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Northern Trust from $113.00 to $122.00 and gave the stock a "market perform" rating in a research note on Friday, January 24th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $112.31.
Get Our Latest Stock Report on NTRS
Northern Trust Stock Performance
Shares of NASDAQ NTRS traded up $1.27 during trading on Tuesday, hitting $86.77. The company had a trading volume of 390,445 shares, compared to its average volume of 1,240,955. The stock has a 50 day simple moving average of $105.11 and a 200 day simple moving average of $103.12. The firm has a market capitalization of $16.98 billion, a P/E ratio of 8.90, a price-to-earnings-growth ratio of 1.72 and a beta of 1.10. 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.
Northern Trust (NASDAQ:NTRS - Get Free Report) last announced its quarterly earnings data on Thursday, January 23rd. The asset manager reported $2.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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, analysts anticipate that Northern Trust Co. will post 8.27 earnings per share for the current year.
Northern Trust Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were issued a $0.75 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $3.00 dividend on an annualized basis and a yield of 3.46%. Northern Trust's dividend payout ratio is presently 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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