QRG Capital Management Inc. acquired a new position in shares of Northern Trust Co. (NASDAQ:NTRS - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 2,919 shares of the asset manager's stock, valued at approximately $299,000.
A number of other hedge funds have also modified their holdings of the company. Proficio Capital Partners LLC bought a new position in shares of Northern Trust during the fourth quarter worth about $51,000. Mn Services Vermogensbeheer B.V. grew its holdings in shares of Northern Trust by 2.3% during the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 81,198 shares of the asset manager's stock worth $8,323,000 after buying an additional 1,800 shares in the last quarter. Harfst & Associates Inc. grew its stake in Northern Trust by 0.7% in the fourth quarter. Harfst & Associates Inc. now owns 27,998 shares of the asset manager's stock valued at $2,870,000 after purchasing an additional 189 shares in the last quarter. Illinois Municipal Retirement Fund grew its stake in Northern Trust by 43.6% in the fourth quarter. Illinois Municipal Retirement Fund now owns 142,069 shares of the asset manager's stock valued at $14,562,000 after purchasing an additional 43,131 shares in the last quarter. Finally, IFP Advisors Inc grew its stake in Northern Trust by 28.0% in the fourth quarter. IFP Advisors Inc now owns 1,526 shares of the asset manager's stock valued at $156,000 after purchasing an additional 334 shares in the last quarter. 83.19% of the stock is currently owned by institutional investors.
Insider Buying and Selling at Northern Trust
In other Northern Trust news, COO Peter Cherecwich sold 26,132 shares of Northern Trust stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $112.36, for a total value of $2,936,191.52. Following the completion of the transaction, the chief operating officer now directly owns 26,586 shares of the company's stock, valued at $2,987,202.96. The trade was a 49.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jane Karpinski sold 2,262 shares of Northern Trust stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $111.33, for a total value 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. The trade was a 11.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,335 shares of company stock valued at $3,970,211 in the last three months. Corporate insiders own 0.64% of the company's stock.
Northern Trust Stock Performance
NASDAQ:NTRS traded up $0.49 during mid-day trading on Friday, hitting $104.32. 1,294,515 shares of the stock were exchanged, compared to its average volume of 1,244,378. The stock has a market capitalization of $20.42 billion, a price-to-earnings ratio of 10.67, a price-to-earnings-growth ratio of 1.72 and a beta of 1.07. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.68. The firm's 50-day simple moving average is $108.20 and its 200 day simple moving average is $101.91. Northern Trust Co. has a fifty-two week low of $79.30 and a fifty-two week 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 for the quarter, beating the consensus estimate 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 analysts anticipate that Northern Trust Co. will post 8.27 EPS 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 of this dividend is Friday, March 14th. This represents a $3.00 annualized dividend and a yield of 2.88%. Northern Trust's dividend payout ratio is presently 30.67%.
Analysts Set New Price Targets
NTRS has been the subject of a number of recent analyst reports. Wells Fargo & Company raised their price objective on Northern Trust from $108.00 to $110.00 and gave the company an "equal weight" rating in a research report on Friday, November 15th. StockNews.com cut Northern Trust from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. UBS Group raised their price objective on Northern Trust from $110.00 to $114.00 and gave the company a "neutral" rating in a research report on Monday, January 27th. Royal Bank of Canada raised their price objective on Northern Trust from $107.00 to $115.00 and gave the company an "outperform" rating in a research report on Friday, January 24th. Finally, The Goldman Sachs Group raised their price objective on Northern Trust from $92.00 to $102.00 and gave the company a "sell" rating in a research report on Friday, January 24th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $113.50.
Read Our Latest Stock Analysis on Northern Trust
Northern Trust Company Profile
(
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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