Resona Asset Management Co. Ltd. Takes $6.31 Million Position in Northern Trust Co. (NASDAQ:NTRS)

Resona Asset Management Co. Ltd. purchased a new position in shares of Northern Trust Co. (NASDAQ:NTRS - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 61,428 shares of the asset manager's stock, valued at approximately $6,308,000.

Several other institutional investors have also bought and sold shares of the company. Juncture Wealth Strategies LLC grew its stake in shares of Northern Trust by 2.4% during the 4th quarter. Juncture Wealth Strategies LLC now owns 4,212 shares of the asset manager's stock worth $432,000 after acquiring an additional 100 shares during the period. Ballentine Partners LLC lifted its stake in shares of Northern Trust by 4.4% during the 4th quarter. Ballentine Partners LLC now owns 2,483 shares of the asset manager's stock valued at $255,000 after buying an additional 105 shares in the last quarter. Pallas Capital Advisors LLC grew its stake in Northern Trust by 1.8% in the 4th quarter. Pallas Capital Advisors LLC now owns 6,091 shares of the asset manager's stock valued at $624,000 after buying an additional 107 shares in the last quarter. Bradley Foster & Sargent Inc. CT grew its holdings in Northern Trust by 2.4% during the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 4,774 shares of the asset manager's stock valued at $489,000 after buying an additional 114 shares in the last quarter. Finally, Brooklyn Investment Group lifted its holdings in shares of Northern Trust by 51.2% in the fourth quarter. Brooklyn Investment Group now owns 378 shares of the asset manager's stock worth $39,000 after buying an additional 128 shares in the last quarter. Hedge funds and other institutional investors own 83.19% of the company's stock.

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Insider Buying and Selling

In other news, EVP Thomas A. South sold 3,804 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 81,794 shares in the company, valued at $9,242,722. This trade represents a 4.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider John Landers sold 900 shares of the firm's stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $111.44, for a total value of $100,296.00. Following the transaction, the insider now directly owns 7,640 shares of the company's stock, valued at $851,401.60. This represents a 10.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 35,335 shares of company stock valued at $3,970,211 over the last three months. Corporate insiders own 0.77% of the company's stock.

Northern Trust Trading Up 0.4 %

Shares of Northern Trust stock traded up $0.35 on Friday, hitting $88.29. The stock had a trading volume of 2,003,303 shares, compared to its average volume of 1,260,611. The stock has a market cap of $17.28 billion, a price-to-earnings ratio of 9.03, a PEG ratio of 1.72 and a beta of 1.10. 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 50-day simple moving average is $102.30 and its two-hundred day simple moving average is $102.93. Northern Trust Co. has a one year low of $79.32 and a one year high of $114.67.

Northern Trust (NASDAQ:NTRS - Get Free Report) last posted its earnings results on Thursday, January 23rd. The asset manager reported $2.26 earnings per share (EPS) for the quarter, topping 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, sell-side analysts predict that Northern Trust Co. will post 8.27 EPS for the current year.

Northern Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were given a $0.75 dividend. The ex-dividend date was Friday, March 14th. This represents a $3.00 annualized dividend and a dividend yield of 3.40%. Northern Trust's dividend payout ratio is 30.67%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Wells Fargo & Company reduced their price target on shares of 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. The Goldman Sachs Group lifted their target price on shares of Northern Trust from $92.00 to $102.00 and gave the company a "sell" rating in a research report on Friday, January 24th. Morgan Stanley lowered their price objective on shares of Northern Trust from $136.00 to $132.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 2nd. Royal Bank of Canada raised their price target 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, UBS Group increased 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. One investment 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 MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $112.31.

About Northern Trust

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.