Simplicity Wealth LLC purchased a new stake in shares of Northern Trust Co. (NASDAQ:NTRS - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,077 shares of the asset manager's stock, valued at approximately $315,000.
Other hedge funds have also recently bought and sold shares of the company. Ballentine Partners LLC lifted its position in shares of Northern Trust by 4.4% in the fourth quarter. Ballentine Partners LLC now owns 2,483 shares of the asset manager's stock worth $255,000 after buying an additional 105 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Northern Trust by 24.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,061 shares of the asset manager's stock worth $2,286,000 after acquiring an additional 4,374 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Northern Trust by 9.9% in 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 last quarter. Kovitz Investment Group Partners LLC lifted its stake in shares of Northern Trust by 68.1% during the third quarter. Kovitz Investment Group Partners LLC now owns 13,765 shares of the asset manager's stock valued at $1,239,000 after acquiring an additional 5,578 shares during the period. Finally, Caprock Group LLC acquired a new stake in shares of Northern Trust during the 4th quarter worth approximately $1,059,000. 83.19% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In related news, EVP Thomas A. South sold 3,804 shares of the business's stock in a transaction on Wednesday, February 19th. The shares were 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 directly owns 81,794 shares in the company, valued at $9,242,722. The trade was a 4.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Peter Cherecwich sold 26,132 shares of the stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $112.36, for a total value of $2,936,191.52. Following 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 position. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,335 shares of company stock worth $3,970,211. 0.64% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
NTRS has been the subject of several research analyst reports. UBS Group boosted their price target on shares of Northern Trust from $110.00 to $114.00 and gave the company a "neutral" rating in a report on Monday, January 27th. Wells Fargo & Company upped their price objective on Northern Trust from $108.00 to $110.00 and gave the company an "equal weight" rating in a research note on Friday, November 15th. Royal Bank of Canada upped their price target on shares of Northern Trust from $107.00 to $115.00 and gave the company an "outperform" rating in a research note on Friday, January 24th. The Goldman Sachs Group increased their price target on shares of Northern Trust from $92.00 to $102.00 and gave the stock a "sell" rating in a research report on Friday, January 24th. Finally, Morgan Stanley lowered their target price on Northern Trust from $138.00 to $136.00 and set an "equal weight" rating for the company in a report on Thursday, March 6th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $113.50.
View Our Latest Research Report on Northern Trust
Northern Trust Stock Performance
Northern Trust stock traded up $1.79 during midday trading on Friday, hitting $97.88. The stock had a trading volume of 999,589 shares, compared to its average volume of 1,259,442. The company has a market capitalization of $19.15 billion, a PE ratio of 10.01, a P/E/G ratio of 1.72 and a beta of 1.07. The company has a current ratio of 0.68, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The firm's fifty day moving average is $107.85 and its two-hundred day moving average is $102.00. Northern Trust Co. has a 52-week low of $79.32 and a 52-week high of $114.67.
Northern Trust (NASDAQ:NTRS - Get Free Report) last issued its quarterly earnings data on Thursday, January 23rd. The asset manager reported $2.26 earnings per share 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%. On average, research analysts forecast that Northern Trust Co. will post 8.27 EPS for the current year.
Northern Trust Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders 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 dividend yield of 3.06%. Northern Trust's dividend payout ratio is currently 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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