Sterling Capital Management LLC grew its position in Northern Trust Co. (NASDAQ:NTRS - Free Report) by 94.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,873 shares of the asset manager's stock after purchasing an additional 7,240 shares during the period. Sterling Capital Management LLC's holdings in Northern Trust were worth $1,524,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of the company. Heritage Trust Co acquired a new position in Northern Trust during the fourth quarter worth $394,000. Oak Associates Ltd. OH bought a new stake in Northern Trust during the 4th quarter worth about $1,633,000. Covestor Ltd boosted its stake in shares of Northern Trust by 222.5% during the 4th quarter. Covestor Ltd now owns 1,448 shares of the asset manager's stock worth $148,000 after buying an additional 999 shares during the last quarter. Capital Fund Management S.A. bought a new position in shares of Northern Trust in the 4th quarter valued at about $5,367,000. Finally, Bessemer Group Inc. increased its position in shares of Northern Trust by 0.9% in the fourth quarter. Bessemer Group Inc. now owns 55,596 shares of the asset manager's stock valued at $5,699,000 after acquiring an additional 522 shares during the last quarter. Institutional investors and hedge funds own 83.19% of the company's stock.
Northern Trust Stock Performance
NASDAQ:NTRS traded up $0.86 during mid-day trading on Friday, reaching $88.29. 1,463,261 shares of the company's stock were exchanged, compared to its average volume of 1,254,028. 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 has a market capitalization of $17.28 billion, a PE ratio of 9.03, a price-to-earnings-growth ratio of 1.72 and a beta of 1.10. Northern Trust Co. has a one year low of $79.68 and a one year high of $114.67. The business's fifty day simple moving average is $100.36 and its two-hundred day simple moving average is $102.72.
Northern Trust (NASDAQ:NTRS - Get Free Report) last issued its quarterly earnings results on Thursday, January 23rd. The asset manager reported $2.26 earnings per share (EPS) 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%. Analysts anticipate that Northern Trust Co. will post 8.27 earnings per share for the current fiscal year.
Northern Trust Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were given a dividend of $0.75 per share. The ex-dividend date of this dividend 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 currently 30.67%.
Insider Activity at Northern Trust
In related news, EVP Jane Karpinski sold 2,262 shares of the firm's stock in a transaction that occurred 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 $1,918,883.88. This trade represents a 11.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 sale, the chief operating officer now directly owns 26,586 shares in the company, valued at $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. Insiders have sold 35,335 shares of company stock valued at $3,970,211 over the last ninety days. 0.77% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
NTRS has been the subject of a number of analyst reports. Evercore ISI decreased their price target on Northern Trust from $113.00 to $104.00 and set an "in-line" rating for the company in a research note on Tuesday, April 1st. UBS Group increased their price target on shares of Northern Trust from $110.00 to $114.00 and gave the company a "neutral" rating in a research note on Monday, January 27th. Bank of America decreased their price objective on shares of Northern Trust from $123.00 to $121.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. Royal Bank of Canada upped their target price on shares of Northern Trust from $107.00 to $115.00 and gave the company an "outperform" rating in a report on Friday, January 24th. Finally, Citigroup lowered their price target on Northern Trust from $110.00 to $105.00 and set a "neutral" rating on the stock in a research report on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $112.31.
Check Out Our Latest Stock Analysis on Northern Trust
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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