Teacher Retirement System of Texas lifted its stake in shares of Northern Trust Co. (NASDAQ:NTRS - Free Report) by 49.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 359,304 shares of the asset manager's stock after buying an additional 118,544 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.18% of Northern Trust worth $36,829,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in the company. Y.D. More Investments Ltd grew its holdings in Northern Trust by 118.4% during the 4th quarter. Y.D. More Investments Ltd now owns 249 shares of the asset manager's stock worth $26,000 after acquiring an additional 135 shares in the last quarter. Assetmark Inc. raised its holdings in shares of Northern Trust by 528.3% in the 4th quarter. Assetmark Inc. now owns 377 shares of the asset manager's stock valued at $39,000 after purchasing an additional 317 shares in the last quarter. Brooklyn Investment Group lifted its position in shares of Northern Trust by 51.2% during the 4th quarter. Brooklyn Investment Group now owns 378 shares of the asset manager's stock worth $39,000 after purchasing an additional 128 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Northern Trust by 83.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 494 shares of the asset manager's stock worth $51,000 after purchasing an additional 224 shares in the last quarter. Finally, Friedenthal Financial purchased a new position in Northern Trust in the fourth quarter valued at $57,000. 83.19% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of analysts have issued reports on NTRS shares. Keefe, Bruyette & Woods lifted their price target on Northern Trust from $113.00 to $122.00 and gave the stock a "market perform" rating in a report on Friday, January 24th. Morgan Stanley decreased their target price on Northern Trust from $138.00 to $136.00 and set an "equal weight" rating for the company in a research note on Thursday, March 6th. StockNews.com cut shares of Northern Trust from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. UBS Group boosted their price objective on shares of Northern Trust from $110.00 to $114.00 and gave the stock a "neutral" rating in a research report on Monday, January 27th. Finally, Truist Financial increased their target price on shares of Northern Trust from $110.00 to $116.00 and gave the company a "hold" rating in a research report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Northern Trust currently has a consensus rating of "Hold" and an average price target of $112.85.
Check Out Our Latest Stock Report on Northern Trust
Northern Trust Stock Performance
NTRS stock traded up $0.16 during trading on Tuesday, hitting $101.60. The company had a trading volume of 979,115 shares, compared to its average volume of 1,177,691. The firm has a 50-day moving average price of $107.45 and a 200-day moving average price of $102.63. 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 firm has a market cap of $19.88 billion, a PE ratio of 10.39, a price-to-earnings-growth ratio of 1.72 and a beta of 1.07. Northern Trust Co. has a 1-year low of $79.32 and a 1-year 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, beating the consensus estimate of $1.96 by $0.30. Northern Trust had a net margin of 12.77% and a return on equity of 13.74%. On average, analysts expect that Northern Trust Co. will post 8.27 earnings per share for the current year.
Northern Trust Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a $0.75 dividend. The ex-dividend date is Friday, March 14th. This represents a $3.00 dividend on an annualized basis and a yield of 2.95%. Northern Trust's payout ratio is currently 30.67%.
Insider Buying and Selling at Northern Trust
In related news, insider Jason J. Tyler sold 2,237 shares of the firm's stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $112.67, for a total value of $252,042.79. Following the completion of the sale, the insider now owns 58,449 shares in the company, valued at $6,585,448.83. This trade represents a 3.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John Landers sold 900 shares of the company's stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $111.44, for a total transaction of $100,296.00. Following the transaction, the insider now owns 7,640 shares in the company, valued at $851,401.60. The trade was a 10.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,335 shares of company stock valued at $3,970,211. 0.64% of the stock is owned by corporate insiders.
Northern Trust Profile
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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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