Tredje AP fonden reduced its position in shares of Northern Trust Co. (NASDAQ:NTRS - Free Report) by 50.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,276 shares of the asset manager's stock after selling 16,275 shares during the period. Tredje AP fonden's holdings in Northern Trust were worth $1,668,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Y.D. More Investments Ltd increased its position in shares of Northern Trust by 118.4% during the fourth quarter. Y.D. More Investments Ltd now owns 249 shares of the asset manager's stock valued at $26,000 after acquiring an additional 135 shares during the last quarter. Assetmark Inc. increased its position in shares of Northern Trust by 528.3% during the fourth quarter. Assetmark Inc. now owns 377 shares of the asset manager's stock valued at $39,000 after acquiring an additional 317 shares during the last quarter. Brooklyn Investment Group increased its position in shares of Northern Trust by 51.2% during the fourth quarter. Brooklyn Investment Group now owns 378 shares of the asset manager's stock valued at $39,000 after acquiring an additional 128 shares during the last quarter. EverSource Wealth Advisors LLC increased its position 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 valued at $51,000 after acquiring an additional 224 shares during the last quarter. Finally, Friedenthal Financial acquired a new stake in shares of Northern Trust during the fourth quarter valued at about $57,000. 83.19% of the stock is currently owned by institutional investors and hedge funds.
Northern Trust Stock Performance
Shares of Northern Trust stock traded up $0.99 during trading on Wednesday, reaching $99.27. The company's stock had a trading volume of 1,201,016 shares, compared to its average volume of 1,171,604. The company has a 50-day moving average price of $107.56 and a two-hundred day moving average price of $102.37. The firm has a market cap of $19.43 billion, a PE ratio of 10.15, a P/E/G ratio of 1.72 and a beta of 1.07. Northern Trust Co. has a fifty-two week low of $79.32 and a fifty-two week high of $114.67. The company has a current ratio of 0.68, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58.
Northern Trust (NASDAQ:NTRS - Get Free Report) last announced its earnings results on Thursday, January 23rd. The asset manager reported $2.26 EPS for the quarter, beating analysts' consensus estimates 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 forecast that Northern Trust Co. will post 8.27 EPS for the current year.
Northern Trust Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a $0.75 dividend. The ex-dividend date is Friday, March 14th. This represents a $3.00 annualized dividend and a yield of 3.02%. Northern Trust's dividend payout ratio is currently 30.67%.
Insider Buying and Selling at Northern Trust
In other Northern Trust news, COO Peter Cherecwich sold 26,132 shares of the business's stock in a transaction 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 directly owns 26,586 shares of the company's stock, valued at approximately $2,987,202.96. The trade was a 49.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jason J. Tyler sold 2,237 shares of the business's stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $112.67, for a total transaction of $252,042.79. Following the completion of the transaction, the insider now directly owns 58,449 shares in the company, valued at $6,585,448.83. This represents a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,335 shares of company stock valued at $3,970,211. 0.64% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
NTRS has been the subject of a number of research reports. Truist Financial lifted their price objective on shares of Northern Trust from $110.00 to $116.00 and gave the company a "hold" rating in a report on Friday, January 24th. StockNews.com cut shares of Northern Trust from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Keefe, Bruyette & Woods lifted their price objective on shares of Northern Trust from $113.00 to $122.00 and gave the company a "market perform" rating in a report on Friday, January 24th. The Goldman Sachs Group lifted their price objective on shares of Northern Trust from $92.00 to $102.00 and gave the company a "sell" rating in a report on Friday, January 24th. Finally, Barclays lifted their price objective on shares of Northern Trust from $115.00 to $118.00 and gave the company an "equal weight" rating in a report on Monday, January 6th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $113.50.
Check Out Our Latest Stock Report on NTRS
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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