Victory Capital Management Inc. Grows Stake in Northern Trust Co. (NASDAQ:NTRS)

Victory Capital Management Inc. grew its holdings in shares of Northern Trust Co. (NASDAQ:NTRS - Free Report) by 2.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 414,425 shares of the asset manager's stock after acquiring an additional 10,435 shares during the period. Victory Capital Management Inc. owned 0.21% of Northern Trust worth $42,479,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of 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 during the period. Brooklyn Investment Group grew its holdings in 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 acquiring an additional 128 shares during the period. Capital Performance Advisors LLP acquired a new stake in Northern Trust during the 3rd quarter worth about $48,000. Friedenthal Financial acquired a new stake in Northern Trust during the 4th quarter worth about $57,000. Finally, Steward Partners Investment Advisory LLC grew its holdings in Northern Trust by 29.8% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 597 shares of the asset manager's stock worth $61,000 after acquiring an additional 137 shares during the period. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Northern Trust

In related news, EVP Jane Karpinski sold 2,262 shares of Northern Trust 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 directly owns 17,236 shares in the company, valued at approximately $1,918,883.88. The trade was a 11.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jason J. Tyler sold 2,237 shares of Northern Trust stock in a transaction that occurred 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 owns 58,449 shares of the company's stock, 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. Insiders sold a total of 35,335 shares of company stock worth $3,970,211 in the last quarter. Insiders own 0.64% of the company's stock.

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Analyst Upgrades and Downgrades

Several brokerages have recently commented on NTRS. Truist Financial raised their target price on Northern Trust from $110.00 to $116.00 and gave the company a "hold" rating in a research note on Friday, January 24th. Royal Bank of Canada raised their target price on Northern Trust from $107.00 to $115.00 and gave the company an "outperform" rating in a research note on Friday, January 24th. Keefe, Bruyette & Woods raised their target price on Northern Trust from $113.00 to $122.00 and gave the company a "market perform" rating in a research note on Friday, January 24th. UBS Group raised their target price on Northern Trust from $110.00 to $114.00 and gave the company a "neutral" rating in a research note on Monday, January 27th. Finally, StockNews.com downgraded Northern Trust from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, Northern Trust currently has a consensus rating of "Hold" and an average target price of $113.50.

Northern Trust Stock Performance

Shares of Northern Trust stock traded up $0.49 during mid-day trading on Friday, hitting $104.32. 1,294,515 shares of the stock were exchanged, compared to its average volume of 1,244,378. Northern Trust Co. has a 12 month low of $79.30 and a 12 month high of $114.67. The company has a 50-day simple moving average of $108.20 and a 200 day simple moving average of $101.80. 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 company has a market capitalization of $20.42 billion, a P/E ratio of 10.67, a P/E/G ratio of 1.72 and a beta of 1.07.

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

Northern Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $3.00 annualized dividend and a dividend yield of 2.88%. Northern Trust's payout ratio is currently 30.67%.

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.