GM Advisory Group LLC acquired a new position in shares of Northern Trust Co. (NASDAQ:NTRS - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 2,903 shares of the asset manager's stock, valued at approximately $298,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC grew its position in Northern Trust by 9.3% in the third quarter. FMR LLC now owns 18,187,663 shares of the asset manager's stock worth $1,637,435,000 after acquiring an additional 1,542,685 shares in the last quarter. Primecap Management Co. CA boosted its holdings in shares of Northern Trust by 0.5% in the 3rd quarter. Primecap Management Co. CA now owns 7,085,117 shares of the asset manager's stock worth $637,873,000 after purchasing an additional 38,360 shares during the period. JPMorgan Chase & Co. increased its position in shares of Northern Trust by 9.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,296,442 shares of the asset manager's stock valued at $386,809,000 after purchasing an additional 388,692 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Northern Trust by 1.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,577,091 shares of the asset manager's stock valued at $141,986,000 after buying an additional 16,500 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in Northern Trust by 0.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,267,406 shares of the asset manager's stock worth $129,909,000 after buying an additional 8,102 shares during the last quarter. 83.19% of the stock is currently owned by institutional investors.
NTRS has been the topic of several recent analyst reports. 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 note on Friday, January 24th. StockNews.com downgraded Northern Trust from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Royal Bank of Canada boosted their price objective on Northern Trust from $107.00 to $115.00 and gave the company an "outperform" 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 report on Thursday, March 6th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Northern Trust from $113.00 to $122.00 and gave the stock a "market perform" rating in a research note on Friday, January 24th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $113.50.
Check Out Our Latest Analysis on Northern Trust
Shares of NASDAQ:NTRS opened at $99.27 on Thursday. 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 company has a market capitalization of $19.43 billion, a price-to-earnings ratio of 10.15, a price-to-earnings-growth ratio of 1.72 and a beta of 1.07. The firm has a 50 day moving average of $107.51 and a 200 day moving average of $102.34. 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 analysts' consensus estimates 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, sell-side analysts predict that Northern Trust Co. will post 8.27 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date of this dividend is Friday, March 14th. Northern Trust's payout ratio is currently 30.67%.
In related news, COO Peter Cherecwich sold 26,132 shares of the company's stock in a transaction dated 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 transaction, the chief operating officer now directly owns 26,586 shares of the company's stock, valued at $2,987,202.96. This represents a 49.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Jason J. Tyler sold 2,237 shares of the firm's stock in a transaction dated Thursday, January 30th. The stock was 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 directly owns 58,449 shares of the company's stock, valued at approximately $6,585,448.83. This represents a 3.69 % decrease in their position. 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 90 days. 0.64% of the stock is owned by corporate insiders.
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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