Cerity Partners LLC Has $8.11 Million Stake in Northern Trust Co. (NASDAQ:NTRS)

Cerity Partners LLC boosted its holdings in Northern Trust Co. (NASDAQ:NTRS) by 29.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 96,109 shares of the asset manager’s stock after purchasing an additional 21,591 shares during the quarter. Cerity Partners LLC’s holdings in Northern Trust were worth $8,111,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fortitude Family Office LLC acquired a new stake in Northern Trust in the 4th quarter worth about $28,000. Allworth Financial LP raised its position in shares of Northern Trust by 94.1% in the 4th quarter. Allworth Financial LP now owns 359 shares of the asset manager’s stock valued at $30,000 after buying an additional 174 shares in the last quarter. Quent Capital LLC raised its position in shares of Northern Trust by 77.8% in the 4th quarter. Quent Capital LLC now owns 361 shares of the asset manager’s stock valued at $30,000 after buying an additional 158 shares in the last quarter. Belpointe Asset Management LLC raised its position in shares of Northern Trust by 84.5% in the 1st quarter. Belpointe Asset Management LLC now owns 393 shares of the asset manager’s stock valued at $35,000 after buying an additional 180 shares in the last quarter. Finally, Clear Street Markets LLC raised its position in shares of Northern Trust by 93.4% in the 1st quarter. Clear Street Markets LLC now owns 408 shares of the asset manager’s stock valued at $36,000 after buying an additional 197 shares in the last quarter. Institutional investors and hedge funds own 83.19% of the company’s stock.

Insider Transactions at Northern Trust

In other news, insider Steven L. Fradkin sold 30,392 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $80.11, for a total transaction of $2,434,703.12. Following the completion of the sale, the insider now directly owns 55,707 shares in the company, valued at $4,462,687.77. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.64% of the stock is currently owned by corporate insiders.

Northern Trust Trading Down 0.1 %

Shares of NASDAQ NTRS opened at $83.71 on Tuesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.71 and a current ratio of 0.71. Northern Trust Co. has a 52-week low of $62.44 and a 52-week high of $89.25. The firm has a 50 day moving average price of $83.10 and a two-hundred day moving average price of $78.73. The stock has a market cap of $17.08 billion, a P/E ratio of 16.48, a price-to-earnings-growth ratio of 1.73 and a beta of 1.13.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings results on Thursday, January 18th. The asset manager reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.81). Northern Trust had a net margin of 9.14% and a return on equity of 12.44%. The business had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same quarter last year, the company posted $1.65 earnings per share. The company’s revenue was up 1.9% compared to the same quarter last year. As a group, equities analysts forecast that Northern Trust Co. will post 6.57 EPS for the current year.

Northern Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 8th were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 3.58%. The ex-dividend date of this dividend was Thursday, March 7th. Northern Trust’s dividend payout ratio (DPR) is presently 59.06%.

Wall Street Analysts Forecast Growth

NTRS has been the subject of several analyst reports. TheStreet upgraded shares of Northern Trust from a “c+” rating to a “b-” rating in a research report on Friday, January 12th. Morgan Stanley restated an “underweight” rating and issued a $86.00 target price (up from $82.00) on shares of Northern Trust in a research report on Tuesday, January 30th. Barclays boosted their target price on shares of Northern Trust from $90.00 to $98.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 2nd. Wolfe Research cut shares of Northern Trust from a “peer perform” rating to an “underperform” rating and set a $85.00 price objective for the company. in a research report on Wednesday, January 3rd. Finally, Evercore ISI upped their price objective on shares of Northern Trust from $86.00 to $87.00 and gave the stock an “in-line” rating in a research report on Thursday, April 4th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, Northern Trust presently has a consensus rating of “Hold” and an average target price of $83.09.

Northern Trust Company Profile

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.