GAMMA Investing LLC Invests $104,000 in Northern Trust Co. (NASDAQ:NTRS)

GAMMA Investing LLC purchased a new position in Northern Trust Co. (NASDAQ:NTRS) in the fourth quarter, Holdings Channel.com reports. The firm purchased 1,302 shares of the asset manager’s stock, valued at approximately $104,000.

Other large investors also recently added to or reduced their stakes in the company. Fortitude Family Office LLC bought a new stake in Northern Trust during the fourth quarter valued at approximately $28,000. Allworth Financial LP grew its position in Northern Trust by 94.1% during the fourth quarter. Allworth Financial LP now owns 359 shares of the asset manager’s stock valued at $30,000 after buying an additional 174 shares during the period. Quent Capital LLC grew its position in Northern Trust by 77.8% during the fourth quarter. Quent Capital LLC now owns 361 shares of the asset manager’s stock valued at $30,000 after buying an additional 158 shares during the period. Friedenthal Financial bought a new stake in Northern Trust during the fourth quarter valued at approximately $45,000. Finally, Bruce G. Allen Investments LLC bought a new stake in Northern Trust during the fourth quarter valued at approximately $45,000. 83.19% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

NTRS has been the subject of several recent research reports. Jefferies Financial Group boosted their target price on shares of Northern Trust from $101.00 to $103.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. TheStreet raised shares of Northern Trust from a “c+” rating to a “b-” rating in a report on Friday, January 12th. Morgan Stanley reaffirmed an “underweight” rating and set a $86.00 price target (up previously from $82.00) on shares of Northern Trust in a report on Tuesday, January 30th. Wolfe Research downgraded shares of Northern Trust from a “peer perform” rating to an “underperform” rating and set a $85.00 price target on the stock. in a report on Wednesday, January 3rd. Finally, Royal Bank of Canada lifted their price target on shares of Northern Trust from $82.00 to $86.00 and gave the company an “outperform” rating in a report on Friday, January 19th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $84.92.

Insider Activity

In related news, insider Steven L. Fradkin sold 30,392 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $80.11, for a total value of $2,434,703.12. Following the transaction, the insider now owns 55,707 shares of the company’s stock, valued at approximately $4,462,687.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.64% of the company’s stock.

Northern Trust Trading Down 0.1 %

Shares of NTRS opened at $83.38 on Monday. Northern Trust Co. has a twelve month low of $62.44 and a twelve month high of $89.25. The company has a market cap of $17.06 billion, a P/E ratio of 18.41, a P/E/G ratio of 1.20 and a beta of 1.13. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. The company’s fifty day simple moving average is $83.67 and its 200-day simple moving average is $79.68.

Northern Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 7th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 3.60%. The ex-dividend date of this dividend is Friday, June 7th. Northern Trust’s dividend payout ratio is currently 66.23%.

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.