New York Life Investment Management LLC Raises Stock Holdings in Northern Trust Co. (NASDAQ:NTRS)

New York Life Investment Management LLC boosted its holdings in shares of Northern Trust Co. (NASDAQ:NTRS) by 0.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 32,370 shares of the asset manager’s stock after purchasing an additional 185 shares during the quarter. New York Life Investment Management LLC’s holdings in Northern Trust were worth $2,731,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Fortitude Family Office LLC bought a new stake in shares of Northern Trust in the fourth quarter worth $28,000. Allworth Financial LP increased 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 worth $30,000 after purchasing an additional 174 shares during the last quarter. Quent Capital LLC raised its stake 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 purchasing an additional 158 shares in the last quarter. Friedenthal Financial bought a new position in shares of Northern Trust during the fourth quarter worth about $45,000. Finally, Bruce G. Allen Investments LLC acquired a new position in Northern Trust in the fourth quarter worth about $45,000. 83.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on NTRS. Jefferies Financial Group increased their target price on Northern Trust from $101.00 to $103.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. UBS Group raised their price objective on Northern Trust from $72.00 to $84.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 9th. Royal Bank of Canada boosted their target price on shares of Northern Trust from $82.00 to $86.00 and gave the company an “outperform” rating in a research note on Friday, January 19th. Morgan Stanley reissued an “underweight” rating and set a $86.00 target price (up from $82.00) on shares of Northern Trust in a report on Tuesday, January 30th. Finally, Evercore ISI lifted their price target on shares of Northern Trust from $86.00 to $87.00 and gave the company an “in-line” rating in a report on Thursday, April 4th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $84.92.

Northern Trust Stock Performance

NTRS opened at $84.62 on Monday. 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 business’s 50 day moving average is $83.99 and its 200-day moving average is $80.22. The stock has a market cap of $17.31 billion, a PE ratio of 18.68, a price-to-earnings-growth ratio of 1.21 and a beta of 1.13. Northern Trust Co. has a twelve month low of $62.44 and a twelve month high of $89.25.

Northern Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 3.55%. The ex-dividend date is Friday, June 7th. Northern Trust’s payout ratio is currently 66.23%.

Insiders Place Their Bets

In other news, insider Steven L. Fradkin sold 30,392 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $80.11, for a total transaction of $2,434,703.12. Following the transaction, the insider now directly owns 55,707 shares of the company’s stock, valued at $4,462,687.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Steven L. Fradkin sold 4,097 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $82.56, for a total value of $338,248.32. Following the completion of the transaction, the insider now owns 46,078 shares in the company, valued at approximately $3,804,199.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Steven L. Fradkin sold 30,392 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $80.11, for a total value of $2,434,703.12. Following the sale, the insider now owns 55,707 shares in the company, valued at approximately $4,462,687.77. The disclosure for this sale can be found here. 0.64% of the stock is currently owned by insiders.

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.