Los Angeles Capital Management LLC Makes New $1.14 Million Investment in Northern Trust Co. (NASDAQ:NTRS)

Los Angeles Capital Management LLC bought a new position in shares of Northern Trust Co. (NASDAQ:NTRS) during the 4th quarter, HoldingsChannel.com reports. The fund bought 13,448 shares of the asset manager’s stock, valued at approximately $1,135,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. First Trust Direct Indexing L.P. boosted its position in Northern Trust by 7.9% in the fourth quarter. First Trust Direct Indexing L.P. now owns 4,075 shares of the asset manager’s stock worth $344,000 after purchasing an additional 298 shares during the last quarter. New York Life Investment Management LLC boosted its holdings in shares of Northern Trust by 0.6% in the 4th quarter. New York Life Investment Management LLC now owns 32,370 shares of the asset manager’s stock worth $2,731,000 after buying an additional 185 shares during the last quarter. Mission Wealth Management LP grew its position in Northern Trust by 5.9% during the fourth quarter. Mission Wealth Management LP now owns 12,645 shares of the asset manager’s stock valued at $1,067,000 after buying an additional 702 shares during the period. Van ECK Associates Corp increased its holdings in Northern Trust by 6.5% during the fourth quarter. Van ECK Associates Corp now owns 78,080 shares of the asset manager’s stock worth $6,588,000 after buying an additional 4,794 shares during the last quarter. Finally, Choreo LLC bought a new stake in Northern Trust in the fourth quarter worth about $201,000. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Insider Buying and Selling

In other news, insider Steven L. Fradkin sold 4,097 shares of Northern Trust stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $82.56, for a total transaction of $338,248.32. Following the completion of the sale, the insider now owns 46,078 shares in the company, valued at approximately $3,804,199.68. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider Steven L. Fradkin sold 4,097 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were 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 directly owns 46,078 shares in the company, valued at $3,804,199.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 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 owned by company insiders.

Northern Trust Stock Performance

Northern Trust stock opened at $85.62 on Thursday. The firm’s 50 day simple moving average is $84.12 and its 200 day simple moving average is $80.50. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. Northern Trust Co. has a 1-year low of $62.44 and a 1-year high of $89.25. The firm has a market capitalization of $17.52 billion, a PE ratio of 18.90, a price-to-earnings-growth ratio of 1.21 and a beta of 1.13.

Northern Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors 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 3.50%. The ex-dividend date of this dividend is Friday, June 7th. Northern Trust’s dividend payout ratio is 66.23%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on NTRS shares. Evercore ISI increased their target price on shares of Northern Trust from $86.00 to $87.00 and gave the company an “in-line” rating in a research report on Thursday, April 4th. Jefferies Financial Group raised their target price on Northern Trust from $101.00 to $103.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. TheStreet raised Northern Trust from a “c+” rating to a “b-” rating in a research report on Friday, January 12th. Royal Bank of Canada lifted their price objective on Northern Trust from $82.00 to $86.00 and gave the stock an “outperform” rating in a report on Friday, January 19th. Finally, Bank of America upped their price objective on shares of Northern Trust from $93.00 to $101.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Two research 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. According to MarketBeat.com, Northern Trust currently has an average rating of “Hold” and an average price target of $84.92.

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.