First Trust Advisors LP Acquires 9,220 Shares of Northern Trust Co. (NASDAQ:NTRS)

First Trust Advisors LP lifted its holdings in shares of Northern Trust Co. (NASDAQ:NTRSFree Report) by 2.5% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 371,618 shares of the asset manager’s stock after purchasing an additional 9,220 shares during the period. First Trust Advisors LP owned 0.18% of Northern Trust worth $31,357,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Fortitude Family Office LLC acquired a new stake in shares of Northern Trust during the fourth quarter worth about $28,000. Quent Capital LLC grew its stake in Northern Trust by 77.8% in the fourth 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. Allworth Financial LP grew its stake in Northern Trust by 94.1% in the fourth quarter. Allworth Financial LP now owns 359 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 174 shares in the last quarter. Covestor Ltd boosted its stake in shares of Northern Trust by 147.5% during the 3rd quarter. Covestor Ltd now owns 604 shares of the asset manager’s stock worth $42,000 after acquiring an additional 360 shares during the period. Finally, Bruce G. Allen Investments LLC bought a new position in shares of Northern Trust during the 4th quarter worth approximately $45,000. Institutional investors own 83.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Bank of America lifted their target price on Northern Trust from $93.00 to $101.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Jefferies Financial Group boosted their price target on Northern Trust from $101.00 to $103.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Finally, Evercore ISI boosted their price target on Northern Trust from $86.00 to $87.00 and gave the company an “in-line” rating in a research note on Thursday, April 4th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $84.92.

Check Out Our Latest Research Report on Northern Trust

Insider Transactions at Northern Trust

In other news, insider Peter Cherecwich sold 12,000 shares of the business’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $87.09, for a total transaction of $1,045,080.00. Following the completion of the transaction, the insider now owns 31,471 shares of the company’s stock, valued at approximately $2,740,809.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Peter Cherecwich sold 12,000 shares of the business’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $87.09, for a total transaction of $1,045,080.00. Following the sale, the insider now owns 31,471 shares in the company, valued at approximately $2,740,809.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Steven L. Fradkin sold 4,097 shares of the business’s 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 sale, the insider now owns 46,078 shares in the company, valued at approximately $3,804,199.68. The disclosure for this sale can be found here. 0.64% of the stock is owned by insiders.

Northern Trust Price Performance

Shares of NASDAQ NTRS opened at $82.29 on Monday. The stock has a market capitalization of $16.84 billion, a PE ratio of 18.17, a P/E/G ratio of 1.17 and a beta of 1.10. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.71. The business has a fifty day moving average price of $84.36 and a two-hundred day moving average price of $82.84. Northern Trust Co. has a fifty-two week low of $62.44 and a fifty-two week high of $89.25.

Northern Trust (NASDAQ:NTRSGet Free Report) last announced its quarterly earnings data on Tuesday, April 16th. The asset manager reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.23. The firm had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.79 billion. Northern Trust had a return on equity of 12.57% and a net margin of 7.59%. As a group, equities analysts predict that Northern Trust Co. will post 6.85 earnings per share for the current fiscal year.

Northern Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 7th will be issued a dividend of $0.75 per share. The ex-dividend date is Friday, June 7th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.65%. Northern Trust’s dividend payout ratio (DPR) is currently 66.23%.

About Northern Trust

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Northern Trust (NASDAQ:NTRS)

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