Gotham Asset Management LLC Has $338,000 Stock Position in Northern Trust Co. (NASDAQ:NTRS)

Gotham Asset Management LLC lowered its position in shares of Northern Trust Co. (NASDAQ:NTRS) by 4.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,294 shares of the asset manager’s stock after selling 136 shares during the quarter. Gotham Asset Management LLC’s holdings in Northern Trust were worth $338,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new stake in Northern Trust in the 4th quarter valued at about $83,550,000. KBC Group NV increased its position in Northern Trust by 201.6% in the 4th quarter. KBC Group NV now owns 963,811 shares of the asset manager’s stock valued at $98,791,000 after acquiring an additional 644,261 shares in the last quarter. Cerity Partners LLC grew its position in shares of Northern Trust by 451.9% during the 4th quarter. Cerity Partners LLC now owns 555,631 shares of the asset manager’s stock worth $56,866,000 after buying an additional 454,956 shares during the period. ExodusPoint Capital Management LP acquired a new stake in shares of Northern Trust during the 4th quarter worth approximately $42,715,000. Finally, JPMorgan Chase & Co. lifted its holdings in Northern Trust by 9.9% in the third quarter. JPMorgan Chase & Co. now owns 4,296,442 shares of the asset manager’s stock valued at $386,809,000 after buying an additional 388,692 shares during the period. Institutional investors and hedge funds own 83.19% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Bank of America reduced their price objective on shares of Northern Trust from $123.00 to $121.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. StockNews.com cut shares of Northern Trust from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Morgan Stanley reduced their price target on shares of Northern Trust from $136.00 to $132.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 2nd. Citigroup reduced their price target on shares of Northern Trust from $110.00 to $105.00 and set a “neutral” rating on the stock in a research report on Monday, March 24th. Finally, Wells Fargo & Company reduced their price target on shares of Northern Trust from $118.00 to $111.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $110.83.

Northern Trust Stock Performance

Shares of NTRS stock opened at $107.32 on Wednesday. The firm has a 50-day moving average of $95.85 and a 200-day moving average of $103.16. The company has a market cap of $20.88 billion, a P/E ratio of 10.97, a P/E/G ratio of 1.72 and a beta of 1.18. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.68 and a quick ratio of 0.71. Northern Trust Co. has a one year low of $79.68 and a one year high of $114.67.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings data on Tuesday, April 22nd. The asset manager reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.05. Northern Trust had a net margin of 12.77% and a return on equity of 13.74%. The business had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.95 billion. Equities research analysts forecast that Northern Trust Co. will post 8.27 EPS for the current fiscal year.

Northern Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 6th will be paid a $0.75 dividend. The ex-dividend date is Friday, June 6th. This represents a $3.00 dividend on an annualized basis and a yield of 2.80%. Northern Trust’s dividend payout ratio is presently 27.99%.

Insiders Place Their Bets

In related news, EVP Clive Bellows sold 3,300 shares of the stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $99.95, for a total value of $329,835.00. Following the completion of the transaction, the executive vice president now directly owns 28,736 shares in the company, valued at $2,872,163.20. This trade represents a 10.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Teresa Parker sold 6,467 shares of the stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $100.62, for a total transaction of $650,709.54. Following the completion of the transaction, the insider now owns 79,391 shares of the company’s stock, valued at approximately $7,988,322.42. The trade was a 7.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.77% of the company’s stock.

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.