CX Institutional Invests $96,000 in Northern Trust Co. (NASDAQ:NTRS)

CX Institutional bought a new position in Northern Trust Co. (NASDAQ:NTRS) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 969 shares of the asset manager’s stock, valued at approximately $96,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NTRS. Colonial Trust Co SC boosted its position in shares of Northern Trust by 6,400.0% during the 4th quarter. Colonial Trust Co SC now owns 260 shares of the asset manager’s stock valued at $27,000 after acquiring an additional 256 shares during the last quarter. Assetmark Inc. raised its stake in Northern Trust by 528.3% during the fourth quarter. Assetmark Inc. now owns 377 shares of the asset manager’s stock valued at $39,000 after purchasing an additional 317 shares in the last quarter. Coppell Advisory Solutions LLC bought a new position in Northern Trust during the fourth quarter valued at $44,000. True Wealth Design LLC grew its stake in shares of Northern Trust by 84.0% in the 4th quarter. True Wealth Design LLC now owns 425 shares of the asset manager’s stock worth $44,000 after buying an additional 194 shares in the last quarter. Finally, Proficio Capital Partners LLC bought a new stake in shares of Northern Trust in the 4th quarter worth about $51,000. 83.19% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NTRS. Bank of America dropped their price target on Northern Trust from $123.00 to $121.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. Citigroup cut their target price on Northern Trust from $110.00 to $105.00 and set a “neutral” rating on the stock in a research report on Monday, March 24th. Royal Bank of Canada lowered their price target on Northern Trust from $115.00 to $105.00 and set an “outperform” rating for the company in a research report on Wednesday, April 23rd. Wall Street Zen lowered shares of Northern Trust from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Finally, Evercore ISI reduced their target price on shares of Northern Trust from $104.00 to $100.00 and set an “in-line” rating on the stock in a research note on Wednesday, April 23rd. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $108.42.

Northern Trust Trading Up 2.9%

Shares of NTRS opened at $110.91 on Tuesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.68 and a quick ratio of 0.71. The firm has a market capitalization of $21.58 billion, a price-to-earnings ratio of 11.34, a PEG ratio of 1.72 and a beta of 1.22. The company has a 50-day moving average of $100.27 and a 200 day moving average of $103.13. Northern Trust Co. has a 1-year low of $80.45 and a 1-year high of $114.67.

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

Northern Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 6th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 2.70%. The ex-dividend date is Friday, June 6th. Northern Trust’s dividend payout ratio is 27.99%.

Insider Transactions at Northern Trust

In other news, insider Teresa Parker sold 6,467 shares of the business’s stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $100.62, for a total value of $650,709.54. Following the completion of the sale, the insider now owns 79,391 shares in the company, valued at approximately $7,988,322.42. The trade was a 7.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Clive Bellows sold 3,300 shares of the stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $99.95, for a total transaction of $329,835.00. Following the transaction, the executive vice president now owns 28,736 shares in the company, valued at approximately $2,872,163.20. This represents a 10.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,772 shares of company stock valued at $981,069. 0.77% of the stock is currently owned by corporate 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.