Romano Brothers AND Company Grows Position in Northern Trust Co. (NASDAQ:NTRS)

Romano Brothers AND Company grew its position in Northern Trust Co. (NASDAQ:NTRS) by 11.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,450 shares of the asset manager’s stock after acquiring an additional 548 shares during the quarter. Romano Brothers AND Company’s holdings in Northern Trust were worth $485,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Spartan Planning & Wealth Management raised its stake in Northern Trust by 10,566.7% during the fourth quarter. Spartan Planning & Wealth Management now owns 320 shares of the asset manager’s stock valued at $27,000 after purchasing an additional 317 shares in the last quarter. Fortitude Family Office LLC bought a new position in shares of Northern Trust in the 4th quarter valued at about $28,000. Quent Capital LLC grew its position in Northern Trust by 77.8% in the fourth quarter. Quent Capital LLC now owns 361 shares of the asset manager’s stock worth $30,000 after acquiring an additional 158 shares in the last quarter. Allworth Financial LP increased its stake in Northern Trust by 94.1% during the fourth quarter. Allworth Financial LP now owns 359 shares of the asset manager’s stock worth $30,000 after acquiring an additional 174 shares during the last quarter. Finally, Bruce G. Allen Investments LLC purchased a new stake in Northern Trust during the fourth quarter valued at approximately $45,000. 83.19% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

NTRS has been the subject of a number of recent research reports. 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 report on Wednesday, April 17th. Jefferies Financial Group boosted their price objective on shares of Northern Trust from $101.00 to $103.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. Evercore ISI raised their target price on shares of Northern Trust from $86.00 to $87.00 and gave the stock an “in-line” rating in a report on Thursday, April 4th. Finally, Keefe, Bruyette & Woods cut their price target on shares of Northern Trust from $92.00 to $85.00 and set a “market perform” rating on the stock in a report on Thursday. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Northern Trust currently has an average rating of “Hold” and a consensus target price of $85.75.

Insider Activity

In related news, insider Peter Cherecwich sold 12,000 shares of Northern Trust stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $87.09, for a total value of $1,045,080.00. Following the completion of the sale, the insider now directly owns 31,471 shares in the company, valued at approximately $2,740,809.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Northern Trust news, insider Steven L. Fradkin sold 4,097 shares of the business’s 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 sale, the insider now owns 46,078 shares in the company, valued at approximately $3,804,199.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Peter Cherecwich sold 12,000 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $2,740,809.39. The disclosure for this sale can be found here. Corporate insiders own 0.64% of the company’s stock.

Northern Trust Stock Up 1.7 %

NASDAQ:NTRS opened at $83.98 on Friday. The company’s 50-day simple moving average is $83.62 and its 200-day simple moving average is $83.18. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.71. Northern Trust Co. has a fifty-two week low of $62.44 and a fifty-two week high of $89.25. The stock has a market capitalization of $17.18 billion, a P/E ratio of 18.54, a P/E/G ratio of 1.19 and a beta of 1.10.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings data on Tuesday, April 16th. The asset manager reported $1.70 EPS for the quarter, beating the consensus estimate of $1.47 by $0.23. Northern Trust had a return on equity of 12.57% and a net margin of 7.59%. The firm had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.79 billion. On average, equities analysts anticipate that Northern Trust Co. will post 6.88 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 paid 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 3.57%. Northern Trust’s payout ratio is 66.23%.

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.