Nordea Investment Management AB boosted its holdings in shares of Northern Trust Co. (NASDAQ:NTRS – Free Report) by 6.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,345 shares of the asset manager’s stock after buying an additional 954 shares during the period. Nordea Investment Management AB’s holdings in Northern Trust were worth $1,576,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently added to or reduced their stakes in NTRS. FMR LLC increased its position in Northern Trust by 9.3% during the 3rd quarter. FMR LLC now owns 18,187,663 shares of the asset manager’s stock valued at $1,637,435,000 after buying an additional 1,542,685 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in Northern Trust by 13.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,413,620 shares of the asset manager’s stock valued at $622,596,000 after buying an additional 850,556 shares in the last quarter. JPMorgan Chase & Co. increased its position in Northern Trust by 9.9% during the 3rd 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 in the last quarter. Primecap Management Co. CA increased its position in Northern Trust by 3.9% during the 2nd quarter. Primecap Management Co. CA now owns 7,046,757 shares of the asset manager’s stock valued at $591,787,000 after buying an additional 261,285 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Northern Trust by 12.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,003,675 shares of the asset manager’s stock valued at $168,253,000 after buying an additional 219,387 shares in the last quarter. 83.19% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research analysts have recently weighed in on the company. Royal Bank of Canada increased their price objective on Northern Trust from $100.00 to $107.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. StockNews.com raised Northern Trust from a “hold” rating to a “buy” rating in a report on Tuesday, December 10th. UBS Group increased their price objective on Northern Trust from $86.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, October 8th. Evercore ISI increased their price objective on Northern Trust from $86.00 to $103.00 and gave the company an “in-line” rating in a report on Thursday, October 24th. Finally, The Goldman Sachs Group lowered Northern Trust from a “neutral” rating to a “sell” rating and cut their price objective for the company from $84.00 to $82.00 in a report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Northern Trust currently has a consensus rating of “Hold” and an average price target of $107.17.
Insiders Place Their Bets
In other news, COO Peter Cherecwich sold 16,153 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $105.18, for a total value of $1,698,972.54. Following the transaction, the chief operating officer now owns 4,397 shares in the company, valued at $462,476.46. This trade represents a 78.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Vice Chairman Steven L. Fradkin sold 27,874 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $100.50, for a total value of $2,801,337.00. Following the completion of the transaction, the insider now owns 46,078 shares in the company, valued at approximately $4,630,839. This trade represents a 37.69 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 82,151 shares of company stock worth $8,489,889. 0.64% of the stock is owned by corporate insiders.
Northern Trust Stock Performance
Shares of NTRS stock opened at $99.46 on Friday. The company has a market capitalization of $19.71 billion, a P/E ratio of 12.37, a P/E/G ratio of 1.18 and a beta of 1.08. The business’s 50 day moving average is $105.67 and its two-hundred day moving average is $95.08. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. Northern Trust Co. has a 12-month low of $76.67 and a 12-month high of $111.87.
Northern Trust Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 1st. Shareholders of record on Friday, December 6th were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $3.00 dividend on an annualized basis and a yield of 3.02%. Northern Trust’s dividend payout ratio is currently 37.31%.
Northern Trust 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.
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