Truist Financial Corp Acquires 744 Shares of Northern Trust Co. (NASDAQ:NTRS)

Truist Financial Corp lifted its holdings in Northern Trust Co. (NASDAQ:NTRS) by 6.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 12,313 shares of the asset manager’s stock after purchasing an additional 744 shares during the period. Truist Financial Corp’s holdings in Northern Trust were worth $1,262,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. CIBC Asset Management Inc increased its stake in shares of Northern Trust by 1.0% in the fourth quarter. CIBC Asset Management Inc now owns 34,954 shares of the asset manager’s stock worth $3,583,000 after purchasing an additional 356 shares during the period. Principal Financial Group Inc. increased its stake in shares of Northern Trust by 0.5% in the fourth quarter. Principal Financial Group Inc. now owns 235,430 shares of the asset manager’s stock worth $24,132,000 after purchasing an additional 1,187 shares during the period. AustralianSuper Pty Ltd increased its stake in shares of Northern Trust by 16.7% in the fourth quarter. AustralianSuper Pty Ltd now owns 91,222 shares of the asset manager’s stock worth $9,350,000 after purchasing an additional 13,081 shares during the period. Quent Capital LLC increased its stake in shares of Northern Trust by 158.7% in the fourth quarter. Quent Capital LLC now owns 934 shares of the asset manager’s stock worth $96,000 after purchasing an additional 573 shares during the period. Finally, Oceanside Advisors LLC increased its stake in shares of Northern Trust by 8.6% in the fourth quarter. Oceanside Advisors LLC now owns 3,803 shares of the asset manager’s stock worth $390,000 after purchasing an additional 300 shares during the period. 83.19% of the stock is currently owned by institutional investors.

Northern Trust Stock Up 1.0 %

NASDAQ NTRS opened at $110.22 on Friday. Northern Trust Co. has a 1-year low of $79.30 and a 1-year high of $114.67. The stock’s 50 day moving average is $108.02 and its two-hundred day moving average is $101.01. The company has a current ratio of 0.68, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $21.85 billion, a price-to-earnings ratio of 11.27, a PEG ratio of 1.72 and a beta of 1.08.

Northern Trust (NASDAQ:NTRS) last posted its earnings results on Thursday, January 23rd. The asset manager reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.96 by $0.30. Northern Trust had a net margin of 12.77% and a return on equity of 13.74%. Equities analysts forecast that Northern Trust Co. will post 8.27 earnings per share for the current fiscal year.

Northern Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date of this dividend is Friday, March 14th. Northern Trust’s dividend payout ratio (DPR) is currently 30.67%.

Insider Activity

In related news, EVP Thomas A. South sold 3,804 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $113.00, for a total value of $429,852.00. Following the completion of the transaction, the executive vice president now owns 81,794 shares in the company, valued at $9,242,722. The trade was a 4.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Peter Cherecwich sold 26,132 shares of the business’s stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $112.36, for a total transaction of $2,936,191.52. Following the completion of the transaction, the chief operating officer now owns 26,586 shares of the company’s stock, valued at $2,987,202.96. This trade represents a 49.57 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,335 shares of company stock worth $3,970,211. Insiders own 0.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on NTRS. Barclays lifted their target price on Northern Trust from $115.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. Wells Fargo & Company lifted their target price on Northern Trust from $108.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Friday, November 15th. Morgan Stanley decreased their target price on Northern Trust from $127.00 to $125.00 and set an “equal weight” rating on the stock in a research report on Friday, January 3rd. The Goldman Sachs Group lifted their target price on Northern Trust from $92.00 to $102.00 and gave the stock a “sell” rating in a research report on Friday, January 24th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Northern Trust from $100.00 to $108.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. One analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $112.58.

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.