Assetmark Inc. Acquires 317 Shares of Northern Trust Co. (NASDAQ:NTRS)

Assetmark Inc. lifted its stake in Northern Trust Co. (NASDAQ:NTRS) by 528.3% during the 4th quarter, Holdings Channel reports. The firm owned 377 shares of the asset manager’s stock after acquiring an additional 317 shares during the period. Assetmark Inc.’s holdings in Northern Trust were worth $39,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Y.D. More Investments Ltd boosted its holdings in Northern Trust by 118.4% during the fourth quarter. Y.D. More Investments Ltd now owns 249 shares of the asset manager’s stock worth $26,000 after buying an additional 135 shares during the last quarter. Empirical Asset Management LLC bought a new position in shares of Northern Trust during the fourth quarter worth $33,000. Brooklyn Investment Group boosted its position in shares of Northern Trust by 51.2% during the fourth quarter. Brooklyn Investment Group now owns 378 shares of the asset manager’s stock worth $39,000 after purchasing an additional 128 shares in the last quarter. Proficio Capital Partners LLC bought a new position in shares of Northern Trust during the fourth quarter worth $51,000. Finally, Friedenthal Financial bought a new position in shares of Northern Trust during the fourth quarter worth $57,000. 83.19% of the stock is currently owned by institutional investors.

Insider Transactions at Northern Trust

In related news, EVP Jane Karpinski sold 2,262 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $111.33, for a total value of $251,828.46. Following the transaction, the executive vice president now owns 17,236 shares in the company, valued at approximately $1,918,883.88. This trade represents a 11.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jason J. Tyler sold 2,237 shares of the firm’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $112.67, for a total value of $252,042.79. Following the completion of the transaction, the insider now owns 58,449 shares in the company, valued at $6,585,448.83. The trade was a 3.69 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 35,335 shares of company stock valued at $3,970,211. 0.64% of the stock is currently owned by company insiders.

Northern Trust Stock Up 1.9 %

NTRS opened at $97.88 on Friday. The stock has a market cap of $19.15 billion, a PE ratio of 10.01, a price-to-earnings-growth ratio of 1.72 and a beta of 1.07. The stock’s fifty day simple moving average is $107.74 and its 200 day simple moving average is $102.16. Northern Trust Co. has a 1-year low of $79.32 and a 1-year high of $114.67. The company has a current ratio of 0.68, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58.

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

Northern Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $3.00 annualized dividend and a dividend yield of 3.06%. Northern Trust’s dividend payout ratio is presently 30.67%.

Analysts Set New Price Targets

NTRS has been the topic of several recent analyst reports. Royal Bank of Canada lifted their price objective on Northern Trust from $107.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, January 24th. Barclays boosted their price target on Northern Trust from $115.00 to $118.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Truist Financial boosted their target price on Northern Trust from $110.00 to $116.00 and gave the company a “hold” rating in a research note on Friday, January 24th. UBS Group boosted their price objective on shares of Northern Trust from $110.00 to $114.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. Finally, StockNews.com lowered shares of Northern Trust from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. 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 stock. Based on data from MarketBeat.com, Northern Trust presently has a consensus rating of “Hold” and an average price target of $113.50.

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.