Wellington Management Group LLP Buys 3,387,002 Shares of Northern Trust Co. (NASDAQ:NTRS)

Wellington Management Group LLP raised its stake in shares of Northern Trust Co. (NASDAQ:NTRS) by 140.2% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 5,802,792 shares of the asset manager’s stock after purchasing an additional 3,387,002 shares during the period. Wellington Management Group LLP owned 2.83% of Northern Trust worth $489,640,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of NTRS. Ballast Inc. grew its stake in shares of Northern Trust by 1.1% during the fourth quarter. Ballast Inc. now owns 12,208 shares of the asset manager’s stock valued at $1,030,000 after buying an additional 136 shares during the last quarter. Mather Group LLC. grew its stake in Northern Trust by 3.6% in the fourth quarter. Mather Group LLC. now owns 4,271 shares of the asset manager’s stock worth $360,000 after purchasing an additional 147 shares in the last quarter. Aviance Capital Partners LLC grew its stake in Northern Trust by 1.8% in the fourth quarter. Aviance Capital Partners LLC now owns 8,585 shares of the asset manager’s stock worth $724,000 after purchasing an additional 150 shares in the last quarter. Diversified Trust Co grew its stake in Northern Trust by 1.9% in the fourth quarter. Diversified Trust Co now owns 8,531 shares of the asset manager’s stock worth $720,000 after purchasing an additional 156 shares in the last quarter. Finally, Quent Capital LLC grew its stake 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 purchasing an additional 158 shares in the last quarter. Institutional investors own 83.19% of the company’s stock.

Insider Activity

In related news, insider Peter Cherecwich sold 12,000 shares of Northern Trust stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $87.09, for a total value 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Steven L. Fradkin sold 4,097 shares of Northern Trust stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $82.56, for a total value of $338,248.32. Following the completion of the transaction, the insider now owns 46,078 shares in the company, valued at approximately $3,804,199.68. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Peter Cherecwich sold 12,000 shares of Northern Trust stock in a transaction dated 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 transaction, the insider now owns 31,471 shares of the company’s stock, valued at approximately $2,740,809.39. The disclosure for this sale can be found here. Insiders own 0.64% of the company’s stock.

Northern Trust Stock Performance

Shares of NTRS stock opened at $81.65 on Monday. The firm has a market capitalization of $16.70 billion, a price-to-earnings ratio of 18.02, a price-to-earnings-growth ratio of 1.16 and a beta of 1.10. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.71. The business has a fifty day moving average of $83.82 and a 200 day moving average of $83.03. Northern Trust Co. has a 1 year low of $62.44 and a 1 year high of $89.25.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings results on Tuesday, April 16th. The asset manager reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.23. The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.79 billion. Northern Trust had a return on equity of 12.57% and a net margin of 7.59%. As a group, research analysts expect that Northern Trust Co. will post 6.85 earnings per share for the current year.

Northern Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 3.67%. The ex-dividend date is Friday, June 7th. Northern Trust’s dividend payout ratio is currently 66.23%.

Analyst Ratings Changes

Several brokerages recently issued reports on NTRS. Evercore ISI increased their price objective on Northern Trust from $86.00 to $87.00 and gave the stock an “in-line” rating in a research note on Thursday, April 4th. Jefferies Financial Group increased their target price on Northern Trust from $101.00 to $103.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. Finally, Bank of America increased their target price on Northern Trust from $93.00 to $101.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Northern Trust has an average rating of “Hold” and a consensus target price of $85.82.

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.