GAMMA Investing LLC raised its position in shares of Northern Trust Co. (NASDAQ:NTRS – Free Report) by 18.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,268 shares of the asset manager’s stock after purchasing an additional 677 shares during the quarter. GAMMA Investing LLC’s holdings in Northern Trust were worth $437,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the company. Commonwealth Equity Services LLC raised its position in shares of Northern Trust by 3.8% during the second quarter. Commonwealth Equity Services LLC now owns 41,457 shares of the asset manager’s stock valued at $3,482,000 after buying an additional 1,509 shares during the last quarter. Natixis Advisors LLC lifted its stake in Northern Trust by 22.0% in the 2nd quarter. Natixis Advisors LLC now owns 62,119 shares of the asset manager’s stock worth $5,217,000 after purchasing an additional 11,201 shares in the last quarter. TD Asset Management Inc boosted its holdings in shares of Northern Trust by 8.0% during the 2nd quarter. TD Asset Management Inc now owns 77,012 shares of the asset manager’s stock valued at $6,467,000 after purchasing an additional 5,692 shares during the last quarter. National Bank of Canada FI grew its position in shares of Northern Trust by 10.3% during the second quarter. National Bank of Canada FI now owns 117,181 shares of the asset manager’s stock valued at $9,823,000 after purchasing an additional 10,917 shares in the last quarter. Finally, Candriam S.C.A. increased its holdings in shares of Northern Trust by 10.7% in the second quarter. Candriam S.C.A. now owns 24,678 shares of the asset manager’s stock worth $2,072,000 after purchasing an additional 2,381 shares during the last quarter. 83.19% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts have issued reports on the company. UBS Group lifted their price objective on Northern Trust from $86.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 8th. Keefe, Bruyette & Woods upped their price target on shares of Northern Trust from $100.00 to $113.00 and gave the company a “market perform” rating in a research note on Tuesday, December 3rd. Bank of America lifted their price objective on shares of Northern Trust from $103.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Evercore ISI upped their target price on shares of Northern Trust from $86.00 to $103.00 and gave the company an “in-line” rating in a research report on Thursday, October 24th. Finally, Wells Fargo & Company lifted their price target 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. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, Northern Trust has a consensus rating of “Hold” and a consensus target price of $106.64.
Northern Trust Stock Performance
Shares of NASDAQ:NTRS opened at $103.28 on Monday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71. The firm has a market cap of $20.47 billion, a PE ratio of 12.85, a price-to-earnings-growth ratio of 1.18 and a beta of 1.07. The firm’s 50 day simple moving average is $105.59 and its 200-day simple moving average is $94.49. Northern Trust Co. has a one year low of $76.67 and a one year high of $111.87.
Northern Trust Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 1st. Investors of record on Friday, December 6th were issued a $0.75 dividend. The ex-dividend date was Friday, December 6th. This represents a $3.00 annualized dividend and a dividend yield of 2.90%. Northern Trust’s payout ratio is currently 37.31%.
Insider Buying and Selling
In related news, Vice Chairman Steven L. Fradkin sold 27,874 shares of the business’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 of the company’s stock, valued at $4,630,839. The trade was a 37.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Teresa Parker sold 4,439 shares of the firm’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $100.86, for a total transaction of $447,717.54. Following the completion of the sale, the insider now owns 79,326 shares in the company, valued at $8,000,820.36. This represents a 5.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 82,151 shares of company stock valued at $8,489,889 over the last three months. 0.64% of the stock is owned by company insiders.
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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