Raymond James Financial Inc. Takes Position in Northern Trust Co. (NASDAQ:NTRS)

Raymond James Financial Inc. purchased a new stake in Northern Trust Co. (NASDAQ:NTRS) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 72,740 shares of the asset manager’s stock, valued at approximately $7,456,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ballentine Partners LLC grew its holdings in shares of Northern Trust by 4.4% in the 4th quarter. Ballentine Partners LLC now owns 2,483 shares of the asset manager’s stock valued at $255,000 after buying an additional 105 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Northern Trust by 24.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,061 shares of the asset manager’s stock valued at $2,286,000 after buying an additional 4,374 shares during the period. JPMorgan Chase & Co. lifted its position in Northern Trust by 9.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,296,442 shares of the asset manager’s stock valued at $386,809,000 after acquiring an additional 388,692 shares in the last quarter. Kovitz Investment Group Partners LLC lifted its position in Northern Trust by 68.1% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 13,765 shares of the asset manager’s stock valued at $1,239,000 after acquiring an additional 5,578 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Northern Trust by 0.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,267,406 shares of the asset manager’s stock valued at $129,909,000 after acquiring an additional 8,102 shares in the last quarter. Institutional investors and hedge funds own 83.19% of the company’s stock.

Insider Transactions at Northern Trust

In related news, insider Jason J. Tyler sold 2,237 shares of the company’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $112.67, for a total value of $252,042.79. Following the transaction, the insider now owns 58,449 shares in the company, valued at approximately $6,585,448.83. This represents a 3.69 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Landers sold 900 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $111.44, for a total transaction of $100,296.00. Following the completion of the transaction, the insider now owns 7,640 shares in the company, valued at approximately $851,401.60. This trade represents a 10.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,335 shares of company stock worth $3,970,211 in the last ninety days. Insiders own 0.64% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on NTRS shares. The Goldman Sachs Group boosted their price objective on shares of Northern Trust from $92.00 to $102.00 and gave the company a “sell” rating in a research report on Friday, January 24th. StockNews.com cut shares of Northern Trust from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. UBS Group boosted their price objective on shares of Northern Trust from $110.00 to $114.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. Truist Financial boosted their price objective on shares of Northern Trust from $110.00 to $116.00 and gave the company a “hold” rating in a research report on Friday, January 24th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Northern Trust from $113.00 to $122.00 and gave the company a “market perform” rating in a research report on Friday, January 24th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $113.50.

Northern Trust Trading Down 0.1 %

Shares of NASDAQ:NTRS opened at $98.77 on Monday. The stock has a market capitalization of $19.33 billion, a PE ratio of 10.10, a price-to-earnings-growth ratio of 1.72 and a beta of 1.07. The company’s 50-day moving average price is $107.42 and its two-hundred day moving average price is $102.55. Northern Trust Co. has a one year low of $79.32 and a one year high of $114.67. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.68 and a quick ratio of 0.71.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings data on Thursday, January 23rd. The asset manager reported $2.26 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.30. Northern Trust had a net margin of 12.77% and a return on equity of 13.74%. On average, equities analysts forecast that Northern Trust Co. will post 8.27 EPS for the current fiscal year.

Northern Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.75 per share. The ex-dividend date is Friday, March 14th. This represents a $3.00 annualized dividend and a dividend yield of 3.04%. Northern Trust’s dividend payout ratio is presently 30.67%.

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.