Brooklyn Investment Group Grows Position in Northern Trust Co. (NASDAQ:NTRS)

Brooklyn Investment Group boosted its holdings in Northern Trust Co. (NASDAQ:NTRS) by 51.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 378 shares of the asset manager’s stock after buying an additional 128 shares during the quarter. Brooklyn Investment Group’s holdings in Northern Trust were worth $39,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Merit Financial Group LLC bought a new position in Northern Trust during the fourth quarter valued at approximately $289,000. Wedge Capital Management L L P NC bought a new position in shares of Northern Trust during the 4th quarter valued at $2,072,000. Avanza Fonder AB purchased a new position in shares of Northern Trust in the 4th quarter worth $1,597,000. Empirical Asset Management LLC bought a new stake in shares of Northern Trust in the fourth quarter worth $33,000. Finally, Ritholtz Wealth Management increased its position in Northern Trust by 72.5% during the fourth quarter. Ritholtz Wealth Management now owns 9,348 shares of the asset manager’s stock valued at $958,000 after acquiring an additional 3,928 shares during the last quarter. Institutional investors own 83.19% of the company’s stock.

Insiders Place Their Bets

In other news, Vice Chairman Steven L. Fradkin sold 27,874 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $100.50, for a total transaction of $2,801,337.00. Following the completion of the transaction, the insider now directly owns 46,078 shares in the company, valued at approximately $4,630,839. This represents a 37.69 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Peter Cherecwich sold 16,153 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $105.18, for a total transaction of $1,698,972.54. Following the completion of the transaction, the chief operating officer now directly owns 4,397 shares of the company’s stock, valued at approximately $462,476.46. This trade represents a 78.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 82,151 shares of company stock worth $8,489,889 in the last 90 days. 0.64% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Bank of America boosted their price target on Northern Trust from $103.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Keefe, Bruyette & Woods upped their target price on shares of Northern Trust from $100.00 to $113.00 and gave the company a “market perform” rating in a report on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Northern Trust from $100.00 to $108.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. The Goldman Sachs Group lowered Northern Trust from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $84.00 to $82.00 in a research note on Thursday, September 26th. Finally, Wells Fargo & Company lifted their target price on Northern Trust from $108.00 to $110.00 and gave the company an “equal weight” rating in a research report on Friday, November 15th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $107.17.

Northern Trust Trading Up 0.4 %

Shares of NTRS opened at $106.87 on Monday. The firm has a market cap of $21.18 billion, a P/E ratio of 13.29, a price-to-earnings-growth ratio of 1.06 and a beta of 1.08. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71. Northern Trust Co. has a 1 year low of $76.67 and a 1 year high of $111.87. The company has a 50 day simple moving average of $105.73 and a two-hundred day simple moving average of $95.81.

Northern Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 1st. Shareholders of record on Friday, December 6th were issued a $0.75 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $3.00 dividend on an annualized basis and a yield of 2.81%. Northern Trust’s dividend payout ratio is currently 37.31%.

About Northern Trust

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.