InvesTrust Takes Position in Northern Trust Co. (NASDAQ:NTRS)

InvesTrust bought a new position in shares of Northern Trust Co. (NASDAQ:NTRS) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 74,165 shares of the asset manager’s stock, valued at approximately $7,608,000. Northern Trust accounts for about 2.1% of InvesTrust’s holdings, making the stock its 16th largest position.

Several other institutional investors have also modified their holdings of NTRS. Allworth Financial LP increased its stake in shares of Northern Trust by 9.1% during the 3rd quarter. Allworth Financial LP now owns 1,170 shares of the asset manager’s stock worth $105,000 after purchasing an additional 98 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its holdings in shares of Northern Trust by 14.5% in the third quarter. Massmutual Trust Co. FSB ADV now owns 922 shares of the asset manager’s stock worth $83,000 after acquiring an additional 117 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its stake in shares of Northern Trust by 0.3% during the second quarter. DekaBank Deutsche Girozentrale now owns 43,713 shares of the asset manager’s stock valued at $3,608,000 after acquiring an additional 120 shares during the last quarter. Mesirow Financial Investment Management Inc. grew its holdings in shares of Northern Trust by 0.4% during the third quarter. Mesirow Financial Investment Management Inc. now owns 35,673 shares of the asset manager’s stock worth $3,212,000 after buying an additional 127 shares in the last quarter. Finally, Empirical Finance LLC grew its stake in Northern Trust by 2.2% in the 3rd quarter. Empirical Finance LLC now owns 7,164 shares of the asset manager’s stock worth $645,000 after acquiring an additional 152 shares during the period. Institutional investors and hedge funds own 83.19% of the company’s stock.

Northern Trust Stock Down 0.8 %

NASDAQ:NTRS traded down $0.87 during trading hours on Wednesday, hitting $101.88. 847,935 shares of the stock traded hands, compared to its average volume of 898,909. Northern Trust Co. has a fifty-two week low of $76.67 and a fifty-two week high of $111.87. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The firm has a market cap of $20.19 billion, a price-to-earnings ratio of 12.67, a PEG ratio of 1.18 and a beta of 1.08. The firm has a 50 day moving average price of $105.63 and a 200 day moving average price of $94.78.

Northern Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 1st. Shareholders of record on Friday, December 6th were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.94%. The ex-dividend date of this dividend was Friday, December 6th. Northern Trust’s payout ratio is 37.31%.

Insider Buying and Selling

In other news, 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 value of $447,717.54. Following the transaction, the insider now owns 79,326 shares of the company’s stock, valued at approximately $8,000,820.36. This trade represents a 5.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Vice Chairman Steven L. Fradkin sold 27,874 shares of the stock in a transaction that occurred on Friday, October 25th. The shares were 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 owns 46,078 shares in the company, valued at $4,630,839. This represents a 37.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 82,151 shares of company stock worth $8,489,889 in the last quarter. 0.64% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Morgan Stanley decreased their price target on shares of Northern Trust from $127.00 to $125.00 and set an “equal weight” rating on the stock in a report on Friday, January 3rd. Truist Financial assumed coverage on shares of Northern Trust in a research report on Tuesday. They issued a “hold” rating and a $110.00 price target on the stock. The Goldman Sachs Group lowered Northern Trust from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $84.00 to $82.00 in a research report on Thursday, September 26th. Evercore ISI boosted 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 note on Thursday, October 24th. Finally, StockNews.com raised Northern Trust from a “hold” rating to a “buy” rating in a report on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Northern Trust has an average rating of “Hold” and a consensus price target of $107.17.

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.