Kathmere Capital Management LLC Acquires Shares of 2,664 Northern Trust Co. (NASDAQ:NTRS)

Kathmere Capital Management LLC bought a new stake in Northern Trust Co. (NASDAQ:NTRS) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,664 shares of the asset manager’s stock, valued at approximately $273,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. FMR LLC raised its holdings in Northern Trust by 9.3% in the third quarter. FMR LLC now owns 18,187,663 shares of the asset manager’s stock valued at $1,637,435,000 after acquiring an additional 1,542,685 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of 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 purchasing an additional 388,692 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Northern Trust by 12.3% during the second quarter. Dimensional Fund Advisors LP now owns 2,003,675 shares of the asset manager’s stock worth $168,253,000 after purchasing an additional 219,387 shares during the last quarter. AQR Capital Management LLC grew its stake in Northern Trust by 55.1% in the second quarter. AQR Capital Management LLC now owns 597,146 shares of the asset manager’s stock worth $49,575,000 after purchasing an additional 212,089 shares in the last quarter. Finally, International Assets Investment Management LLC increased its holdings in Northern Trust by 93,421.2% in the third quarter. International Assets Investment Management LLC now owns 185,172 shares of the asset manager’s stock valued at $152,194,000 after buying an additional 184,974 shares during the last quarter. 83.19% of the stock is currently owned by hedge funds and other institutional investors.

Northern Trust Stock Performance

NTRS opened at $106.49 on Friday. 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 business’s 50 day moving average is $105.67 and its 200-day moving average is $95.50. The stock has a market cap of $21.11 billion, a PE ratio of 13.25, a price-to-earnings-growth ratio of 1.06 and a beta of 1.08. Northern Trust Co. has a twelve month low of $76.67 and a twelve month high of $111.87.

Northern Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 1st. Shareholders of record on Friday, December 6th were paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.82%. The ex-dividend date was Friday, December 6th. Northern Trust’s payout ratio is currently 37.31%.

Analyst Ratings Changes

Several brokerages have recently commented on NTRS. Keefe, Bruyette & Woods lifted their target price on Northern Trust from $100.00 to $113.00 and gave the stock a “market perform” rating in a research report on Tuesday, December 3rd. UBS Group lifted their price objective on shares of Northern Trust from $86.00 to $92.00 and gave the stock a “neutral” rating in a report on Tuesday, October 8th. StockNews.com cut shares of Northern Trust from a “buy” rating to a “hold” rating in a report on Tuesday. Morgan Stanley decreased their price target on shares of Northern Trust from $127.00 to $125.00 and set an “equal weight” rating for the company in a report on Friday, January 3rd. Finally, Truist Financial initiated coverage on shares of Northern Trust in a research note on Tuesday, January 7th. They set a “hold” rating and a $110.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, nine have given 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 an average target price of $107.17.

Insiders Place Their Bets

In related news, Vice Chairman Steven L. Fradkin sold 27,874 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 46,078 shares of the company’s stock, valued at $4,630,839. This represents a 37.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Peter Cherecwich sold 16,153 shares of the firm’s stock in a transaction dated 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 transaction, the chief operating officer now directly owns 4,397 shares in the company, valued at approximately $462,476.46. The trade was a 78.60 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 82,151 shares of company stock worth $8,489,889. 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.