Farr Miller & Washington LLC DC acquired a new position in shares of Northern Trust Co. (NASDAQ:NTRS) during the 1st quarter, Holdings Channel reports. The fund acquired 1,986 shares of the asset manager’s stock, valued at approximately $209,000.
Several other institutional investors and hedge funds have also recently modified their holdings of NTRS. BlackRock Inc. increased its position in shares of Northern Trust by 3.9% during the 1st quarter. BlackRock Inc. now owns 14,498,779 shares of the asset manager’s stock valued at $1,523,965,000 after purchasing an additional 546,512 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Northern Trust by 3.8% during the 1st quarter. JPMorgan Chase & Co. now owns 7,271,599 shares of the asset manager’s stock worth $764,318,000 after purchasing an additional 265,560 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Northern Trust by 5.5% during the 1st quarter. Northern Trust Corp now owns 6,724,047 shares of the asset manager’s stock worth $706,764,000 after purchasing an additional 353,448 shares during the last quarter. Ameriprise Financial Inc. raised its stake in Northern Trust by 7.6% in the first quarter. Ameriprise Financial Inc. now owns 4,358,745 shares of the asset manager’s stock valued at $458,157,000 after buying an additional 308,382 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Northern Trust by 2.4% in the first quarter. Geode Capital Management LLC now owns 3,574,091 shares of the asset manager’s stock valued at $374,684,000 after buying an additional 83,685 shares during the last quarter. 80.90% of the stock is currently owned by institutional investors and hedge funds.
Shares of Northern Trust stock opened at $113.60 on Thursday. Northern Trust Co. has a fifty-two week low of $72.64 and a fifty-two week high of $123.10. The stock has a market cap of $23.64 billion, a price-to-earnings ratio of 20.29 and a beta of 1.08. The business’s fifty day simple moving average is $116.65. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.42.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 1st. Shareholders of record on Friday, September 10th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date of this dividend is Thursday, September 9th. Northern Trust’s dividend payout ratio is presently 48.03%.
NTRS has been the topic of a number of research reports. Credit Suisse Group increased their price objective on Northern Trust from $104.00 to $108.00 and gave the company an “underperform” rating in a report on Thursday. Morgan Stanley dropped their price objective on Northern Trust from $131.00 to $126.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 21st. Barclays raised their price objective on Northern Trust from $105.00 to $112.00 and gave the company an “equal weight” rating in a report on Wednesday, April 7th. Keefe, Bruyette & Woods downgraded Northern Trust from an “outperform” rating to a “market perform” rating and set a $128.00 target price on the stock. in a research report on Thursday, June 17th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Northern Trust from $110.00 to $117.00 and gave the stock a “buy” rating in a research report on Friday, April 9th. Four analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $109.07.
In related news, CEO Michael O’grady sold 42,638 shares of the stock in a transaction on Wednesday, May 5th. The stock was sold at an average price of $117.52, for a total value of $5,010,817.76. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Clair Joyce St sold 9,248 shares of the stock in a transaction on Friday, April 23rd. The stock was sold at an average price of $107.42, for a total value of $993,420.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 136,528 shares of company stock worth $16,008,516. Corporate insiders own 0.69% of the company’s stock.
Northern Trust Company 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, Corporate & Institutional Services (C&IS) and Wealth Management.
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