Pallas Capital Advisors LLC Has $624,000 Stock Position in Northern Trust Co. (NASDAQ:NTRS)

Pallas Capital Advisors LLC increased its stake in shares of Northern Trust Co. (NASDAQ:NTRS) by 1.8% in the fourth quarter, Holdings Channel reports. The firm owned 6,091 shares of the asset manager’s stock after buying an additional 107 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Northern Trust were worth $624,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Northwest Investment Counselors LLC acquired a new position in shares of Northern Trust during the 3rd quarter worth about $39,000. Capital Performance Advisors LLP bought a new position in Northern Trust during the 3rd quarter worth approximately $48,000. Eastern Bank bought a new position in Northern Trust during the 3rd quarter worth approximately $51,000. Friedenthal Financial acquired a new position in Northern Trust during the fourth quarter valued at approximately $57,000. Finally, Catalyst Capital Advisors LLC bought a new stake in Northern Trust in the third quarter valued at approximately $68,000. Institutional investors own 83.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on NTRS. The Goldman Sachs Group lowered shares of Northern Trust from a “neutral” rating to a “sell” rating and decreased their price target for the company from $84.00 to $82.00 in a report on Thursday, September 26th. UBS Group increased their price target on Northern Trust from $86.00 to $92.00 and gave the stock a “neutral” rating in a report on Tuesday, October 8th. Evercore ISI raised their price target on Northern Trust from $86.00 to $103.00 and gave the stock an “in-line” rating in a research report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft boosted their price objective on Northern Trust from $100.00 to $108.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Finally, Truist Financial started coverage on shares of Northern Trust in a report on Tuesday, January 7th. They set a “hold” rating and a $110.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Northern Trust currently has a consensus rating of “Hold” and a consensus price target of $107.17.

Northern Trust Stock Up 1.3 %

Shares of NTRS stock opened at $101.63 on Wednesday. The firm’s fifty day moving average price is $105.68 and its two-hundred day moving average price is $95.42. Northern Trust Co. has a 1 year low of $76.67 and a 1 year 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 capitalization of $20.14 billion, a P/E ratio of 12.64, a PEG ratio of 1.18 and a beta of 1.08.

Northern Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 1st. Investors of record on Friday, December 6th were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $3.00 annualized dividend and a yield of 2.95%. Northern Trust’s dividend payout ratio (DPR) is presently 37.31%.

Insider Buying and Selling at Northern Trust

In other Northern Trust news, insider Teresa Parker sold 4,439 shares of the stock in a transaction on Friday, October 25th. The shares were sold at an average price of $100.86, for a total value of $447,717.54. Following the completion of the sale, the insider now owns 79,326 shares in the company, valued at $8,000,820.36. This trade represents a 5.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Vice Chairman Steven L. Fradkin sold 9,100 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $111.00, for a total transaction of $1,010,100.00. Following the transaction, the insider now owns 47,797 shares in the company, valued at $5,305,467. This represents a 15.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 82,151 shares of company stock worth $8,489,889 over the last ninety days. 0.64% of the stock is currently owned by corporate insiders.

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, 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.