2,422 Shares in Northern Trust Co. (NASDAQ:NTRS) Bought by Trust Asset Management LLC

Trust Asset Management LLC bought a new stake in Northern Trust Co. (NASDAQ:NTRS) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,422 shares of the asset manager’s stock, valued at approximately $204,000.

Other large investors have also recently bought and sold shares of the company. Fortitude Family Office LLC bought a new position in Northern Trust in the fourth quarter valued at about $28,000. Quent Capital LLC raised its position in Northern Trust by 77.8% in the fourth quarter. Quent Capital LLC now owns 361 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 158 shares during the last quarter. Allworth Financial LP raised its position in Northern Trust by 94.1% in the fourth quarter. Allworth Financial LP now owns 359 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 174 shares during the last quarter. Hexagon Capital Partners LLC raised its position in Northern Trust by 306.3% in the third quarter. Hexagon Capital Partners LLC now owns 581 shares of the asset manager’s stock valued at $40,000 after purchasing an additional 438 shares during the last quarter. Finally, Covestor Ltd raised its position in Northern Trust by 147.5% in the third quarter. Covestor Ltd now owns 604 shares of the asset manager’s stock valued at $42,000 after purchasing an additional 360 shares during the last quarter. 83.19% of the stock is currently owned by institutional investors.

Northern Trust Trading Down 1.0 %

NASDAQ NTRS traded down $0.86 during trading hours on Thursday, hitting $83.44. 1,595,413 shares of the company’s stock were exchanged, compared to its average volume of 1,520,945. The stock has a 50-day simple moving average of $83.60 and a 200 day simple moving average of $79.41. Northern Trust Co. has a 1-year low of $62.44 and a 1-year high of $89.25. The firm has a market cap of $17.02 billion, a price-to-earnings ratio of 18.42, a PEG ratio of 1.21 and a beta of 1.13. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61.

Northern Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be paid a $0.75 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $3.00 dividend on an annualized basis and a yield of 3.60%. Northern Trust’s dividend payout ratio (DPR) is presently 66.23%.

Insider Buying and Selling at Northern Trust

In other Northern Trust news, insider Steven L. Fradkin sold 30,392 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $80.11, for a total value of $2,434,703.12. Following the completion of the sale, the insider now owns 55,707 shares of the company’s stock, valued at $4,462,687.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.64% of the company’s stock.

Analyst Upgrades and Downgrades

NTRS has been the subject of several research reports. Barclays increased their target price on Northern Trust from $90.00 to $98.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 2nd. Evercore ISI increased their price target on Northern Trust from $86.00 to $87.00 and gave the company an “in-line” rating in a research note on Thursday, April 4th. Jefferies Financial Group increased their price target on Northern Trust from $101.00 to $103.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Bank of America increased their price target on Northern Trust from $93.00 to $101.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. Finally, Royal Bank of Canada increased their price target on Northern Trust from $82.00 to $86.00 and gave the company an “outperform” rating in a research note on Friday, January 19th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $84.92.

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.