Trust Asset Management LLC Makes New Investment in Northern Trust Co. (NASDAQ:NTRS)

Trust Asset Management LLC bought a new position in shares of Northern Trust Co. (NASDAQ:NTRS) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 2,422 shares of the asset manager’s stock, valued at approximately $204,000.

Other large investors have also recently added to or reduced their stakes in the company. Ballast Inc. lifted its holdings in shares of Northern Trust by 1.1% during the fourth quarter. Ballast Inc. now owns 12,208 shares of the asset manager’s stock worth $1,030,000 after buying an additional 136 shares during the last quarter. Diversified Trust Co lifted its holdings in shares of Northern Trust by 1.9% during the fourth quarter. Diversified Trust Co now owns 8,531 shares of the asset manager’s stock worth $720,000 after buying an additional 156 shares during the last quarter. Quent Capital LLC lifted its holdings in shares of Northern Trust by 77.8% during the fourth quarter. Quent Capital LLC now owns 361 shares of the asset manager’s stock worth $30,000 after buying an additional 158 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Northern Trust by 33.5% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 654 shares of the asset manager’s stock worth $55,000 after buying an additional 164 shares during the last quarter. Finally, Smith Salley & Associates lifted its holdings in shares of Northern Trust by 2.9% during the fourth quarter. Smith Salley & Associates now owns 6,001 shares of the asset manager’s stock worth $506,000 after buying an additional 167 shares during the last quarter. Institutional investors own 83.19% of the company’s stock.

Northern Trust Price Performance

Shares of NASDAQ NTRS traded down $0.86 during midday trading on Thursday, reaching $83.44. 1,595,413 shares of the company traded hands, compared to its average volume of 1,520,945. The firm has a market cap of $17.02 billion, a PE ratio of 18.42, a PEG ratio of 1.21 and a beta of 1.13. The stock’s 50-day simple moving average is $83.60 and its 200-day simple moving average is $79.41. Northern Trust Co. has a 12 month low of $62.44 and a 12 month high of $89.25. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.71.

Northern Trust Announces Dividend

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

Insider Buying and Selling at Northern Trust

In related news, insider Steven L. Fradkin sold 30,392 shares of Northern Trust stock in a transaction dated 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 transaction, the insider now directly owns 55,707 shares of the company’s stock, valued at $4,462,687.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Wolfe Research lowered Northern Trust from a “peer perform” rating to an “underperform” rating and set a $85.00 price target for the company. in a report on Wednesday, January 3rd. Royal Bank of Canada upped their target price on Northern Trust from $82.00 to $86.00 and gave the company an “outperform” rating in a research note on Friday, January 19th. Bank of America upped their target price on Northern Trust from $93.00 to $101.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. Barclays upped their target price on Northern Trust from $90.00 to $98.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 2nd. Finally, Jefferies Financial Group upped their target price on Northern Trust from $101.00 to $103.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Northern Trust has an average rating of “Hold” and a consensus price target of $84.92.

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.