Heartland Advisors Inc. decreased its stake in shares of Northern Trust Corporation (NASDAQ:NTRS – Free Report) by 19.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 107,235 shares of the asset manager’s stock after selling 26,493 shares during the period. Heartland Advisors Inc.’s holdings in Northern Trust were worth $14,647,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently added to or reduced their stakes in NTRS. Triumph Capital Management bought a new stake in Northern Trust during the 3rd quarter valued at approximately $25,000. Board of the Pension Protection Fund bought a new stake in Northern Trust during the 4th quarter valued at approximately $27,000. Elyxium Wealth LLC bought a new stake in Northern Trust during the 4th quarter valued at approximately $34,000. International Assets Investment Management LLC bought a new stake in Northern Trust during the 4th quarter valued at approximately $35,000. Finally, Zions Bancorporation National Association UT boosted its stake in Northern Trust by 179.2% during the 4th quarter. Zions Bancorporation National Association UT now owns 268 shares of the asset manager’s stock valued at $37,000 after purchasing an additional 172 shares during the period. Institutional investors own 83.19% of the company’s stock.
Northern Trust Price Performance
Shares of NTRS stock opened at $166.13 on Thursday. The stock has a 50 day moving average of $161.46 and a two-hundred day moving average of $148.39. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.51. Northern Trust Corporation has a 12 month low of $107.08 and a 12 month high of $173.66. The company has a market capitalization of $30.74 billion, a P/E ratio of 17.40, a P/E/G ratio of 1.22 and a beta of 1.25.
Northern Trust Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Friday, June 5th will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Friday, June 5th. Northern Trust’s dividend payout ratio (DPR) is 33.51%.
Analysts Set New Price Targets
NTRS has been the subject of several recent analyst reports. Truist Financial increased their target price on Northern Trust from $155.00 to $176.00 and gave the company a “hold” rating in a research note on Wednesday, April 22nd. Wells Fargo & Company increased their target price on Northern Trust from $150.00 to $175.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 22nd. The Goldman Sachs Group increased their target price on Northern Trust from $151.00 to $169.00 and gave the company a “neutral” rating in a research note on Wednesday, April 22nd. BMO Capital Markets upgraded Northern Trust from a “market perform” rating to an “outperform” rating and set a $168.00 target price for the company in a research note on Monday, April 6th. Finally, Weiss Ratings upgraded Northern Trust from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $164.08.
Read Our Latest Stock Analysis on NTRS
Insider Buying and Selling
In related news, CFO David W. Fox, Jr. sold 19,987 shares of the firm’s stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $166.16, for a total transaction of $3,321,039.92. Following the completion of the transaction, the chief financial officer owned 18,588 shares in the company, valued at $3,088,582.08. This trade represents a 51.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Clive Bellows sold 2,800 shares of the firm’s stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $165.02, for a total value of $462,056.00. Following the transaction, the insider owned 28,217 shares of the company’s stock, valued at $4,656,369.34. This trade represents a 9.03% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 22,800 shares of company stock worth $3,785,251 in the last 90 days. 0.66% of the stock is owned by company insiders.
Northern Trust Profile
Northern Trust Corporation (NASDAQ: NTRS) is a global financial services firm headquartered in Chicago that provides asset servicing, asset management and wealth management solutions to institutions, corporations and high-net-worth individuals. The company’s core businesses include custody and fund administration, investment operations outsourcing, trust and fiduciary services, private banking, and retirement and defined contribution plan services.
Northern Trust’s product and service offerings span custody and fund accounting, portfolio and performance analytics, securities lending, cash management and foreign exchange, as well as discretionary and non-discretionary investment management.
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