iA Global Asset Management Inc. purchased a new stake in shares of Northern Trust Corporation (NASDAQ:NTRS – Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 13,241 shares of the asset manager’s stock, valued at approximately $1,848,000.
Several other institutional investors have also recently made changes to their positions in NTRS. Triumph Capital Management purchased a new position in shares of Northern Trust in the third quarter worth approximately $25,000. Reflection Asset Management purchased a new stake in Northern Trust during the fourth quarter valued at approximately $25,000. Board of the Pension Protection Fund purchased a new stake in Northern Trust during the fourth quarter valued at approximately $27,000. Elyxium Wealth LLC bought a new position in Northern Trust in the fourth quarter worth approximately $34,000. Finally, International Assets Investment Management LLC bought a new position in Northern Trust in the fourth quarter worth approximately $35,000. Institutional investors own 83.19% of the company’s stock.
Northern Trust Stock Performance
Shares of NASDAQ NTRS opened at $176.50 on Friday. The firm has a fifty day moving average price of $168.75 and a 200-day moving average price of $153.07. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.62 and a quick ratio of 0.62. The stock has a market cap of $32.66 billion, a PE ratio of 18.48, a price-to-earnings-growth ratio of 1.20 and a beta of 1.24. Northern Trust Corporation has a 1 year low of $118.99 and a 1 year high of $178.70.
Northern Trust Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Friday, June 5th were issued a dividend of $0.80 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $3.20 dividend on an annualized basis and a yield of 1.8%. Northern Trust’s dividend payout ratio (DPR) is currently 33.51%.
Insider Activity
In related news, CFO David W. Fox, Jr. sold 19,987 shares of Northern Trust 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 sale, the chief financial officer owned 18,588 shares of the company’s stock, valued at approximately $3,088,582.08. This trade represents a 51.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert Edward Jr. Moritz bought 225 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The shares were acquired at an average cost of $166.41 per share, for a total transaction of $37,442.25. Following the purchase, the director directly owned 8,145 shares in the company, valued at $1,355,409.45. This trade represents a 2.84% increase in their position. The SEC filing for this purchase provides additional information. Insiders have sold 22,800 shares of company stock worth $3,785,251 over the last ninety days. Corporate insiders own 0.66% of the company’s stock.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on NTRS shares. Citigroup boosted their price objective on shares of Northern Trust from $162.00 to $172.00 and gave the company a “neutral” rating in a research report on Tuesday. Morgan Stanley raised their target price on Northern Trust from $157.00 to $170.00 and gave the stock an “underweight” rating in a report on Monday. Wells Fargo & Company lifted their target price on Northern Trust from $175.00 to $189.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 24th. Zacks Research raised Northern Trust from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th. Finally, Royal Bank Of Canada upped their price target on Northern Trust from $159.00 to $178.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $170.69.
Check Out Our Latest Stock Analysis on NTRS
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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