Pictet Asset Management Holding SA lessened its holdings in Northern Trust Corporation (NASDAQ:NTRS – Free Report) by 4.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 105,953 shares of the asset manager’s stock after selling 5,510 shares during the quarter. Pictet Asset Management Holding SA owned about 0.06% of Northern Trust worth $14,788,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. CWM LLC boosted its holdings in Northern Trust by 122.6% in the fourth quarter. CWM LLC now owns 48,284 shares of the asset manager’s stock worth $6,595,000 after acquiring an additional 26,594 shares in the last quarter. iSAM Funds UK Ltd purchased a new stake in shares of Northern Trust in the third quarter worth $2,253,000. Cinctive Capital Management LP increased its holdings in shares of Northern Trust by 113.7% during the third quarter. Cinctive Capital Management LP now owns 28,939 shares of the asset manager’s stock valued at $3,895,000 after acquiring an additional 15,398 shares in the last quarter. Concurrent Investment Advisors LLC bought a new position in shares of Northern Trust during the fourth quarter valued at $1,959,000. Finally, Barclays PLC raised its position in shares of Northern Trust by 62.4% in the 3rd quarter. Barclays PLC now owns 1,042,084 shares of the asset manager’s stock worth $140,265,000 after purchasing an additional 400,247 shares during the last quarter. Institutional investors own 83.19% of the company’s stock.
Northern Trust Price Performance
NASDAQ NTRS opened at $176.50 on Friday. Northern Trust Corporation has a one year low of $118.99 and a one year high of $178.70. The stock has a 50-day moving average of $168.75 and a 200 day moving average of $153.07. The company has a market capitalization of $32.66 billion, a price-to-earnings ratio of 18.48, a PEG ratio of 1.20 and a beta of 1.24. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.62 and a current ratio of 0.62.
Northern Trust Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Friday, June 5th were issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, June 5th. Northern Trust’s payout ratio is presently 33.51%.
Insider Activity at Northern Trust
In related news, Director Robert Edward Jr. Moritz bought 225 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The shares were bought at an average price of $166.41 per share, for a total transaction of $37,442.25. Following the completion of the acquisition, the director owned 8,145 shares of the company’s stock, valued at $1,355,409.45. This trade represents a 2.84% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 completion of the sale, the chief financial officer directly 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 22,800 shares of company stock worth $3,785,251 over the last quarter. Company insiders own 0.66% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities analysts recently issued reports on NTRS shares. JPMorgan Chase & Co. upped their price target on shares of Northern Trust from $153.50 to $170.00 and gave the stock a “neutral” rating in a research note on Monday, May 11th. Zacks Research raised shares of Northern Trust from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th. Barclays upped their target price on shares of Northern Trust from $160.00 to $176.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 22nd. Weiss Ratings upgraded shares of Northern Trust from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. Finally, The Goldman Sachs Group raised their price target on shares of Northern Trust from $151.00 to $169.00 and gave the company a “neutral” rating in a research report on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Northern Trust currently has an average rating of “Hold” and a consensus price target of $170.69.
View Our Latest Analysis on Northern Trust
Northern Trust Company 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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