Gamco Investors INC. ET AL Sells 14,351 Shares of Northern Trust Corporation $NTRS

Gamco Investors INC. ET AL reduced its position in Northern Trust Corporation (NASDAQ:NTRSFree Report) by 8.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 148,747 shares of the asset manager’s stock after selling 14,351 shares during the quarter. Gamco Investors INC. ET AL owned about 0.08% of Northern Trust worth $20,761,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Reflection Asset Management bought a new stake in Northern Trust during the 4th quarter worth approximately $25,000. Triumph Capital Management bought a new position in Northern Trust in the 3rd quarter valued at $25,000. Elyxium Wealth LLC purchased a new position in shares of Northern Trust during the 4th quarter valued at $34,000. International Assets Investment Management LLC bought a new position in shares of Northern Trust in the fourth quarter worth $35,000. Finally, Transamerica Financial Advisors LLC raised its position in shares of Northern Trust by 54.1% in the fourth quarter. Transamerica Financial Advisors LLC now owns 265 shares of the asset manager’s stock worth $36,000 after buying an additional 93 shares in the last quarter. 83.19% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

NTRS has been the subject of several research analyst reports. Bank of America lifted their price objective on Northern Trust from $190.00 to $200.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Morgan Stanley raised their price target on Northern Trust from $170.00 to $173.00 and gave the company an “underweight” rating in a report on Thursday. Evercore set a $179.00 price target on Northern Trust in a research report on Monday, July 6th. Truist Financial boosted their price objective on Northern Trust from $176.00 to $186.00 and gave the stock a “hold” rating in a report on Friday, June 26th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Northern Trust from $157.00 to $175.00 and gave the stock an “underperform” rating in a research report on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Northern Trust presently has a consensus rating of “Hold” and an average price target of $180.25.

Get Our Latest Research Report on Northern Trust

Northern Trust Stock Up 1.4%

Shares of NASDAQ:NTRS opened at $180.52 on Friday. Northern Trust Corporation has a 52-week low of $121.12 and a 52-week high of $191.60. The firm has a fifty day moving average of $174.80 and a 200 day moving average of $157.87. The firm has a market capitalization of $33.41 billion, a PE ratio of 15.50, a price-to-earnings-growth ratio of 1.13 and a beta of 1.25. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.62 and a current ratio of 0.65.

Northern Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 4th will be paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.9%. This is an increase from Northern Trust’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Friday, September 4th. Northern Trust’s dividend payout ratio is presently 27.47%.

Insider Transactions at Northern Trust

In other news, CFO David W. Fox, Jr. sold 19,987 shares of the company’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $166.16, for a total value of $3,321,039.92. Following the completion of the transaction, the chief financial officer directly owned 18,588 shares in the company, valued at approximately $3,088,582.08. This represents a 51.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert Edward Jr. Moritz acquired 225 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The shares were purchased at an average cost 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 in the company, valued at $1,355,409.45. This represents a 2.84% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.66% of the stock is currently owned by corporate insiders.

Northern Trust Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Northern Trust (NASDAQ:NTRS)

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