Renaissance Technologies LLC purchased a new stake in Northern Trust Corporation (NASDAQ:NTRS – Free Report) during the 1st quarter, Holdings Channel reports. The firm purchased 16,498 shares of the asset manager’s stock, valued at approximately $2,303,000.
A number of other hedge funds also recently made changes to their positions in NTRS. Triumph Capital Management bought a new stake in Northern Trust during the 3rd quarter valued at $25,000. Reflection Asset Management bought a new position in shares of Northern Trust in the fourth quarter worth $25,000. Elyxium Wealth LLC bought a new position in shares of Northern Trust in the fourth quarter worth $34,000. International Assets Investment Management LLC acquired a new position in shares of Northern Trust during the fourth quarter valued at $35,000. Finally, Transamerica Financial Advisors LLC increased its holdings in shares of Northern Trust by 54.1% during the fourth quarter. Transamerica Financial Advisors LLC now owns 265 shares of the asset manager’s stock valued at $36,000 after purchasing an additional 93 shares during the period. Institutional investors own 83.19% of the company’s stock.
Northern Trust Trading Up 1.3%
Shares of NTRS opened at $187.86 on Tuesday. The business’s 50-day moving average price is $178.27 and its 200 day moving average price is $160.91. The stock has a market capitalization of $34.37 billion, a P/E ratio of 16.13, a P/E/G ratio of 1.04 and a beta of 1.25. Northern Trust Corporation has a 1-year low of $121.12 and a 1-year high of $191.60. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.43.
Northern Trust Increases Dividend
Insider Buying and Selling at Northern Trust
In other news, Director Robert Edward Jr. Moritz purchased 255 shares of the business’s stock in a transaction dated Wednesday, July 29th. The shares were acquired at an average price of $179.57 per share, for a total transaction of $45,790.35. Following the completion of the acquisition, the director directly owned 8,400 shares of the company’s stock, valued at $1,508,388. The trade was a 3.13% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.66% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
NTRS has been the subject of several research analyst reports. Evercore set a $179.00 price objective on shares of Northern Trust in a report on Monday, July 6th. Weiss Ratings reissued a “buy (b)” rating on shares of Northern Trust in a research note on Friday, July 31st. The Goldman Sachs Group upped their price target on shares of Northern Trust from $151.00 to $169.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 22nd. Royal Bank Of Canada cut shares of Northern Trust from an “outperform” rating to a “sector perform” rating and set a $178.00 price objective for the company. in a report on Wednesday, July 22nd. Finally, Citigroup raised their price objective on shares of Northern Trust from $162.00 to $172.00 and gave the company a “neutral” rating in a research note on Tuesday, June 30th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $180.68.
Check Out Our Latest Stock Report 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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