Northern Trust Co. (NASDAQ:NTRS) Shares Purchased by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Northern Trust Co. (NASDAQ:NTRS) by 257.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 72,598 shares of the asset manager’s stock after purchasing an additional 52,280 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Northern Trust were worth $7,441,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Y.D. More Investments Ltd grew its stake in shares of Northern Trust by 118.4% in the fourth quarter. Y.D. More Investments Ltd now owns 249 shares of the asset manager’s stock worth $26,000 after acquiring an additional 135 shares in the last quarter. Colonial Trust Co SC lifted its position in Northern Trust by 6,400.0% in the fourth quarter. Colonial Trust Co SC now owns 260 shares of the asset manager’s stock valued at $27,000 after acquiring an additional 256 shares during the last quarter. Empirical Asset Management LLC acquired a new position in Northern Trust in the fourth quarter valued at $33,000. Brooklyn Investment Group increased its stake in Northern Trust by 51.2% in the fourth quarter. Brooklyn Investment Group now owns 378 shares of the asset manager’s stock valued at $39,000 after purchasing an additional 128 shares during the period. Finally, Assetmark Inc. increased its stake in Northern Trust by 528.3% in the fourth quarter. Assetmark Inc. now owns 377 shares of the asset manager’s stock valued at $39,000 after purchasing an additional 317 shares during the period. Institutional investors and hedge funds own 83.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Truist Financial dropped their price target on shares of Northern Trust from $98.00 to $92.00 and set a “hold” rating on the stock in a research note on Wednesday, April 23rd. Keefe, Bruyette & Woods increased their price target on shares of Northern Trust from $113.00 to $122.00 and gave the company a “market perform” rating in a research report on Friday, January 24th. UBS Group upped their price objective on shares of Northern Trust from $110.00 to $114.00 and gave the company a “neutral” rating in a research note on Monday, January 27th. Evercore ISI reduced their price objective on shares of Northern Trust from $104.00 to $100.00 and set an “in-line” rating on the stock in a research note on Wednesday, April 23rd. Finally, The Goldman Sachs Group increased their price target on shares of Northern Trust from $92.00 to $102.00 and gave the stock a “sell” rating in a research note on Friday, January 24th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Northern Trust has an average rating of “Hold” and an average target price of $110.83.

Insider Activity at Northern Trust

In related news, EVP Clive Bellows sold 3,300 shares of the business’s stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $99.95, for a total transaction of $329,835.00. Following the completion of the sale, the executive vice president now owns 28,736 shares of the company’s stock, valued at $2,872,163.20. This represents a 10.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Teresa Parker sold 6,467 shares of the business’s stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $100.62, for a total transaction of $650,709.54. Following the transaction, the insider now directly owns 79,391 shares of the company’s stock, valued at $7,988,322.42. The trade was a 7.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 13,571 shares of company stock valued at $1,410,397 in the last quarter. Insiders own 0.77% of the company’s stock.

Northern Trust Stock Performance

Northern Trust stock opened at $107.90 on Friday. Northern Trust Co. has a 12-month low of $79.68 and a 12-month high of $114.67. The company has a market capitalization of $20.99 billion, a price-to-earnings ratio of 11.03, a price-to-earnings-growth ratio of 1.72 and a beta of 1.18. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.68 and a quick ratio of 0.71. The firm’s fifty day moving average price is $95.44 and its 200 day moving average price is $103.06.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings results on Tuesday, April 22nd. The asset manager reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.05. The firm had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.95 billion. Northern Trust had a net margin of 12.77% and a return on equity of 13.74%. On average, research analysts forecast that Northern Trust Co. will post 8.27 EPS for the current fiscal year.

Northern Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 6th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 2.78%. The ex-dividend date is Friday, June 6th. Northern Trust’s payout ratio is currently 27.99%.

Northern Trust Profile

Northern Trust Corporation, a financial holding company, provides wealth management, asset servicing, asset management, and banking solutions for corporations, institutions, families, and individuals worldwide. It operates in two segments, Asset Servicing and Wealth Management. The Asset Servicing segment offers asset servicing and related services, including custody, fund administration, investment operations outsourcing, investment management, investment risk and analytical services, employee benefit services, securities lending, foreign exchange, treasury management, brokerage services, transition management services, banking, and cash management services.