Tobam Boosts Holdings in Northern Trust Co. (NASDAQ:NTRS)

Tobam lifted its stake in shares of Northern Trust Co. (NASDAQ:NTRS) by 11.1% during the 4th quarter, HoldingsChannel reports. The fund owned 4,535 shares of the asset manager’s stock after acquiring an additional 454 shares during the period. Tobam’s holdings in Northern Trust were worth $465,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Northern Trust by 2.2% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,236 shares of the asset manager’s stock worth $2,177,000 after purchasing an additional 447 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Northern Trust by 24.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,061 shares of the asset manager’s stock worth $2,286,000 after buying an additional 4,374 shares during the last quarter. Y.D. More Investments Ltd raised its position in shares of Northern Trust by 118.4% in the 4th quarter. Y.D. More Investments Ltd now owns 249 shares of the asset manager’s stock worth $26,000 after buying an additional 135 shares during the period. Boston Trust Walden Corp boosted its holdings in Northern Trust by 1.6% in the fourth quarter. Boston Trust Walden Corp now owns 928,854 shares of the asset manager’s stock valued at $95,208,000 after acquiring an additional 14,362 shares during the last quarter. Finally, Chicago Capital LLC grew its position in Northern Trust by 2.8% during the fourth quarter. Chicago Capital LLC now owns 13,617 shares of the asset manager’s stock valued at $1,396,000 after acquiring an additional 365 shares during the period. 83.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NTRS has been the topic of a number of research reports. StockNews.com upgraded Northern Trust from a “hold” rating to a “buy” rating in a report on Friday, January 24th. Bank of America lifted their price target on shares of Northern Trust from $103.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. The Goldman Sachs Group increased their price objective on shares of Northern Trust from $92.00 to $102.00 and gave the stock a “sell” rating in a research report on Friday, January 24th. Truist Financial upped their price target on shares of Northern Trust from $110.00 to $116.00 and gave the stock a “hold” rating in a research report on Friday, January 24th. Finally, Morgan Stanley cut their price objective on Northern Trust from $127.00 to $125.00 and set an “equal weight” rating on the stock in a research report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Northern Trust currently has a consensus rating of “Hold” and a consensus target price of $112.58.

Insider Buying and Selling at Northern Trust

In other Northern Trust news, insider John Landers sold 900 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $111.44, for a total transaction of $100,296.00. Following the sale, the insider now directly owns 7,640 shares of the company’s stock, valued at approximately $851,401.60. This represents a 10.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman Steven L. Fradkin sold 9,100 shares of Northern Trust stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $111.00, for a total transaction of $1,010,100.00. Following the completion of the transaction, the insider now directly owns 47,797 shares of the company’s stock, valued at $5,305,467. This trade represents a 15.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 40,631 shares of company stock worth $4,550,459 over the last quarter. 0.64% of the stock is owned by corporate insiders.

Northern Trust Stock Up 0.5 %

NTRS stock opened at $113.80 on Friday. The company has a current ratio of 0.68, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The firm has a 50 day simple moving average of $106.33 and a 200-day simple moving average of $98.05. The company has a market capitalization of $22.56 billion, a P/E ratio of 11.64, a PEG ratio of 1.72 and a beta of 1.08. Northern Trust Co. has a twelve month low of $76.67 and a twelve month high of $114.21.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings data on Thursday, January 23rd. The asset manager reported $2.26 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.30. Northern Trust had a net margin of 12.77% and a return on equity of 13.74%. On average, equities research analysts predict that Northern Trust Co. will post 8.2 earnings per share for the current fiscal year.

Northern Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 2.64%. The ex-dividend date of this dividend is Friday, March 14th. Northern Trust’s dividend payout ratio is currently 30.67%.

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.