Northern Trust Co. (NASDAQ:NTRS) Shares Acquired by Pitcairn Co.

Pitcairn Co. increased its holdings in shares of Northern Trust Co. (NASDAQ:NTRS) by 53.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,518 shares of the asset manager’s stock after acquiring an additional 8,567 shares during the quarter. Pitcairn Co.’s holdings in Northern Trust were worth $2,513,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Ballentine Partners LLC raised its position in Northern Trust by 4.4% in the fourth quarter. Ballentine Partners LLC now owns 2,483 shares of the asset manager’s stock valued at $255,000 after purchasing an additional 105 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position 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 acquiring an additional 4,374 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Northern Trust by 9.9% in the third quarter. JPMorgan Chase & Co. now owns 4,296,442 shares of the asset manager’s stock valued at $386,809,000 after purchasing an additional 388,692 shares during the last quarter. Kovitz Investment Group Partners LLC grew its position in shares of Northern Trust by 68.1% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 13,765 shares of the asset manager’s stock valued at $1,239,000 after buying an additional 5,578 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Northern Trust by 0.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,267,406 shares of the asset manager’s stock worth $129,909,000 after purchasing an additional 8,102 shares in the last quarter. 83.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on NTRS. Truist Financial boosted their target price on Northern Trust from $110.00 to $116.00 and gave the company a “hold” rating in a report on Friday, January 24th. The Goldman Sachs Group boosted their price target on Northern Trust from $92.00 to $102.00 and gave the stock a “sell” rating in a report on Friday, January 24th. Royal Bank of Canada raised their target price on shares of Northern Trust from $107.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, January 24th. Barclays upped their price objective on shares of Northern Trust from $115.00 to $118.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Finally, Morgan Stanley cut their target price on Northern Trust from $136.00 to $132.00 and set an “equal weight” rating on the stock in a research report on Wednesday. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $113.69.

Insider Buying and Selling at Northern Trust

In other Northern Trust news, COO Peter Cherecwich sold 26,132 shares of the company’s stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $112.36, for a total value of $2,936,191.52. Following the sale, the chief operating officer now owns 26,586 shares in the company, valued at approximately $2,987,202.96. The trade was a 49.57 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Jane Karpinski sold 2,262 shares of Northern Trust stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $111.33, for a total transaction of $251,828.46. Following the transaction, the executive vice president now directly owns 17,236 shares of the company’s stock, valued at $1,918,883.88. This represents a 11.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,335 shares of company stock valued at $3,970,211 in the last three months. Corporate insiders own 0.77% of the company’s stock.

Northern Trust Trading Up 0.8 %

Shares of NASDAQ NTRS opened at $98.73 on Thursday. The company has a quick ratio of 0.71, a current ratio of 0.68 and a debt-to-equity ratio of 0.58. The company’s fifty day moving average is $106.51 and its 200-day moving average is $103.11. Northern Trust Co. has a twelve month low of $79.32 and a twelve month high of $114.67. The stock has a market cap of $19.32 billion, a price-to-earnings ratio of 10.10, a P/E/G ratio of 1.72 and a beta of 1.07.

Northern Trust (NASDAQ:NTRS) last announced its earnings results on Thursday, January 23rd. The asset manager reported $2.26 EPS 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%. Equities research analysts predict that Northern Trust Co. will post 8.27 EPS for the current year.

Northern Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date of this dividend was Friday, March 14th. Northern Trust’s dividend payout ratio is 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.