Hussman Strategic Advisors Inc. purchased a new position in shares of Northern Trust Co. (NASDAQ:NTRS - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 6,300 shares of the asset manager's stock, valued at approximately $646,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of NTRS. FMR LLC boosted its holdings in shares of Northern Trust by 9.3% during the 3rd quarter. FMR LLC now owns 18,187,663 shares of the asset manager's stock worth $1,637,435,000 after buying an additional 1,542,685 shares in the last quarter. KBC Group NV raised its position in shares of Northern Trust by 201.6% during the fourth quarter. KBC Group NV now owns 963,811 shares of the asset manager's stock worth $98,791,000 after purchasing an additional 644,261 shares during the period. JPMorgan Chase & Co. raised its position in shares of Northern Trust by 9.9% during the third quarter. JPMorgan Chase & Co. now owns 4,296,442 shares of the asset manager's stock worth $386,809,000 after purchasing an additional 388,692 shares during the period. Robeco Institutional Asset Management B.V. raised its position in shares of Northern Trust by 62.8% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 678,461 shares of the asset manager's stock worth $69,542,000 after purchasing an additional 261,797 shares during the period. Finally, International Assets Investment Management LLC raised its position in shares of Northern Trust by 93,421.2% during the third quarter. International Assets Investment Management LLC now owns 185,172 shares of the asset manager's stock worth $152,194,000 after purchasing an additional 184,974 shares during the period. 83.19% of the stock is currently owned by institutional investors.
Shares of NTRS stock traded down $0.56 on Friday, hitting $112.97. 1,006,850 shares of the stock were exchanged, compared to its average volume of 1,139,357. 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 market capitalization of $22.39 billion, a PE ratio of 11.55, a P/E/G ratio of 1.72 and a beta of 1.08. Northern Trust Co. has a one year low of $79.30 and a one year high of $114.67. The firm's 50 day moving average is $107.25 and its two-hundred day moving average is $100.07.
Northern Trust (NASDAQ:NTRS - Get Free Report) last posted its quarterly earnings results 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 return on equity of 13.74% and a net margin of 12.77%. Sell-side analysts expect that Northern Trust Co. will post 8.27 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a $0.75 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $3.00 annualized dividend and a dividend yield of 2.66%. Northern Trust's payout ratio is currently 30.67%.
NTRS has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft upped their target price on Northern Trust from $100.00 to $108.00 and gave the stock a "hold" rating in a research report on Monday, November 11th. Truist Financial increased their price target on Northern Trust from $110.00 to $116.00 and gave the company a "hold" rating in a research report on Friday, January 24th. Wells Fargo & Company increased their price target on Northern Trust from $108.00 to $110.00 and gave the company an "equal weight" rating in a research report on Friday, November 15th. Keefe, Bruyette & Woods increased their price target on Northern Trust from $113.00 to $122.00 and gave the company a "market perform" rating in a research report on Friday, January 24th. Finally, StockNews.com raised Northern Trust from a "hold" rating to a "buy" rating in a research report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Northern Trust currently has an average rating of "Hold" and an average price target of $112.58.
Get Our Latest Report on NTRS
In other Northern Trust news, insider John Landers sold 900 shares of Northern Trust stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $111.44, for a total value of $100,296.00. Following the transaction, the insider now directly owns 7,640 shares of the company's stock, valued at $851,401.60. The trade was a 10.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Thomas A. South sold 3,804 shares of Northern Trust stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $113.00, for a total value of $429,852.00. Following the completion of the transaction, the executive vice president now directly owns 81,794 shares in the company, valued at $9,242,722. This trade represents a 4.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 44,435 shares of company stock valued at $4,980,311 in the last 90 days. Corporate insiders own 0.64% of the company's stock.
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.
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