Cullen Frost Bankers Inc. Has $87,000 Stock Position in Northern Trust Co. (NASDAQ:NTRS)

Cullen Frost Bankers Inc. grew its stake in Northern Trust Co. (NASDAQ:NTRS) by 473.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 848 shares of the asset manager’s stock after buying an additional 700 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Northern Trust were worth $87,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. FMR LLC boosted its stake in Northern Trust by 9.3% in the 3rd quarter. FMR LLC now owns 18,187,663 shares of the asset manager’s stock worth $1,637,435,000 after purchasing an additional 1,542,685 shares during the period. KBC Group NV lifted its holdings in shares of Northern Trust by 201.6% in the fourth quarter. KBC Group NV now owns 963,811 shares of the asset manager’s stock valued at $98,791,000 after purchasing an additional 644,261 shares in the last quarter. JPMorgan Chase & Co. boosted 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 buying an additional 388,692 shares during the period. Robeco Institutional Asset Management B.V. grew its holdings 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 buying an additional 261,797 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in Northern Trust by 67.4% in the 3rd quarter. Victory Capital Management Inc. now owns 403,990 shares of the asset manager’s stock valued at $36,371,000 after buying an additional 162,623 shares during the last quarter. Institutional investors own 83.19% of the company’s stock.

Insider Buying and Selling at Northern Trust

In other news, EVP Thomas A. South sold 3,804 shares of the company’s 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 transaction, the executive vice president now owns 81,794 shares of the company’s stock, valued at approximately $9,242,722. This represents a 4.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Peter Cherecwich sold 26,132 shares of Northern Trust stock in a transaction that occurred on 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 directly owns 26,586 shares of the company’s stock, valued at approximately $2,987,202.96. The trade was a 49.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,335 shares of company stock valued at $3,970,211 in the last three months. 0.64% of the stock is currently owned by company insiders.

Northern Trust Stock Performance

Shares of NASDAQ NTRS opened at $104.32 on Monday. 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 company has a market capitalization of $20.42 billion, a P/E ratio of 10.67, a P/E/G ratio of 1.72 and a beta of 1.07. Northern Trust Co. has a 12 month low of $79.30 and a 12 month high of $114.67. The stock has a 50 day moving average of $108.20 and a 200-day moving average of $101.91.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings data on Thursday, January 23rd. The asset manager reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $0.30. Northern Trust had a net margin of 12.77% and a return on equity of 13.74%. As a group, equities research analysts predict that Northern Trust Co. will post 8.27 EPS for the current year.

Northern Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a $0.75 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $3.00 dividend on an annualized basis and a yield of 2.88%. Northern Trust’s dividend payout ratio (DPR) is currently 30.67%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on NTRS shares. Barclays raised their price target on shares of Northern Trust from $115.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. The Goldman Sachs Group raised their target price on shares of Northern Trust from $92.00 to $102.00 and gave the company a “sell” rating in a research report on Friday, January 24th. Truist Financial boosted 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. Morgan Stanley decreased their price objective on Northern Trust from $138.00 to $136.00 and set an “equal weight” rating for the company in a report on Thursday. Finally, Keefe, Bruyette & Woods upped their target price on Northern Trust from $113.00 to $122.00 and gave the stock a “market perform” rating in a report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $113.50.

Northern Trust Company 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.