Natixis Raises Stock Position in Northern Trust Co. (NASDAQ:NTRS)

Natixis grew its stake in Northern Trust Co. (NASDAQ:NTRS) by 168.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 122,472 shares of the asset manager’s stock after purchasing an additional 76,858 shares during the quarter. Natixis’ holdings in Northern Trust were worth $12,553,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of NTRS. Massachusetts Financial Services Co. MA raised its holdings in shares of Northern Trust by 1.2% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,486,616 shares of the asset manager’s stock valued at $767,378,000 after acquiring an additional 92,162 shares during the last quarter. Geode Capital Management LLC boosted its stake in Northern Trust by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 4,904,871 shares of the asset manager’s stock worth $501,444,000 after purchasing an additional 30,908 shares during the last quarter. JPMorgan Chase & Co. grew its holdings 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 in the last quarter. Invesco Ltd. lifted its stake in shares of Northern Trust by 7.5% in the fourth quarter. Invesco Ltd. now owns 2,885,312 shares of the asset manager’s stock worth $295,744,000 after buying an additional 202,327 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in Northern Trust by 1.6% during the 4th quarter. Wellington Management Group LLP now owns 2,532,401 shares of the asset manager’s stock valued at $259,571,000 after acquiring an additional 39,592 shares in the last quarter. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Northern Trust Stock Up 1.0 %

Shares of NTRS opened at $88.29 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.68. The stock has a market capitalization of $17.28 billion, a PE ratio of 9.03, a P/E/G ratio of 1.72 and a beta of 1.10. The company’s 50-day simple moving average is $99.92 and its 200-day simple moving average is $102.81. Northern Trust Co. has a 1 year low of $79.68 and a 1 year high of $114.67.

Northern Trust (NASDAQ:NTRS) last posted its quarterly 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%. Analysts forecast that Northern Trust Co. will post 8.27 earnings per share for the current fiscal year.

Northern Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 3.40%. The ex-dividend date of this dividend was Friday, March 14th. Northern Trust’s payout ratio is presently 30.67%.

Insider Buying and Selling

In other news, EVP Thomas A. South sold 3,804 shares of the firm’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $113.00, for a total value of $429,852.00. Following the sale, the executive vice president now directly owns 81,794 shares in the company, valued at approximately $9,242,722. This trade represents a 4.44 % decrease in their position. The sale 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 the stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $112.36, for a total value of $2,936,191.52. Following the completion of the transaction, the chief operating officer now directly owns 26,586 shares in the company, valued at $2,987,202.96. This trade represents a 49.57 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 35,335 shares of company stock worth $3,970,211. Company insiders own 0.77% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on NTRS. Citigroup dropped their price target on Northern Trust from $110.00 to $105.00 and set a “neutral” rating for the company in a research report on Monday, March 24th. Truist Financial dropped their price objective on shares of Northern Trust from $116.00 to $98.00 and set a “hold” rating for the company in a report on Friday, April 4th. Barclays increased their price target 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. Morgan Stanley cut their target price on Northern Trust from $136.00 to $132.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 2nd. Finally, Wells Fargo & Company lowered their price target on Northern Trust from $119.00 to $118.00 and set an “equal weight” rating for the company in a report on Friday, March 28th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $113.08.

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.